Nigerian Government lauds ANRML’s $600m Iron-Ore Investment

March 27, 2024

Alake Advocates Value Addition In Mining Operations

The Nigerian Government has lauded the strides made by African Natural Resources and Mines Limited (ANRML), a magnetite iron-ore processing company located in Kaduna State, within the North-western region of the country.

The Minister of Solid Minerals Development, Dr. Dele Alake, commended the company for its significant contribution to the mining sector during an inspection tour of ANRML’s $600 million facility.

Dr. Alake lauded the company’s strategic focus on processing and refining minerals rather than solely exporting them, a move that has sparked numerous economic advantages for Nigeria.

He praised the company’s foresight and commitment, highlighting its significant investment of $600 million over the past seven years as evidence of its ambition and potential.

In his address, Alake emphasized that ANRML’s operations resonate with his vision of promoting value addition and beneficiation, particularly through its iron-ore processing endeavors. He urged fellow mining entities to emulate ANRML’s approach.

The minister reiterated the federal government’s stance on withholding mining licenses from companies lacking concrete plans for value addition. He emphasised that moving forward, any entity seeking licenses in the minerals sector must present tangible strategies for local value addition.

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

“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.

In her submission, the Minister of Industry, Trade and Investment, Dr. Doris Azoka-Aniete lauded the company for its giant 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.

During his address, the General Managing Director of ANRML, Mr. Alok Gupta, unveiled the company’s mining capacity, which exceeds 5 million tonnes per annum.

Mr. Gupta highlighted the significance of the Direct Reduced Iron (DRI) produced by ANRML, emphasising its role as a direct substitute for ferrous scrap, the current raw material for steel production in Nigeria. This shift, Mr. Gupta asserted, will progressively elevate Nigeria’s status as a major global producer of Crude Steel.

Mr. Gupta underscored ANRML’s substantial contributions to the Nigerian economy, citing the creation of both direct and indirect employment opportunities for approximately 4000 individuals. Moreover, he highlighted the company’s commitment to the development of the host community.

In his address, His Royal Highness, Engr. James Bitrus urged ANRML to prioritize certain critical areas in its corporate social responsibility initiatives. Specifically, he emphasized the importance of focusing on education, health, job creation, and food security and stressed that these aspects directly correlate with the sacrifices made by the community’s residents, past and present, for the betterment of the nation.