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FG committed to steel industry revitalization to drive infrastructural development, says Industry Minister, Dr Uzoka-Anite

March 27, 2024

The Federal Government is committed to industry rehabilitation, with a focus on steel as the cornerstone of the country’s infrastructural development and economic rebirth, according to Dr. Doris Uzoka-Anite, Minister of Industry, Trade, and Investment. Concurrently, the African Natural Resources and Mines Limited (ANRML) in Kaduna state conducted an evaluation of the $600 million Iron-Ore Mining & Processing Facility, marking a noteworthy advancement in Nigeria’s mining industry. “Our Industry Revitalization Plan prioritizes steel due to its foundational role in building our nation’s infrastructure. “One pressing issue within our industry is the spiralling cost of goods, especially burdensome for manufacturers. By scrutinizing production costs, we aim to facilitate more affordable manufacturing processes,” Persecondnews quotes her as saying in a statement emailed to Persecondnews on Wednesday. The Federal Executive Council had approved an Infrastructure Development Fund, which Dr. Uzoka-Anite describes as a “project de-risking fund,” concentrating on crucial infrastructure sectors vital to Nigeria’s economy. This fund, alongside the Industry Revitalization Plan, aspires to stimulate the economy, build additional roads, railways, and essential infrastructure. Increased production is anticipated to please investors and stakeholders alike. “We owe President Bola Ahmed Tinubu gratitude for championing this initiative,” the Minister added, signalling the administration’s progressive vision. In aligning with the remarks of Dr. Dele Alake, Minister of Solid Minerals Development, Dr. Uzoka-Anite praised the ANRML facility for its substantial foreign investment and commitment to value addition and beneficiation in its iron-ore processing. She asserted that these efforts are in line with the federal government’s policy to require value addition plans for mining operations license approvals. Dr. Uzoka-Anite underscored the ANRML’s alignment with the Nigeria Automotive Industry Plan, enhancing local steel production for the automotive manufacturing sector. She highlighted the significance of the Direct Reduced Iron (DRI) produced through the facility’s advanced beneficiation and pelletisation processes, setting Nigeria on the path to becoming a leading crude steel producer. The Minister drew a parallel between the country’s economic restructuring efforts and ANRML’s success, saying the same tenacity and strategic groundwork that propelled ANRML to success are what our administration is channelling towards Nigeria’s transformation. “Like the concrete foundations necessary for ANRML’s plant, our nation is laying the groundwork for sustainable prosperity.”

FG: Steel Sector Is Nigeria’s Cornerstone For Economic Growth

March 27, 2024

The Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite, said the steel sector was Nigeria’s cornerstone for economic growth. The minister stated this while on a working visit to $600 million Iron Ore Mining & Processing Facility by the African Natural Resources and Mines Limited (ANRML) in Kaduna state. She described the facility as a significant stride in Nigeria’s mining sector, according to a statement issued by the Minister’s media aide,Terfa Tilley-Gyado. “Our industry revitalisation plan prioritises steel due to its foundational role in building our nation’s infrastructure. One pressing issue within our industry is the spiralling cost of goods, especially burdensome for manufacturers. By scrutinising production costs, we aim to facilitate more affordable manufacturing processes,” she said. The minister disclosed that Federal Executive Council (FEC) approval of Infrastructure Development Fund was a “project de-risking fund” concentrating on crucial infrastructure sector and vital to Nigeria’s economy. “This fund, alongside the Industry Revitalization Plan, aspires to stimulate the economy, build additional roads, railways, and essential infrastructure. Increased production is anticipated to please investors and stakeholders alike. We owe President Bola Ahmed Tinubu gratitude for championing this initiative,” the Minister added, signalling the administration’s progressive vision.” In aligning with the remarks of Dr. Dele Alake, Minister of Solid Minerals Development, Dr. Uzoka-Anite praised the ANRML facility for its substantial foreign investment and commitment to value addition and beneficiation in its iron-ore processing. She asserted that these efforts are in line with the federal government’s policy to require value addition plans for mining operations license approvals.

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

March 27, 2024

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 Photo: State House *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.

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

March 27, 2024

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.

