The Federal Government of Nigeria, represented by the Minister of Solid Minerals Development, Mr. Dele Alake, and the United States, through Assistant Secretary for Energy and Natural Resources Geoffrey Pratt, have initiated discussions on financing mining projects in Nigeria.

This agreement was held on the sidelines of the mines and money conference in London.

Both officials have agreed to establish a joint team to explore funding opportunities for mining companies and related infrastructure.

Pratt said his visit to Alake followed an earlier meeting with President Bola Tinubu, who sought the support of the US for the country’s economic revival.

He said the US would like to be Nigeria’s partner of choice in developing the solid minerals sector and was interested in the reforms announced by the minister in his address at the plenary of the conference.

What Pratt said:

“Energy minerals such as lithium are crucial for the global clean energy movement and the production of electric cars,”

“The US would coordinate with relevant agencies to collaborate with their Nigerian counterparts and develop a framework for this partnership.”

The pursuit of Nigeria’s high-grade lithium reserves continues to gain traction globally. The lithium reserve in the country has also piqued the interest of South Korea.

Source: BI