Nigeria, Venezuela to jointly explore mining opportunities

From Charity Nwakaudu, Abuja

The Minister of Solid Minerals Development, Dr Dele Alake, and Venezuela’s Deputy Minister of Mining, Alejandro Martinez, are set to explore mining opportunities for economic development.

This was contained in a statement signed by the Special Adviser to the Minister, Kehinde Bamigbetan, in Abuja, from the ongoing Mining Forum in Cape Town, South Africa.

According to the statement, Dr Alake recalled how both countries benefitted immensely from petroleum production and sales until the campaign against global warming and economic recession compelled them to seek alternative revenues from solid minerals.

“Nigeria focused on petroleum. Now, the world is moving to green energy. Compulsorily, we have to shift our attention to our minerals. Diversification of the economy is a core component of President Tinubu’s Renewed Hope Agenda, and we have a lot of the minerals that the world requires,” he added.

“These include critical minerals like lithium, cobalt, nickel, and rare earth elements required by the world for energy transition.”

According to the statement, the minister stressed that both countries have had their fair share of political and economic challenges and should be encouraged to cooperate in exploring their resources in a sustainable manner for the highest benefit of the people.

“I can assure you of Nigeria’s readiness to cooperate with Venezuela in areas of exploitation of our minerals, trade in minerals, and production spanning the entire value chain,” Dr Alake stated.

“Take lithium, for instance. We don’t want our lithium to be extracted and carted away. We want our lithium to be processed and used to produce electric batteries, phone batteries, and solar power batteries to generate local employment that would create a catalyst and multiplier effect for our economy. I assume that is also your objective,” he emphasised.

According to the statement, the minister invited Venezuela to join a new coalition of African, Asian, and Middle Eastern countries in mining, named the Super Region, formed to ensure trade among members and take advantage of opportunities.

“It is a platform for countries with similar challenges aspiring to be economically independent, so we are ready and open for business with anyone, any nation, any investor that shows seriousness and a clear pathway for legitimate, sustainable, and local value addition plans.”

The statement said Venezuela’s Deputy Minister of Mining, Alejandro Martinez, thanked Alake for his understanding of the peculiar similarities of both oil-producing countries now seeking alternatives for their economies in the solid minerals sector.

Martinez sought the assistance of the Minister of Solid Minerals Development to facilitate collaboration by encouraging investors to visit the country and obtain information to aid investment.