Value Addition is new Standard in Mining Operations – Alake

March 27, 2024

The Minister of Solid Minerals Development, Dr Dele Alake has declared value addition as the new indispensable standard for mining operations in the country. Alake made the declaration in a statement issued by his Special Assistant on Media, Mr Segun Tomori, on Tuesday in Abuja. The minister had earlier said that the federal government had resolved to ensure compliance to value addition before permitting investors to operate. He said that his seven-point agenda for the ministry had placed the mining sector on the global front burner since assuming office, which had generated renewed interest from the international community in Nigeria`s mineral resources. According to the statement, the minister lauded a mining company, African Natural Resources and Mines Ltd. (ANRML), during an inspection tour in Kaduna State, for its 600 million dollar facility dedicated to the mining and processing of magnetite iron-ore. He described the move as in line with the government`s resolve for value addition, which is especially apt given President Bola Tinubu`s quest to develop the solid minerals, to boost Nigeria`s economic profile and to meet the global upsurge in energy transition. “The company aligns with our vision of value addition and beneficiation through its processing of iron-ore, and I urge other mining companies to take a cue from them, “ he said. He reiterated the government`s commitment to abstain from granting mining licenses to companies that lack the necessary plans for value addition. The minister acknowledged that resilience, courage and laying a solid foundation were critical in contributing to the company success. He added that such factors also serve as guidelines for President Tinubu`s administration in its efforts for economic transformation. “ We have set our minds in this administration and invariably in Nigeria to achieve success, that is why Mr President is restructuring the economy. “When this company (ANRML) 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 is what we are going through. When we get through the gestation period, the results will manifest, and it will herald prosperity, “he said. The minister had stated that no license would be granted to companies wishing to enter the mineral sector without presenting a plan for value addition, such as processing and refining which has multiplier effect on the economy. (NAN)

Trade, Solid Minerals Ministers Visit ANRML, Laud Steel Firm For Value Addition, Economic Development

March 27, 2024

The Minister of Solid Minerals Development, Dr. Dele Alake on Tuesday announced the Federal Government’s policy success in local value addition to the Kujeni iron ore deposit being mined by the African Natural Resources and Mines Limited (ANRML). The minister who made the point during a one-day working visit to ANRML mine site in Kujeni, Kaduna State, explained that by ensuring the compliance of operators to the policy, government is fulfilling its pledge of economic restructuring, noting that large scale jobs and wealth have been created in Kujeni. Alake assured that the administration will continue to support foreign investors who add value to minerals in Nigeria, and commended the management of the company for complying with government’s policy of local value addition to minerals. “Myself and the Minister of Trade and Investment have gone around the mine site and we have seen the massive investment. In fact, it is reputed to be the largest FDI in mineral sector in Nigeria put at about six hundred million Dollars,” he said. He pointed out that the Africa Natural Resources and Mines is not just carting or mining Nigeria’s iron ore, but it is processing and refining the ores, thereby contributing to the economic development of Nigeria. He extolled the tenacity of the company, saying: “The African Natural Resources and Mines Limited is worthy of emulation, and I commend the Group Managing Director for this very remarkable achievement.” While reiterating that local value addition to solid minerals is one of the key ways by which the Tinubu administration is fulfilling its pledge to restructure the economy, he further discussed the strategic importance of the policy, saying: “When I assumed duty in August last year, I rolled out my seven point agenda for the solid minerals sector, a critical part of the agenda was local value addition to minerals in Nigeria.” “At various international fora, I reemphasized the significance of the policy.” “As recently as last week, I reemphasized that the Federal Government would no longer license any company that wants to engage in our minerals sector without any concrete plan for local value addition.” “So, today’s event gladdens my heart because here is a company that has obeyed our admonition and exemplified local value addition to solid minerals.” “I am happy that we have an example in ANMRL for other companies in Nigeria,” he added. Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite said the steel industry is capable of supporting President Tinubu’s industrial revolution goal, adding that government will not import steel to feed the industrial revolution needs. While saying that steel constitutes eighty percent of a car, Uzoka-Anite explained that steel manufacturers in the country are prepared to produce top quality steel that will feed car manufacturing in the country towards realizing the set goal of the industrial revolution. Group Managing Director, ANRML, Mr. Alok Gupta thanked the ministers and pledged continues commitment to pursuit of shared values. Discussing the journey of the company to its current status, Alok said it commenced in 2016 with the “Community Development Agreement and Land Acquisition” in Gujeni. “This journey has culminated in the establishment of a fully integrated iron ore mining and processing plant by 2023, a groundbreaking achievement and the first of its kind in Nigeria. While saying that the real wealth of a nation lies in its natural resources, Alok described Nigeria as a nation of strength, resilience and limitless potential blessed with abundant natural resources. He said the company’s iron ore mining and processing plant is Nigeria is the largest non-oil FDI in the country, adding that it is a significant stride in deploying mineral wealth to national economic development. While saying that the site as a mining capacity of over 5 million tones per annum, he explained that the Direct Reduced Iron (DRI) produced by the facility will be a direct substitute for ferrous scrap currently used as raw material for producing steel in Nigeria. “It will also gradually position Nigeria as a prominent Crude Steel producer globally,” he added. He said beyond mere business success, ANRML embodies the essence of the “Renewed Hope Agenda,” championed by President Bola Ahmed Tinubu.

