Venezuelan Investors Show Interest in Nigeria’s Mining Sector
Venezuelan Deputy Minister of Mining Alejandro Martinez expressed interest from Venezuelan investors in Nigeria’s mining sector during discussions with Minister Dr. Dele Alake at the Mining Indaba. This collaboration aims to support sustainable mineral exploration and economic diversification, focusing on leveraging essential minerals for local production and job creation while inviting Venezuela to join the “Super Region” coalition.
Venezuela’s Deputy Minister of Mining, Alejandro Martinez, has announced that Venezuelan investors are interested in exploring opportunities within Nigeria’s mining sector. This was communicated during discussions with Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, at the ongoing Mining Indaba in Cape Town, South Africa. Martinez expressed a particular interest from Venezuelan investors who specialize in manufacturing mining machinery and equipment, seeking collaboration and information to facilitate their investment in Nigeria.
Minister Alake noted that both Venezuela and Nigeria have previously benefited from petroleum production; however, they are compelled to diversify due to global warming and economic challenges. Alake emphasized the importance of transitioning to mineral resources, aligning with President Tinubu’s Renewed Hope Agenda, which promotes economic diversification. He pointed out that Nigeria possesses essential minerals like lithium, cobalt, nickel, and rare earth elements that are crucial for the global energy transition.
Alake highlighted that the political and economic challenges faced by both nations could serve as a foundation for cooperation in sustainable resource exploration. He stated Nigeria’s commitment to collaborate with Venezuela on mineral exploitation and trade throughout the entire value chain. Particularly regarding lithium, he mentioned that Nigeria aims not only to extract this resource but also to process it into products such as batteries to foster local employment.
Furthermore, Minister Alake extended an invitation for Venezuela to participate in a new coalition known as the “Super Region”, which consists of African, Asian, and Middle Eastern countries focused on mining. This coalition aims to facilitate trade among member countries and work towards economic independence amid similar challenges. Alake expressed Nigeria’s openness to serious investors prepared to pursue legitimate, sustainable value-adding initiatives.
The dialogue between Venezuelan and Nigerian officials during the Mining Indaba in Cape Town highlights a strategic interest in collaboration within the mining sector. As both countries shift focus from petroleum to minerals due to global economic pressures and environmental considerations, they are seeking mutual benefits. The emphasis on processing local resources is critical for job creation and economic resilience, particularly in light of the global shift towards green energy.
In summary, Venezuelan investors are keen to explore opportunities in Nigeria’s mining sector, highlighting the potential for collaboration between the two countries. Minister Alake’s insights emphasize the importance of diversifying economies away from petroleum toward minerals, which are essential for the global energy transition. The establishment of the “Super Region” coalition reflects a proactive approach to trade and sustainable development in the mining industry.
Original Source: punchng.com
