The Minister of Solid Minerals Development, Dr. Dele Alake, has declared value addition as the irreducible standard for mining operations in the country.
Alake spoke in Kaduna during an inspection of the $600 million African Natural Resources and Mines Limited facility.
The firm hosts the mining and processing of magnetite iron ore.
Alake 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 the Minister, 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 licences 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.
Alake said: “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.
“When this company 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’s what we are going through.
Also Read:
- How Wike frustrated Peter Obi out of PDP – Atiku’s spokesman
- Tinubu won’t take sides in Rivers crisis – Presidency
- Three-year-old boy inside vehicle stolen in Ogun found in Lagos
- Is there still a need for electronic banking in Nigeria?, by Ola Emmanuel
- Gani Adams honours Segun Ajiboye with Aareonakakanfo title
“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.
The ANRML operations involve magnetite iron ore mining through beneficiation, and pelletisation processes, which results in Direct Reduced Iron and will eventually position Nigeria as one of the prominent crude steel producers upon the commencement of exports.