Alake Advocates Value Addition In Mining Operations

March 27, 2024

Alake Advocates Value Addition In Mining Operations

ABUJA – The Minister of Solid Minerals Development, Dr. Dele Alake, has emphasized the significance of value addition as the fundamental standard for mining operations in Nigeria.

During an inspection tour of the African Natural Resources and Mines Limited (ANRML) facility in Kaduna state, which hosts magnetite iron-ore mining and processing operations, Dr. Alake commended the investors for their foresight and dedication in establishing one of the largest foreign investments in the mining sector, valued at $600 million.

This was contained in a statement made available to newsmen by Segun Tomori, Special Assistant on Media
Honourable Minister of Solid Minerals Development on Tuesday in Abuja.

Dr. Alake praised ANRML for aligning with his vision of value addition and beneficiation through its iron-ore processing activities, urging other mining companies to emulate its example.

He reiterated the federal government’s stance on withholding mining licenses from companies lacking plans for value addition.

Drawing parallels between ANRML’s success story and Nigeria’s economic situation, Dr. Alake highlighted the importance of resilience, courage, and laying a solid foundation for economic restructuring.

He expressed optimism that the administration’s economic reforms would lead to transformative results, likening the gestation period to the construction phase of ANRML’s facility, with eventual prosperity on the horizon.

In her remarks, the Minister of Industry, Trade and Investment, Dr. Doris Azoka-Aniete, commended ANRML for its significant contributions to iron ore production and processing.

She emphasized the company’s role in scaling up local steel manufacturing and supporting the Nigeria Automotive Industry Plan, which aims to boost local automobile manufacturing.

ANRML’s operations encompass magnetite iron-ore mining, beneficiation, and pelletization processes, resulting in Direct Reduced Iron (DRI). These efforts position Nigeria to emerge as a prominent crude steel producer upon the commencement of exports.

The tour underscores the government’s commitment to promoting value addition in the mining sector, fostering economic growth, and enhancing Nigeria’s industrial capabilities.