A Swiss multinational, Glencore Plc has indicated interest in investing in Nigeria’s solid mineral sector with a specific focus on nickel, cobalt and zinc.
This was made known following a meeting of the company’s representatives led by its Chief Executive Officer (CEO), Mr Gary Nagle with the Minister of Solid Minerals Development, Dele Alake
The CEO of the company expressed satisfaction with the efforts of the current administration especially in moving the economy away from oil and gas into solid minerals.
He stated, “We are ready to invest provided the government ensures stability in the business climate and creates an enabling environment.”
“We are excited by what you are doing so far, so apart from oil and gas, we are looking at opportunities to invest in the mining sector with an emphasis on nickel, cobalt, and zinc among others,”
Nigeria open to investors in the mining sector
The minister affirmed Nigeria’s preparedness to embrace major international players in the mining sector, emphasizing that the ongoing reforms seek to streamline operations and enact favourable policies. Alake reiterated President Bola Tinubu’s commitment to establishing a robust governance framework to foster a conducive atmosphere for mining activities.
He said, “We want you to come here and invest because we have a preponderance of critical minerals like lithium, gold, zinc, and nickel among others that are in high demand globally.”
“We are securing the mining environment through a new security outfit, mining marshals, and providing wide-ranging incentives for investments as well as establishing an efficient governance structure for the mining sector,”
He further relayed the activities of the Ministry which include the security of mining sites through the creation of mining marshals, the provision of incentives and tax waivers and the opportunity to repatriate profit for multinationals.
He urged investors to take advantage of Nigeria’s favourable investment climate and vast mineral resources by investing in the sector.
