Venezuelan Deputy Minister Alejandro Martinez has indicated strong interest from investors in Nigeria’s mining sector. Discussions with Nigeria’s Dr. Dele Alake highlighted opportunities for cooperation in mineral exploration and the need for economic diversification. Both countries aim to shift focus from petroleum to critical minerals for sustainable development and job creation, forming strategic partnerships for mutual benefit.
Venezuela’s Deputy Minister of Mining, Alejandro Martinez, recently expressed his country’s investors’ keen interest in Nigeria’s mining sector. He made this statement during the ongoing Mining Indaba in Cape Town, South Africa, while engaging in discussions with Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake. Martinez emphasized the eagerness of Venezuelan investors, particularly those in mining machinery and equipment production, to seek opportunities in Nigeria’s emerging mining landscape.
Martinez has requested Dr. Alake’s assistance in facilitating collaboration between the two nations by encouraging Venezuelan investors to visit Nigeria to gain insights that would aid their investment. Minister Alake highlighted the historical mutual benefits derived from petroleum production but pointed to the necessity for both countries to pivot towards solid minerals in light of global economic shifts and environmental concerns.
Alake stated, “Nigeria focused on petroleum. Now, the world is moving to green energy. Compulsorily, we have to shift our attention to our minerals.” He underscored the significance of economic diversification, as outlined in President Tinubu’s Renewed Hope Agenda, particularly emphasizing the potential of critical minerals like lithium, cobalt, nickel, and rare earth elements in meeting global energy transition demands.
Both ministers acknowledged the political and economic challenges faced by their countries and the critical need for sustainable resource exploration. Alake assured Nigeria’s commitment to collaborate with Venezuela in the extraction and trade of minerals, advocating for local processing of resources such as lithium to foster job creation and economic development.
In an encouraging invitation, Alake proposed that Venezuela join a coalition of countries named the “Super Region,” which aims to promote mining cooperation among African, Asian, and Middle-Eastern nations, positioning them to achieve greater economic autonomy. He affirmed Nigeria’s readiness to engage with any nation or investor willing to establish legitimate pathways for sustainable and value-added mineral exploration.
The article discusses diplomatic engagement between Venezuela and Nigeria regarding potential investments in Nigeria’s mining sector. Amidst a global shift towards sustainable energy, both countries acknowledge the necessity for economic diversification beyond petroleum. The context is set against the backdrop of the Mining Indaba, where discussions on minerals crucial for energy transition take place.
In summary, Venezuelan investors are keen to explore collaboration opportunities in Nigeria’s mining sector, particularly in equipment manufacturing. Both governments recognize the need for a sustainable shift from petroleum to solid minerals, with Minister Alake emphasizing the importance of local processing. Cooperation through the proposed ‘Super Region’ aims to foster economic independence among member nations, highlighting the shared challenges both countries face.
Original Source: punchng.com
