The on-going Mines & Money conference holding in London, has presented an opportunity for Minister of Solid Minerals Development, Dr. Oladele Alake and United States Assistant Secretary for Energy and Natural Resources, Geoffrey Pratt to discuss on mutual cooperation.
One of such is the agreement between the duo to set up a team of officials of both countries to explore financing for credit to mining firms and infrastructure.
Pratt said his visit to Alake followed an earlier meeting with President Bola Ahmed Tinubu who sought the support of the US for the country’s economic revival.
He said the US would like to be Nigeria’s partner of choice in developing the solid minerals sector and was interested in the reforms announced by the minister in his address at the plenary of the conference.
Noting that the United States had various institutions and laws which encouraged direct foreign investment, Pyatt said he would notify the agencies to collaborate with their Nigerian counterparts to work out the framework.
Caption
Minister of Solid Minerals Development, Dr. Oladele Alake with the United States Assistant Secretary for Energy & Natural Resources, Geoffrey Pyatt discussing at the Mines & Money conference in Lond
Responding, Dr. Alake said the gesture was music to his ears
as the Ministry of Solid Minerals Development had launched a 7-point agenda as its roadmap to reposition the sector.
He highlighted the establishment of the new Solid Minerals Development Company, a new security architecture to ensure safety of mine operations and data generation on a massive scale to derisk the sector.
The minister noted that the credit facility and foreign direct investment promised by the United States would be in the mutual interest of both countries because energy minerals such as lithium were critical to the global crusade for clean energy and necessary for the manufacture of electric cars.
Also speaking at the meeting, the executive secretary of the Nigerian Solid Minerals Fund, Hajiya Fatima Shinkafi, commended the US for investment in mining infrastructure in central Africa, urging a similar partnership with the fund.
