Dr. Dele Alake, the Minister of Solid Minerals Development, stressed on Tuesday that the construction of gold refining and lithium processing facilities throughout Nigeria is establishing the nation as a major mineral hub in Africa and a vital international partner in minerals necessary for the shift to green energy.
Prior to the Future Minerals Forum, or FMF, in Riyadh, Saudi Arabia, Dr. Alake disclosed the information to Mr. Ibrahim Al-Khorayef, the Saudi Arabian Minister of Industry and Mineral Resources.
The minister claims that Nigeria’s value-addition strategy is already yielding tangible results. He disclosed that a $600 million lithium processing facility in Nasarawa State is prepared for commissioning, a high-purity gold refinery is now in operation in Lagos, and three more refineries are in various phases of development.
Dr. Alake praised Saudi Arabia for using the FMF to encourage cooperation between governments in Africa, the Middle East, Asia, and Europe. He conveyed Nigeria’s desire to strengthen ties with the Kingdom by utilizing each country’s relative advantages in the development of solid minerals.
Dr. Alake stated, “There are areas where Nigeria has advantages and others where Saudi Arabia excels.”
“We are eager to draft agreements that encourage significant and productive participation. He continued, “Capacity building, training mining professionals, technology transfer, and exploration, where Saudi Arabia has demonstrated expertise, are key focus areas.”
He also emphasized Nigeria’s enormous mineral resources, which includes rare earth elements and essential minerals for the world economy. He emphasized the significance of utilizing the FMF platform to create practical alliances based on justice, equity, and reciprocity.
A joint working group made up of Nigerian authorities and the Saudi Chamber of Commerce has been active over the past year, according to Dr. Alake, who was reflecting on interactions after the 2025 FMF. The group’s report is prepared and should be delivered prior to the end of the current forum.
The minister also emphasized the importance of working together on standards, mine-pit cleanup, ESG, environmental, social, and governance, and mineral traceability.
He clarified that traceability, together with well-defined implementation schedules and efficient monitoring and evaluation systems, should be a fundamental component of any collaboration since it boosts investor trust.
In response, Minister Al-Khorayef emphasized the significance of creating a workable and practical agreement on the development of solid minerals while reiterating Saudi Arabia’s long-standing friendship with Nigeria.
In order to sign it outside of the FMF, he suggested that the working group prepare a memorandum of understanding based on previous engagements.
Noting that Nigeria could greatly benefit from Saudi Arabia’s experience and advancements in this area, he also urged African countries to adopt cutting-edge mining technologies and encouraged Nigeria to provide investment opportunities in its mining sector to Saudi investors.
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