Dele Alake, the Minister of Solid Minerals Development, has sought international support to enhance local value addition in the mining sector, emphasizing its crucial role in fostering the growth of both the mining industry and the broader African economy.
He said this on a panel at the opening session of the ongoing Future Minerals Forum (FMF) in Riyadh, Saudi Arabia, he emphasized that the focus should move from the long-standing practice of transporting away raw mineral resources to local value addition as the globe works to achieve net zero environmental impact in all mining activities.
He said: “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 consequently achieve a sustainable energy mix for the world. In Nigeria, 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.”
Alake further asserted that “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.”
The Minister emphasized that the inclusivity strategy for the superregion should make sure that the extraction of mineral resources for exploitation takes a backseat to deliberate efforts to develop the mining industry value chain.
