Minister declares value addition as standard for mining operations

March 27, 2024

Minister declares value addition as standard for mining operations

The Minister of Solid Minerals Development, Dele Alake, has declared value addition as the irreducible standard for mining operations in the country.

Speaking during an inspection tour of the $600m African Natural Resources and Mines Limited (ANRML) facility in Kaduna State on Tuesday, Alake commended the tenacity and foresight of the investors to build what is touted as one of the biggest foreign investments in the mining sector.

The ANRML hosts the mining and processing of magnetite iron-ore in Kaduna.

According to Alake, the company aligns with his vision of value addition and beneficiation through its processing of iron ore, urging other mining companies to take a cue from it.

The minister restated the position of the federal government to refrain from granting mining licenses to companies without requisite plans for value addition.

Drawing parallels between the experience of ANRML and the economic situation in the country, Alake said the same ingredients of resilience, courage, and laying of a solid foundation were critical factors guiding the economic restructuring of the present administration, expressing optimism that it will culminate in economic transformation.

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

“When this company started seven 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.”

Also speaking, the Minister of Industry, Trade and Investment, Dr Doris Azoka-Aniete, lauded the company for its stride in iron ore production and processing, stressing that the company will be part of the nation’s efforts to scale up local steel manufacturing and local manufacturing of automobiles through the Nigeria Automotive Industry Plan.