Mining: Minister rallies international community support on domestic value addition

The  Minister of Solid Minerals Development, Dr Dele Alake has rallied support of the international community to drive value addition domestically in the mining sector.

This, the minister said, was critical for the development of the mining industry and Africa’s economy.

The Minister’s Special Assistant on Media, Mr Segun Tomori in a statement on Thursday, said the minister’s stand  emanated from the ongoing Future Minerals Forum (FMF) in Riyadh, Saudi Arabia.

The event’s theme is: “Why the Super Region? Should the Super Region Have Its Own Critical Minerals Strategy?”

Alake stated that as the world strove to achieve net zero environmental impact in all processes of mining operations, emphasis should shift to local value addition, against the age-long practice of carting away raw mineral resources.

He noted that for Nigeria and most of Africa, the idea of a super region was quite significant to harness the mosaic, distinctive mineral resources within the super regions and consequently achieve a sustainable energy mix for the world.

The Minister revealed that the country had begun prioritising the development of its critical minerals and rare earth metals.

“So the idea of inclusivity in a super region entails collaborative efforts, not only in the area of investments but technology transfer, knowledge sharing, and, more importantly, for us in Africa, local value addition.

“In Africa, we know we need a lot of infrastructural development. That is why the significance of the super region can not be overemphasised.

“The onus falls on us all to map out strategies of creating concrete alliances and integration of our economic interests.

“For instance, it is a known fact that Africa holds a significant percentage of critical minerals, which are now in demand as the world transitions to green energy.

“Therefore, the continent can no longer be given the shorter end of the stick,” Alake asserted