Minister inspects $600m Iron-Ore Mining, processing facility

March 27, 2024

Minister inspects $600m Iron-Ore Mining, processing facility

Dr Dele Alake, the Minister of Solid Minerals Development, has inspected the gigantic $600 million African Natural Resources and Mines Limited (ANRML) facility in Kaduna state.

The facility hosts the mining and processing of magnetite iron-ore.

The Minister commended the foresight of the investors in building one of the biggest foreign investments in the mining sector.

Dr Alake, according to a Statement by his Special Assistant on Media, Segun Tomori , said the company aligns with his vision of value addition through its processing of iron-ore, and urged other mining companies to take a cue from it.

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

“I want to use you, the African Natural Resources and Mines Ltd., 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. 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, “Dr. Alake added.

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

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