Value addition now a standard for Mining operations – Alake

March 27, 2024

Minister of Solid Minerals Development, Dr. Dele Alake has declared value addition as the irreducible standard for mining operations in the country. This was contained in a press release issued yesterday by Segun Tomori, Special Assistant on Media to the Minister of Solid Minerals Development. Speaking during an inspection tour of the gigantic $600m African Natural Resources and Mines Limited, ANRML, facility, in Kaduna State, that hosts the mining and processing of magnetite iron-ore, Alake hailed the tenacity and foresight of the investors to build what was touted as one of the biggest foreign investment in the Mining sector. According to him, 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 added, “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 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. In her words, “As we tackle the rising cost of goods, it is imperative to address the underlying components driving these costs. “Our focus on the Steel Sector demonstrates our commitment to fostering a conducive environment for industrial growth and economic prosperity.” According to her, the Ministry of Industry, Trade, and Investment remains steadfast in its dedication to promoting sustainable development and fostering a vibrant business ecosystem. Adding that through strategic interventions such as the ventilation plan, Nigeria was poised to unlock the full potential of its industrial sector and drive inclusive economic transformation. Also, the General Managing Director, ANRML, Mr Alok Gupta with immense pride, reflected on their journey that commenced in 2016 with the “Community Development Agreement and Land Acquisition” in Gujeni, which has culminated in the establishment of a fully integrated Iron ore Mining and Processing plant by 2023, a groundbreaking achievement and the first of its kind in Nigeria. He expressed optimism that the real wealth of a nation lies in its natural resources, pledging that the project will be fully utilized to make real wealth for Nigeria. Gupta disclosed that ANRML has a mining capacity of over 5 million tonnes per annum and its produced Direct Reduced Iron, DRI, will be a direct substitute for ferrous scrap currently used as raw material for producing steel in Nigeria, which will gradually position Nigeria as a prominent Crude Steel producer globally. He noted that ANMRL has created direct and indirect employment for up to 4000 Nigerians, giving regular disposable income to feed many families. He revealed that the firm has also invested in the development of host community and made substantial contributions to education, electricity, borehole installations, scholarships, supply of medical drugs, training and development, as well as local festivities saying that a lot of small businesses such as tailoring, food and goods sellers have also opened shops, generating income and jobs, thereby helping them to prosper. The ANMRL helmsman stated that none of this would have been possible without the steadfast support of the Federal Government, particularly “Ministry of Industry, Trade, and Investment” and “Ministry of Solid Minerals Development” adding that ANRML was a testimony of the Government’s commitment to reduce steel importation, promote local manufacturing, boost foreign reserves, and contribute to Gross Domestic Product, GDP. He remained optimistic about Nigeria’s growth trajectory and envisioned a future where the nation emerges as a trillion-dollar powerhouse. He implored, for the continued support of both Ministries in collectively realizing the firm’s vision for a prosperous, self-sufficient, and industrially advanced Nigeria. On his part, His Royal Highness, Engr James Bitrus said no community can develop in isolation, adding that the coming of ANRML presented a ray of light that Dnata was on the path of development, which was only possible through mutual respect built upon mutual benefits, sacrifices and understanding. He urged the company to document its Social Corporate Responsibility not only for the Supervisory Ministry or Agency to see their good works, but also as evidence based indicators for posterity to justify it. The Royal Father further stressed that ANRML should focus on; education, health, job and food security in their corporate social responsibilities, as these aspects have direct bearing with the sacrifices the indigenes of the community made and are still making for the national benefits. He assured of running an open door policy in suggesting ways forward for the project and continuous sensitization of his people on peaceful co- existence, and being accommodative in order to actualize the dreams of the expected development. In his closing remarks, a Board Member of the Company, Dr John Akanya appreciated the General Managing Director for his dedication, focus, and the foresight to ensure that the project becomes a reality. He acknowledged the Ministers for value addition of the minerals, prayed for divine strength to implement their mandates, and that their labors and investments in the project would bring blessings to Nigeria. Akanya also called on the host community to create an enabling environment to execute the project in order to impact on the community and the entire country, while charging ANMRL staff to collaborate in upholding the company to enable it produce. Highlights of the visit include the visiting teams inspection tour of the company’s mining site, processing plants such as (the beneficiation for cleansing of raw ore, conveyor, which moves finer products to beneficiation), power plant for mining coal and generating power to the host community, the burning disc and DRI plant, among other facilities, and the presentation of momentos to the Ministers, among few other dignitaries. The ANRML operations involves magnetite iron-ore mining through to 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.

