Latest news with #Alake
The Star
9 hours ago
- Business
- The Star
Feature: From pit to prosperity -- Nigerian miners find renewed hope from solid minerals revival
by Olatunji Saliu ABUJA, June 9 (Xinhua) -- As the early morning sun stretched long shadows across the rocky terrain of a small mining site in Nigeria's central state of Nasarawa, 43-year-old Abubakar Musa, a third-generation artisanal miner, sifted meticulously through the freshly unearthed soil. For about two decades, Musa's livelihood -- like that of countless informal miners across Africa's most populous country -- was a precarious gamble. His work teetered on the edge of legality, exposed to market volatility and rife with exploitation. But today, a quiet confidence radiates from him. "Things have truly changed," Musa told Xinhua in a recent interview, a glint of hope lighting his eyes. "We now work with dignity, and our future feels secure." Musa's optimism captures the remarkable transformation sweeping through Nigeria's solid minerals sector, now two years into President Bola Tinubu's administration. Long plagued by illegal operations and the unchecked export of raw materials, the once-overlooked sector is being reimagined as a pillar of economic diversification -- drawing record investment, boosting government revenue, and empowering local communities. At the heart of this revival is a radical shift in policy: a decisive move toward local value addition. Under Tinubu's Renewed Hope Agenda, the Ministry of Solid Minerals Development rolled out a seven-point roadmap in 2023, aimed at formalizing the sector, curbing illicit practices, and ensuring that Nigeria's vast mineral wealth drives national development. One cornerstone is the "no raw material export" policy. Any new mining license must include a plan for domestic processing, transforming raw output into higher-value products within Nigeria. Minister of Solid Minerals Development Dele Alake told the media recently that the shift has already paid off. In 2024 alone, the sector attracted over 800 million U.S. dollars in processing-related investments, fueled by tightened regulations and growing investor confidence. "Nigeria has not had it this good in the solid minerals sector. We are restoring confidence, building data, enforcing the law, and returning value to Nigerians from their resources," Alake said. According to Alake, government revenue from the sector has surged, jumping from 6 billion Nigerian nairas (about 3.85 million dollars) to over 38 billion Nigerian nairas (about 24.4 million dollars) in 2024. First-quarter figures for 2025 already indicate strong continued growth. "The days of exporting raw minerals from pit to port are over," Alake said, emphasizing the government's resolve. "We are now focused on turning our mineral wealth into domestic economic value -- jobs, technology, and manufacturing." This strategic pivot is perhaps most visible in Nigeria's lithium sector. Alake highlighted two major processing plants -- one near the Kaduna-Niger border and another near Abuja -- as key examples of the new direction. These facilities are designed not just for extraction, but as integrated industrial hubs that add value, drive innovation, and create thousands of direct and indirect jobs. Foreign partners have taken note, particularly Chinese firms, which are increasingly prominent in Nigeria's push toward localized processing. Sinic Engineering Limited, a Chinese company with over five years of experience in Nigeria, is playing a key role in this transformation. Vice General Manager Wei Guoting told Xinhua that the company provides integrated engineering mining services, including procurement and construction contracts, mine development, open-pit mining, and mineral processing operations -- all while maintaining high-level international standards. "For instance, we have deployed 3D geological modeling and intelligent exploration technologies to precisely delineate resource reserves and establish a tiered resource evaluation system, enabling scientific targeting of high-grade deposits," Wei said. Equally important, Wei noted, is the firm's commitment to localization. Sinic has developed a robust training program for local workers, earning the nickname "Sinic Skills Training School" among the local community. To date, the company has trained more than 1,000 Nigerian technical professionals. Back in Nasarawa, the impact is clear on the ground. Musa, who once toiled informally with little security or reward, is now part of a formally recognized mining cooperative -- one of over 250 created under the government's formalization drive. These cooperatives have absorbed tens of thousands of miners into the formal economy, providing access to finance, training, and safer working conditions. "Before, we just sold stones for whatever price we could get," Musa said. "Now, we are part of a larger chain, with training on safer practices and a clearer understanding of the value of what we extract." As the sun continued its climb over the Nasarawa hills, a renewed sense of hope emerged from the country's rugged mining heartlands and the lives being reshaped within them.
