Economy: Value addition now a standard for mining operations in Nigeria – Alake

March 27, 2024

You must have value addition for mining operations in Nigeria, Alake insists

L-R: Mr. Alok Gupta, Managing Director, African Natural Resources and Mines Limited (ANRML); Dr. Oladele Alake, Minister for Solid Minerals Development; Dr. Doris Nkiruka Uzoka-Anite, Minister for Industry, Trade and Investment; Dr. Mary Ogbe, Permanent Secretary, Ministry of Solid Minerals Development; and HRH.Engr. James Bitrus, Chief of Dnata Chiefdom, During an inspection Tour of ANRML Facility, in Kaduna State, Northern Nigeria.

*Dr. Oladele Alake, Minister for Solid Minerals Development, applauds ANRML for the new $600 million iron-ore mining and processing facility located in Kaduna State, restating the Federal Government’s focus on value addition for granting further mining licences to investors in the industry in Nigeria.

Dr. Oladele Alake, Honourable Minister for Solid Minerals Development, has emphasised value addition as the irreducible standard for mining operations in Nigeria.

The Minister stated this while speaking during an inspection tour of the gigantic $600 million African Natural Resources and Mines Limited (ANRML) facility, in Kaduna State, which hosts the mining and processing of magnetite iron-ore in the West African country.

Segun Tomori, Special Assistant to the Minister on Media, Tuesday, March 26, 2024, noted the Minister hailed the tenacity and foresight of the investors to build what is touted as one of the biggest foreign investments in the mining sector of the economy.

The company aligns with our vision of value addition and beneficiation through its processing of iron-ore, stated Alake.

He also urged other mining companies to take a cue from it.

Alake restated the position of the Federal Government to refrain from granting mining licences to companies without requisite plans for value addition to the Nigerian economy.

Drawing parallels between the experience of ANRML and the economic situation in the country, the Minister further asserted that the same ingredients of resilience, courage and laying of a solid foundation that the made the company a success story are critical factors guiding the economic restructuring of the present administration.

According to him, this will culminate in economic transformation in the end.

Dr. Alake noted: “I want to use you, the African Natural Resources and Mines Limited, as a concrete example of what can happen when you set your mind to it.

“We have set our minds in this administration and invariably in Nigeria to achieve success, that’s why Mr. President is restructuring the economy.”

He equally recalled “When this company started 7 years ago, we saw one of the foundations through the video documentary, the amount of concrete that went in to erect a foundation, just to carry a giant edifice. That’s what we are going through. When we get through the gestation period, the results will manifest, and it will herald prosperity.”

In her submission, Dr. Doris Azoka-Aniete, Honourable Minister for Industry, Trade and Investment, lauded the company for its giant stride in iron ore production and processing.

She stressed the company would be part of Nigeria’s efforts at scaling up local steel manufacturing and local manufacturing of automobiles through the Nigeria Automotive Industry Plan.

The statement noted
the ANRML operations involves magnetite iron-ore mining through to beneficiation, and pelletisation processes which result in Direct Reduced Iron (DRI), which will eventually position Nigeria as one of the prominent crude steel producers upon the commencement of exports.