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Glencore Plc, a multinational company based in Switzerland, has shown interest in investing in Nigeria's solid mineral sector, with a particular emphasis on nickel, cobalt, and zinc.
This interest was revealed after the company's representatives, led by CEO Mr. Gary Nagle, met with the Minister of Solid Minerals Development, Dele Alake.
The CEO expressed approval of the current administration's efforts in transitioning the economy from oil and gas to solid minerals.
He stated, “We are ready to invest provided the government ensures stability in the business climate and creates an enabling environment.”
“We are excited by what you are doing so far. Apart from oil and gas, we are looking at opportunities to invest in the mining sector, emphasizing nickel, cobalt, and zinc, among others.
The minister affirmed Nigeria’s preparedness to embrace major international players in the mining sector, emphasizing that the ongoing reforms seek to streamline operations and enact favourable policies. Alake reiterated President Bola Tinubu’s commitment to establishing a robust governance framework to foster a conducive atmosphere for mining activities.
He said, “We want you to come here and invest because we have a preponderance of critical minerals like lithium, gold, zinc, and nickel among others that are in high demand globally.”
“We are securing the mining environment through a new security outfit, mining marshals, and providing wide-ranging incentives for investments as well as establishing an efficient governance structure for the mining sector,’’
He further relayed the activities of the Ministry, which include the security of mining sites through the creation of mining marshals, the provision of incentives and tax waivers, and the opportunity to repatriate profit for multinationals.
He urged investors to take advantage of Nigeria’s favourable investment climate and vast mineral resources by investing in the sector.
