200 Chinese firms set to invest in Nigeria’s mining sector

0
197

No fewer than 200 Chinese mining companies have declared interest in investing in Nigeria’s mining sector, Daily Trust reports.

The Minister of State in the Ministry of Mines and Steel Development, Bawa Abubakar in September, led Nigeria’s delegation to the China Mining Conference in China. During the conference, Nigeria and China organised the second Cino-Nigeria Summit to showcase Nigeria’s mineral potentials.

A competent source at the ministry said; “We got this huge number of investors through a website set up as Cino-Nigeria Finance Alliance Group during the summit”. The source said the ministry, elated by the feat, had stepped up arrangements to receive the investors before the end of the year, to enable them begin necessary steps towards investing in the sector.

The main solid mineral resources in Nigeria include coal, iron ore, tin ore, rare metals (niobium, tantalum). There are also deposits of brown coal, uranium, manganese, tungsten, gold, copper, molybdenum, lead, and zinc and mining chemical raw materials among others.