Yahoo
27-05-2025
- Business
- Yahoo
Nigeria to launch lithium processing plants with Chinese investment
Nigeria is poised to inaugurate two major lithium processing plants this year, signalling a strategic move away from the export of raw minerals towards enhancing domestic value, according to a Reuters report. The country's Mining Minister, Dele Alake, announced on Sunday that these facilities, backed by Chinese investors, are expected to catalyse job creation, technological advancements and manufacturing growth within Nigeria. A $600m (N949.66bn) lithium processing plant near the Kaduna-Niger border is scheduled for commissioning within this quarter, according to Alake. Additionally, a $200m lithium refinery on the outskirts of Abuja is approaching completion, the report said. These plants are part of Nigeria's commitment to leveraging its extensive mineral wealth for economic development. The minister revealed plans for two more processing plants in Nasarawa state, adjacent to the capital Abuja, due to be operational before the third quarter of 2025. Chinese companies including Jiuling Lithium Mining Company and Canmax Technologies have provided more than 80% of the financing for the four facilities, as disclosed by governors from the respective states hosting the plants. The remaining shares are held by a local company, Three Crown Mines. The Chinese partners have not yet commented on this development. 'We are now focused on turning our mineral wealth into domestic economic value – jobs, technology and manufacturing,' Alake was quoted as saying by the news agency. The focus on domestic processing follows a 2022 study by Nigeria's Geological Survey Agency, which identified substantial high-grade lithium deposits across several Nigerian states, sparking significant international interest. These discoveries are integral to Nigeria's broader reforms aimed at revitalising its underdeveloped mining sector, which presently contributes less than 1% to the national gross domestic product. Nigeria has introduced other measures including the restriction of unprocessed mineral exports, formalising artisanal mining and establishing a state mining company offering up to a 75% stake to investors. In April last year, the Nigerian Government announced that new mining licences would be granted exclusively to companies with plans for local mineral processing, marking a departure from the long-standing policy of exporting unprocessed raw materials. A government spokesperson highlighted the objective to maximise the value derived from Nigeria's solid mineral deposits. "Nigeria to launch lithium processing plants with Chinese investment" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
TimesLIVE
26-05-2025
- Business
- TimesLIVE
Nigeria to open two Chinese-backed lithium processing plants this year
Nigeria is set to commission two major lithium processing plants this year, the country's mining minister announced on Sunday, marking a shift from raw mineral exports towards adding value domestically. The facilities, largely funded by Chinese investors, could help transform Nigeria's vast mineral wealth into jobs, technology, and manufacturing growth within the country. Mining minister Dele Alake said a $600m (R10.72bn) lithium processing plant near the Kaduna-Niger border is slated for commissioning this quarter, while a $200m (R3.57bn) lithium refinery on the outskirts of Abuja is nearing completion. Two additional processing plants are expected in Nasarawa state, which borders the capital Abuja, before the third quarter of 2025, the minister said. "We are now focused on turning our mineral wealth into domestic economic value - jobs, technology, and manufacturing," Alake said. Over 80% of the funding for the four facilities has been provided by Chinese firms, including Jiuling Lithium Mining Company and Canmax Technologies, according to separate announcements by governors of the states where the plants are located.
Business Insider
26-05-2025
- Business
- Business Insider
Nigeria to open $800m Chinese-funded lithium processing factories this year
Nigeria is set to launch two major lithium processing factories this year marking a shift from raw mineral exports towards adding value domestically. Nigeria is planning to inaugurate two large lithium processing plants this year, advancing its mineral processing capabilities. The plants include a $600 million facility near Kaduna-Niger border and a $200 million refinery near Abuja. The government has enforced policies to enhance value-added processing domestically, aiming to capitalize on Nigeria's rich lithium deposits. Nigeria is set to launch two major lithium processing plants this year marking a shift from raw mineral exports towards adding value domestically. The announcement came from Nigeria's mining minister, Dele Alake, who revealed that a $600 million lithium processing plant near the Kaduna-Niger border is slated for commissioning this quarter, while a $200 million lithium refinery on the outskirts of Abuja is close to completion. He also added that two more lithium plants are expected to come to life in Nasarawa state before the third quarter of 2025. " We are now focused on turning our mineral wealth into domestic economic value - jobs, technology, and manufacturing," Alake said. More than 80% of the funding for the four plants is being provided by Chinese companies, including Jiuling Lithium Mining Company and Canmax Technologies according to separate announcements by governors of the host states. The remaining stakes are owned by local investor Three Crown Mines. Building value beyond extraction Lithium is one of the most sought-after minerals globally, especially because of its critical role in producing electric vehicles, solar panels, and other green energy technologies. A 2022 study by Nigeria's Geological Survey Agency discovered significant deposits of high-grade lithium across half a dozen Nigerian states, drawing strong interest from global players. In the wake of these findings, China's Ming Xin Mineral Separation Nig Ltd. was selected by Kaduna State in 2023 to build Nigeria's first lithium-processing plant, with ambitions to manufacture batteries for electric vehicles (EVs). The Nigerian government made it clear that its focus is on building value at home. In 2022, the government claimed it had rejected a proposal from Tesla to purchase raw lithium from the country. Ayodeji Adeyemi, special assistant to the minister of mines and steel development, told Rest of World that the proposal was turned down because it did not align with Nigeria's new broader mining policies.
