Foreign investors target Nigeria’s mining industry

Nigeria’s fast growing mining industry has become a target for global experts, the organisers of the three-day National Mining Summit and Construction and Mining Machinery Exhibition, which begins on June 13, have said.

The organisers said that with new regulations, there had been increased interest from financiers and international parties ready to offer assistance to the industry.

“So too do developments in the sector. Last month, the World Bank earmarked $150m to support the Nigerian mining sector and there have been announcements that 30 per cent of Nigeria’s energy mix has now been forecast to be met by coal. The sector is moving and it is moving fast,” the organisers said in a statement on Tuesday.

According to the statement, the summit will help the industry’s development through ensuring that all key stakeholders from across the supply chain are present and enabling for businesses to connect with policymakers and financiers.

The organisers said there would be an important mix of international players from countries where mining was far more advanced to offer case studies and advice.

The statement read in part, “This will include Minister Mosebenzi Joseph Zwane from South Africa; Minister Dan Kazungu from Kenya; Monsieur Hassane Baraze Moussa, Ministre Des Mines, Niger; and Paul Lehman, the High Commissioner of Australia to Nigeria.

“Attendees at the summit will also hear from the likes of the Chief Executive Officer of the Ghana Minerals Commission, Dr. Toni Aubynn; the Executive Secretary of the Nigerian Investment Promotion Council, Ms Yewande Sadiku; and the CEO of the Nigerian Stock Exchange, Mr. Oscar Onyeama.”