By Patrick Wemambu and Palma Ileye
The federal government has pledged full support for a plan to build Africa’s largest rare earth and critical minerals plant in Nasarawa State.
Expected to provide a major boost to Nigeria’s mining sector and industrial development – the project, backed by a $400 million Foreign Direct Investment from Hasetins Commodities Limited, is projected to create over 10,000 jobs across the country and significantly expand Nigeria’s processing capacity for key strategic minerals.
This development is contained in a press statement issued on Sunday by Mr. Segun Tomori, the Special Assistant on Media to the Minister of Solid Minerals Development, Dr. Dele Alake.
According to the statement, the minister made the announcement during a courtesy visit by the Hasetins leadership team.
Describing the project as a significant milestone, the Minister was optimistic that the processing plant would go a long way in contributing to government’s efforts to boost investor confidence and stimulate economic diversification through the mining sector. He added that it would promote skills transfer, local capacity building, and increased contributions of solid minerals to national GDP.
Dr Alake reaffirmed the government’s full institutional support for the project, reiterating the Ministry’s goal to turn solid minerals into a central pillar of Nigeria’s industrial growth and economic transformation.
Nigerian Pilot reports that Hasetins Commodities Ltd currently operates a 6,000 metric tonne facility, but the upcoming expansion will add another 12,000 metric tonnes in installed capacity, ahead of the formal groundbreaking of the new plant.
Speaking during the visit, Prince Jidayi Ijudigal, Managing Director/CEO of Hasetins, attributed the company’s decision to expand investment in Nigeria to recent reforms in the sector. He cited the introduction of mining marshals to curb illegal mining and simplified licensing procedures as key incentives.