Business Insider
19-05-2025
- Automotive
- Business Insider
World's largest electric vehicle-producing country set to establish an EV plant in Nigeria
China recently disclosed intentions to establish an electric vehicle (EV) plant in Africa's most populous nation and one of its largest economies, Nigeria. China plans to establish an electric vehicle (EV) manufacturing plant in Nigeria. The announcement aligns with a broader strategy to boost Nigeria's industrialization and strengthen its partnership with China. During discussions, the importance of collaboration on using Nigeria's lithium reserves for EV battery production was highlighted. The initiative is a huge step forward for Nigeria's industrialization aspirations and reinforces Beijing's expanding presence in Nigeria, in a year when the East Asian country has been very active within Africa's largest oil-producing country. This new development was made known during a courtesy visit by China's Ambassador to Nigeria, Yu Dunhai, to Dr. Dele Alake, Minister of Solid Minerals Development. During the visit, Ambassador Dunhai underlined the need for further collaboration between the two countries in unleashing Nigeria's solid minerals potential, a crucial component in EV battery production, and propelling Nigeria's industrial growth. Dunhai also stated that China has always recognized Nigeria as an important partner in its foreign strategy. The Chinese ambassador mentioned the recent meeting between Presidents Bola Ahmed Tinubu and Xi Jinping, during which both leaders decided to upgrade Nigeria-China bilateral relations to a comprehensive strategic partnership, paving the way for considerable economic and technical collaboration. Dr. Alake, in response noted that the Federal Government has granted authority for China to develop electric car manufacturing factories in Nigeria, as he emphsized the idea that Nigeria is open for business. He asked that the ambassador persuade Chinese businesses to make full-cycle investments in Nigeria, from extraction to processing, as reported by the Punch. 'For years, our minerals have been exported raw to fuel foreign industrialisation. That must change, Dr. Alake stated. 'We now prioritise local processing to drive Nigeria's development. For instance, with the abundance of lithium, we want to see local manufacturing of electric vehicles and batteries,' he added. 'Plans are underway to establish electric vehicle factories and other manufacturing ventures in Nigeria. Chinese companies are already deeply involved in Nigeria's mining sector, from exploration to processing,' Dr. Alake continued. 'We aim to deepen this collaboration, especially in line with President Tinubu's eight priority areas, notably economic diversification through solid minerals,' he added. Deals between China and Nigeria in 2025 so far The EV announcement follows a flood of Chinese investments and strategic engagement with Nigeria so far in 2025. In April, the National Sugar Development Council (NSDC) inked a $1 billion agreement with Chinese company SINOMACH to build a large-scale sugarcane production and processing facility. Mr. Kamar Bakrin, NSDC Executive Secretary, told the News Agency of Nigeria (NAN) that the investment will alter Nigeria's sugar sector and strengthen China's strategic footprint in the nation. 216 Chinese businesses traveled to Nigeria in March to look for potential investment opportunities. Interestingly, 74 of them specifically indicated interest in Nigeria's oil industry, indicating China's intention to diversify its holdings in the nation's important sectors. A new shipping route that provides an exceptional 27-day transit time between Shanghai and Lagos began in February when the MV Great Cotonou, a Con-Ro vessel from China, arrived at the PTML facility in Lagos, West Africa's largest multipurpose RO/RO facility. It is anticipated that this innovation would transform the logistics of regional trade.
