National Telescope national telescope newspaper
By Ekpenyong Emmanuel
Nigeria and Saudi Arabia are set to boost their mining sectors through a renewed partnership.
The agreement aims to leverage Saudi Arabia’s expertise in mineral exploration to enhance Nigeria’s geological agencies.
At a bilateral meeting in Riyadh, Saudi Arabia, Minister of Solid Minerals Development, Dr. Dele Alake, met with Saudi Arabia’s Minister of Mining, Bandar Al-Khorayef.
Alake proposed collaboration on areas of economic advantage, highlighting the potential for Nigeria’s gold refineries to access the Saudi market.
“This initiative is not mentioned in the provided text, however, Saudi Minister of Mining, Engr Bandar Al-Khorayef, emphasized the importance of introducing new technologies for mineral exploration”.
The partnership is expected to attract Saudi investment in Nigeria’s mining sector, particularly in lithium and iron ore.
To mitigate investment risks, the Nigerian Geological Survey Agency will provide relevant data on minerals of interest.
Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, noted that the global shift towards electric machines using lithium batteries has made Nigeria a critical supplier of minerals.
He believes that partnering with Saudi investors will encourage the export of finished industrial inputs.
The agreement is a significant step towards strengthening Nigeria’s mining sector and diversifying its economy.
With Saudi Arabia’s expertise and investment, Nigeria is poised to unlock its mineral potential and become a key player in the global mining industry.
