Local value addition essential for mining sector dev. – Minister
By Vivian Emoni
The Minister of Solid Minerals Development, Mr Dele Alake, says that strong support by international community for local value addition in the mining sector will promote economic development in the industry.
Alake said this in a statement issued by Mr Segun Tomori, the Minister’s Special Assistant on Media, at the opening session of the ongoing Future Minerals Forum (FMF) in Riyadh, Saudi Arabia.
The forum is titled “Why the Super Region? Should the Super Region Have Its Own Critical Minerals Strategy?”.
He said as the world strives to achieve net-zero environmental impact in all processes of mining operations, emphasis should shift to local value addition, as against the age-long practice of carting away raw mineral resources.
According to him, “for us in Nigeria, and most of Africa, the idea of a super region is quite significant in order to harness the mosaic, distinctive mineral resources that are within the confines of our super regions.
“And this, consequently achieves a sustainable energy mix for the world. We have prioritised the development of our 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,” he said.
The minister said the strategy of inclusivity in the super region should ensure that the practice of exploitation through mere extraction of mineral resources gives way.
He said that the effort was to focus strong commitment in developing the mining industry value chain that would culminate in processing minerals into finished products.
He said that the process would, however, herald economic development for countries in the continent. (NAN)) (www.nannews.ng)
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Edited by Vincent Obi
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