Firm invests $600m in Nigerian Iron-Ore facility

March 27, 2024

The African Natural Resources and Mines Limited (ANRML) has announced an investment of $600 million in an Iron-Ore Mining & Processing facility to bolster Nigeria’s economic growth. Doris Uzoka-Anite, the minister of industry, trade and investment said that the venture situated in Kaduna State, marks a substantial commitment to Nigeria’s mining sector, positioning the country for enhanced infrastructural development and economic renewal. The Minister commended ANRML’s initiative as a pivotal step towards harnessing the potential of the steel industry. Anite said the Iron-Ore Mining & Processing Facility represents a cornerstone in Nigeria’s quest for sustainable economic prosperity. She emphasized the importance of scrutinizing production costs to facilitate more affordable manufacturing processes, thereby stimulating economic activity and attracting investors. “Our Industry Revitalization Plan prioritizes steel due to its foundational role in building our nation’s infrastructure. One pressing issue within our industry is the spiraling cost of goods, especially burdensome for manufacturers. By scrutinizing production costs, we aim to facilitate more affordable manufacturing processes. This investment underscores our commitment to fostering economic growth through strategic partnerships and infrastructural development,” she said. Anite added that the Federal Executive Council’s approval of an Infrastructure Development Fund signifies a concerted effort to de-risk projects and focus on critical infrastructure sectors essential to Nigeria’s economy. She described the fund as instrumental in driving forward the nation’s infrastructure agenda, including the construction of roads, railways, and other vital infrastructure. “The Federal Executive Council has approved an Infrastructure Development Fund, which Dr. Uzoka-Anite describes as a “project de-risking fund,” concentrating on crucial infrastructure sectors vital to Nigeria’s economy. This fund, alongside the Industry Revitalization Plan, aspires to stimulate the economy, build additional roads, railways, and essential infrastructure. Increased production is anticipated to please investors and stakeholders alike.” The Minister underscored the alignment of ANRML’s efforts with the Nigeria Automotive Industry Plan, emphasizing the significance of local steel production for the automotive manufacturing sector and commended the President for championing the initiative, highlighting the administration’s progressive vision and commitment to economic restructuring. She highlighted the significance of the Direct Reduced Iron (DRI) produced through the facility’s advanced beneficiation and pelletisation processes, setting Nigeria on the path to becoming a leading crude steel producer. In his remarks, Dele Alake, Minister of Solid Minerals Development, also commended the ANRML facility for its substantial foreign investment and commitment to value addition and beneficiation in its iron-ore processing. He asserted that these efforts are in line with the federal government’s policy to require value addition plans for mining operations license approvals. ANRML’s investment in advanced beneficiation and pelletisation processes signifies a commitment to value addition and beneficiation in iron-ore processing, aligning with the federal government’s policy to require value addition plans for mining operations license approvals. “The same tenacity and strategic groundwork that propelled ANRML to success are what our administration is channeling towards Nigeria’s transformation, Like the concrete foundations necessary for ANRML’s plant, our nation is laying the groundwork for sustainable prosperity.” She stated further that with ANRML’s investment, Nigeria stands poised to capitalize on its natural resources, drive economic growth, and pave the way for a brighter future marked by sustainable development and prosperity.

Alake declares value addition as standard for mining in Nigeria

March 27, 2024

The Minister of Solid Minerals Development, Dr Dele Alake, has declared value addition the irreducible standard for mining operations in the country. Speaking during an inspection tour of the gigantic $600 million African Natural Resources and Mines Limited (ANRML) facility in Kaduna State that hosts the mining and processing of magnetite iron ore, 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. According to Alake, the company aligns with its 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 licences to companies without the 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 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, 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 to erect a foundation, just to carry a giant edifice. That’s what we’re 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. The ANRML operations involve magnetite iron-ore mining through beneficiation and pelletization 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.

