Over 2,000 abandoned mining pits in the country are expected to be revived under a Memorandum of Understanding (MoU) between Nigeria and France.
Minister of Solid Minerals Development Dele Alake stated this at the weekend.
The MoU was signed during President Bola Ahmed Tinubu’s State visit to France.
In a statement by his Senior Special Assistant on Media Segun Tomori, Alake explained that the agreement would open new opportunities for the remediation of the abandoned mining pits.
The minister added that the MoU had boosted President Tinubu’s efforts at repositioning the country’s solid minerals sector for international competitiveness.
He stated that both countries agreed to develop joint projects to promote and diversify the sector’s value chain for both countries.
The minister added that the two countries identified critical minerals such as copper, lithium, nickel and cobalt as rare earth elements that are essential for clean energy technologies.
The key component of the MOU, according to the statement, is the promotion of sustainable mining activities by executing projects and programmes that reduce the environmental impact of mining.
It also includes the establishment of joint extractive and processing projects through co-financing by public and private entities to diversify and secure the supply of critical minerals and decarbonise energy projects critical to the value chain.
Under the MoU, both countries agreed to collaborate on research, training, and Franco-Nigerian student exchanges for knowledge and skills transfer.
Alake signed for Nigeria while the Inter-Ministerial delegate for Critical Ores and Metals of France, Benjamin Gallezot signed on behalf of his country.
Both nations agreed to adopt international best practices in the execution of projects conceptualised to improve the conditions of the local populace affected by mining whilst placing a premium on transparency.
Through regular bilateral and multilateral training, seminars and events, administrators of institutions in the critical metals sector are expected to improve their capacity to manage the sector’s value chain.
Alake promised that the ministry would leverage the partnership to open up the mining sector to French investors.
