Value addition now a standard for mining operations, says Alake

March 27, 2024

Value addition now a standard for mining operations, says Alake

*** Lauds $600m Iron-Ore Mining & Processing Facility

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

Alake, disclosed this during its visit to the African Natural Resources and Mines Limited (ANRML) facility in Kaduna state, which houses a $600 million iron-ore mining and processing operation,

The Minister commended the company for its commitment to value addition and called on other mining companies to follow suit.

Alake, in a statement by its Special Assistant on Media, Segun Tomori, said that 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.

He 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, the Minister 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, expressing optimism that it will culminate in economic transformation.

He said: “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.”

In her remarks, 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.

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