Minister Harps On Value Addition For Nigeria’s Mineral Resources

March 27, 2024

The Minister of Solid Minerals Development Dr Dele Alake has harped on the need for value addition for Nigeria’s Solid Mineral resources. Alake stated this when he paid a visit to the African Natural Resources Mines Limited plant (ANRML) at Gujeni, Kagarko LGA in Kaduna state yesterday. Alake who was there alongside the minister of Industry, Trade and Investment, Doris Nkiruka Uzoka-Anite, said local value addition is a critical part of the ministry’s seven-point agenda. “Last week, I made the point that we will no longer licence any company that wants to engage in our mining sector without any concrete plan for any local value addition. So today’s event is a milestone because here is a company that has obeyed our admonition and in concrete terms, shown the whole world what local value addition means. “It’s not just going to mine our iron ore and export it away but they are going to process and refine it here. So, I am happy that we have an example to show to the rest of the companies that are in Nigeria’s Mineral sector. This is a company that is worthy of emulation and I commend the GMD for this remarkable achievement.” Alake said. The group managing director, African Industries Group, Alok Gupta, said the real wealth of a nation lies in its natural resources. He said: “Nigeria, a nation of strength, resilience and limitless potential is blessed with abundant natural resources. Our Iron ore mining and processing plant is Nigeria’s largest non-oil FDI and marks a significant stride in the direction of utilising this wealth to make real wealth for Nigeria.We have a mining capacity of over five million tonnes per annum. The Direct Reduced Iron (DRI) produced here will be a direct substitute for ferrous scrap currently used as raw material for producing steel in Nigeria. It will also gradually position Nigeria as a prominent Crude Steel producer globally.”Gupta said. He added that African Natural Resources and Mines Limited (ANRML) has created direct and indirect employment for up to 4000 Nigerians, giving regular disposable income to feed many families. He said the company is a testimony of the government’s commitment to reduce steel importation, promote local manufacturing, boost foreign reserves, and contribute to GDP. Minister of Industry, Trade and Investment, Doris Nkiruka Uzoka-Anite said the ministry’s industrial revitalisation plan approved by the Federal Executive Council has a full focus on the steel sector because the sector is the bedrock of infrastructural development which leads to industrial revitalisation. He commended the company for aligning with the federal government’s renewed Hope Agenda.

Value Addition Is New Standard In Mining Operations – Alake

March 27, 2024

The Minister of Solid Minerals Development, Dr Dele Alake has declared value addition as the new indispensable standard for mining operations in the country. Alake made the declaration in a statement issued by his Special Assistant on Media, Mr Segun Tomori, on Tuesday in Abuja. Recall that the minister had earlier said that the federal government had resolved to ensure compliance to value addition before permitting investors to operate. He said that his seven-point agenda for the ministry had placed the mining sector on the global front burner since assuming office, which had generated renewed interest from the international community in Nigeria`s mineral resources. According to the statement, the minister lauded a mining company, African Natural Resources and Mines Ltd. (ANRML), during an inspection tour in Kaduna State, for its 600 million dollar facility dedicated to the mining and processing of magnetite iron-ore. He described the move as in line with the government`s resolve for value addition, which is especially apt given President Bola Tinubu`s quest to develop the solid minerals, to boost Nigeria`s economic profile and to meet the global upsurge in energy transition. “The company aligns with our vision of value addition and beneficiation through its processing of iron-ore, and I urge other mining companies to take a cue from them, “ he said. He reiterated the government`s commitment to abstain from granting mining licenses to companies that lack the necessary plans for value addition. The minister acknowledged that resilience, courage and laying a solid foundation were critical in contributing to the company success. He added that such factors also serve as guidelines for President Tinubu`s administration in its efforts for economic transformation. “ We have set our minds in this administration and invariably in Nigeria to achieve success, that is why Mr President is restructuring the economy. Negotiate with bandits, give them promising future – Shittu tells FG “When this company (ANRML) 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 is what we are going through. When we get through the gestation period, the results will manifest, and it will herald prosperity, “he said. Recall that that the minister had stated that no license would be granted to companies wishing to enter the mineral sector without presenting a plan for value addition, such as processing and refining which has multiplier effect on the economy.