“no Mining license without Value addition plan” – Dr. Alake warns

The Minister of Solid Minerals Development, Dr. Dele Alake, has issued a stern warning that no mining license will be issued to prospective investors without adequate plans for value addition on minerals. The minister’s declaration underscores the government’s commitment to promoting local value addition and ensuring sustainable development in the mining industry.

The statement was conveyed by Dr. Alake’s Special Assistant on Media, Segun Tomori, on Tuesday, emphasizing the Federal Government’s resolve to enforce compliance with value addition requirements before permitting investors to operate in the sector. Dr. Alake reiterated that his Seven-Point Agenda for the ministry prioritizes placing the mining sector on the global front burner, generating renewed interest from the international community in Nigeria’s mineral resources.

The minister’s proactive approach to promoting value addition in the mining sector has garnered significant recognition both domestically and internationally. His leadership has led to Nigeria’s elevation in the global mining arena, culminating in his election as the Chairman of the Africa Minerals Strategy Group (AMSG) at the Future Minerals Forum in Riyadh, Saudi Arabia. This prestigious appointment signifies a unified commitment among African nations to prioritize local value addition and beneficiation of mineral resources.

Dr. Alake emphasized the imperative of local value addition in the mining industry, stating, “We are no longer going to allow anybody or license any company that wants to go into the mineral sector without giving us a plan for local value addition, like processing, refining.” He stressed that such initiatives have a multiplier effect on the economy, generating employment opportunities and fostering economic diversification.

The minister highlighted the need for minerals to be processed within Nigeria, thereby creating more value and benefiting local communities where they are sourced. This strategic shift aims to prevent the exploitation of mineral resources for export without adding significant value to the domestic economy. Dr. Alake emphasized the importance of processing minerals locally to maximize their economic potential and empower local communities.

Dr. Alake’s commitment to promoting value addition in the mining sector was further underscored during a recent meeting with members of the House Committee on Solid Minerals. The minister commended the lawmakers for their support in repositioning the mining sector, emphasizing the collaborative efforts required from both the executive and legislative branches of government to boost Nigeria’s economic profile.

Acknowledging the significant contribution of sub-national entities to mining development, Dr. Alake highlighted the role of state governments in driving mining activities. He emphasized that state chairmen of Mineral Resources and Environmental Management Committee (MIREMCO) and committee members are nominated by state governments, emphasizing the importance of collaboration between the federal and state levels in advancing the mining sector.

In conclusion, Dr. Dele Alake’s advocacy for value addition in the mining sector reflects the government’s commitment to promoting sustainable development and economic diversification. By prioritizing local processing and beneficiation of mineral resources, Nigeria aims to maximize the socio-economic benefits derived from its abundant natural resources and foster inclusive growth and development across the country.