African Leaders should choose value addition as a criteria for investment in mining sector-Alake

By Victoria Onehi

Nigerias’ Minister of Solid Minerals Development, Dr. Dele Alake has charged African leadere to choose value addition as a prerequisite for investment in the mining sector. 

This is as Nigeria broke new grounds in the global mining industry on Monday, clinching the chair of the newest mining pressure group, the Africa Minerals Strategy Group.

Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake was unanimously elected the Chairman of the Africa Minerals Strategy Group.

Speaking at the signing of the resolution, Dr. Alake charged African leaders to forge a common front  to get maximum benefits from the mineral resources on the continent. 

The event which held on the sidelines of the 30th edition of Investing in Africa Indaba, Cape Town, South Africa, was attended by ministers of mineral development of Uganda, Democratic Republic of Congo (DRC), Sierra Leone, Somalia, South Sudan, Chad,Botswana, Zambia and Namibia.

More than 15 countries have pledged support,  with the list expected to grow as the AMSG under Nigeria’s leadership swings into action.

In a statement by  his Special Assistant on Media,Segun Tomori,the Minister stressed that the era of  carting away solid minerals is over, charging countries on the continent to speak with one voice on value addition as a prerequisite for investment in the mining sector. 

” Today, there is economic scramble for Africa. The critical metals needed for the energy transition are in Africa. Therefore, if we do not come together this time around and  take our destinies in our hands, we will go through the same harrowing experiences of the past. That is why we formed this body . 

It will be recalled that Nigeria and Uganda in January rallied African Ministers of Solid Minerals/ Mineral Resources on the sidelines of the Future Minerals Forum (FMF) in Riyadh Saudi Arabia, on the need to unite and champion value addition in the mining sector to boost the economy of African countries. 

” Let those who want our minerals know that if you go to country A, you have the same regulations and laws guiding the sector. You go to country B, you find the same. So, there is no divide and rule anymore. That is when we can show sincerity of purpose, and the world will begin to take Africa seriously. On behalf of our president , I pledge our full support to achieve our objectives, “the Minister asserted.