The Minister of Mines and Steel Development, Arc Olamilekan Adegbite has said that the ministry is likely to begin auctioning of bitumen licences by October this year.
The minister who stated this when China Railway Investment Group Limited paid him a courtesy call at the Ministry’s Headquarters in Abuja recently, urged critical investors to use the opportunity to contribute to the growth of the solid mineral sector for a viable nation.
He also wooed investors to fully invest in the Ajaokuta Steel Plant, disclosing that about 13 to 14 minerals needed to produce Liquid Steel from the Plant are all available in Nigeria. The only thing remaining for it to kick-start production is the completion of the blast furnace.
The minister expressed the Ministry’s readiness to collaborate with China Railway Investment Group Limited (CRIG) in strengthening mining investments across the Federation.
He said the Ministry will avail them the opportunities of investment in priority areas of both mining and metal sector once there is genuine expression of interest in the sector that will facilitate industrialization and prosperity of the nation.
He canvassed for investment in mining and processing of some major minerals such as gold, bitumen, barite, led, zinc, cobbalt, Lithium, coalta and coal, and gemstones, among about 44 discovered minerals readily available in the country.
This, he said, will satisfy and expand both the local and international markets and ensure the GDP growth of the economy.
