FG call’s for local, int’l mining investors: Reveals the availability of platinum

The Ministry of Mines and Steel Development, through the Mineral Sector Support For Economic Diversification Project (MINDIVER), in the ministry has intensified efforts to attract exploration and mining investments into the mines and steel sub sector in line with the federal government economic diversification agenda.

Project coordinator of MINDIVER, Mr Linus Adie, said this when, group president & chief executive officer of Netcom Africa Limited, an international investment company in exploration and mining Mr Sean Hsu paid him a visit at the ministry in Abuja.

He said recent findings and improvement within the sector means Nigeria is serious and ready for mining investments. “For any mining investor, the time to come in is now because Nigeria is ready for mining investments. 

He stated the discovery of platinum in Nigeria, “So, l expect any investor interested in platinum to come in and take advantage.

In fact, the whole of Nigeria is covered broadly by regional geology with some parts already taken for detailed study meaning there is change of attitude by the government because the present administration is thinking beyond oil.

Adie stated that part of the drive to be embarked on by MINDIVER will be an aggressive sensitisation within the next three months to key government investment agencies like the NEXIM Bank and the Bank of Industry on the need to set up mining desk in their organisations for investors to take advantage of. 

“All the ministry and indeed the MINDIVER Project is thinking of now is on how to attract investors into the mines and steel sector. Your coming is timely since you are willing to promote Nigeria’s endowment as an investor.

There is no bigger opportunity than now because the government within the last four years has been very serious and determined to change the tide in accordance with its economic diversification agenda.

“There is on ground a viable roadmap produced by a team of professionals with clear and sustainable strategies to be adhered to. This Roadmap was also presented to the World Bank and the bank accepted it and at the moment financing some notable projects.

The bank is investing $150m to support the sector and the federal government is also providing some lntervention funds to assist the sector. All these are geared towards reviving the sector and turning Nigeria into a mining destination. 

“There is a plan on ground to begin within the next three months sensitisation to ensure that banks like NEXIM and Bank of lndustry set up mining desks to assist investors to explore the potentials within the sector.”

The group president & chief executive officer of Netcom Africa Limited, Mr Sean Hsu, said he is impressed with the pragmatic steps already taken by the Nigerian government to turn the country into a mining destination. “I am happy to hear that there is a well spelt out and organised roadmap for mining business.

Mining is the new generation business and we want to explore the sector because key companies have been coming to ask questions about prospects in Nigerian mining industry. A lot of interest have come in that direction,” he said.

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