The Minister of Solid Minerals Development, Dr. Oladele Alake, has brought a high-level delegation to discuss mineral development issues with the Commonwealth Secretariat.
The Punch reported that according to a statement, the calculated action was taken to strengthen Nigeria’s standing in the world’s solid minerals market.
Alake’s pledge to secure international backing sparked the talks, which centred on maximising the profits from deep sea mining in Nigeria’s coastal waters, according to a statement released on Sunday by his Special Advisor, Kehinde Bamigbetan.
The Commonwealth Secretariat highlighted the wealth of minerals, including copper, cobalt, nickel, gold, and rare earth elements, that could be extracted from Nigeria’s coastal region during the courtesy visit. The Secretariat also presented convincing prospects for deep-sea mining.
Alake emphasized that President Bola Ahmed Tinubu has acknowledged the solid minerals sector as a critical component of Nigeria’s economic diversification.
Highlighting the ministry’s Seven Point Agenda, Alake stated, “The establishment of a solid minerals company, comprehensive big data collection on mineral reserves, enhanced security measures for mining safety, and the socio-economic development of mining communities through effective community development agreements.”
Alake encouraged the Commonwealth to assist the Tinubu administration in its endeavours, recognizing the institution’s wealth of experience.
The Senior Director of the Commonwealth Secretariat’s Trade, Oceans, and Natural Resources Department, Paul Kautoke, praised the delegation’s visit and voiced hope that Nigeria would investigate lucrative prospects in deep sea mining.
As stated in the statement, Commonwealth representatives provided insights at the forum, including the Director of Natural Resources Victor Kitange, Trade and Investment Adviser, Opeyemi Abebe, Economic Adviser Daniel Wilder, and Ocean Governance Adviser Allison Swaddling.
The experts from the Commonwealth emphasized global advancements in deep sea mining while voicing concerns regarding Africa’s underwhelming involvement.
As a result, Alake acknowledged the need for a fresh strategy for mineral development and pledged to work with other ministries to conduct an extensive analysis of the implications of deep sea mining.
