Alake declares value addition as standard for mining in Nigeria

2 min read

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.

See also  Ekiti chief eyes Guinness World Record for marathon TV watching

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.


Asisat Oshoala, four-time African Footballer of the Year and FC Barcelona Femení star, has announced the launch of the ‘Asisat Read more

Stronger cooperation, partnership, pathways to better world, Tinubu tells G20 leaders
"How to Apply for Tinubu's Student Loan"

President Bola Tinubu observed on Saturday in New Delhi, India, that stronger collaboration, cooperation, and partnerships among diverse regions are Read more

Tinubu orders take-off of Student Loan Scheme September 2023
"How to Apply for Tinubu's Student Loan"

President Ahmed Bola Tinubu has approved the constitution of an inter-ministerial committee to ensure the seamless take-off of the Student Read more

Great loss to Ibadan Oyelade’s death,

The Agbaofin of Ibadanland, Chief Bolaji Ayorinde, has described the death of Ekefa Olubadan, Senior Chief Lateef Oyelade, as a Read more

You May Also Like

More From Author

+ There are no comments

Add yours