Nigeria Taps South Africa’s Mining Expertise In New Minerals Pact

Nigeria and South Africa have signed a Memorandum of Understanding (MoU) aimed at deepening cooperation in the mining sector, with a focus on investment, knowledge sharing, and technology transfer between the two countries.

The agreement was formalized in Abuja by Nigeria’s Minister of Solid Minerals Development, Dele Alake, and South Africa’s Minister of Mineral Resources and Energy, Gwede Mantashe.

Alake said Nigeria and South Africa will collaborate on a range of mining initiatives, including geological mapping using drones, sharing of mineral data, and joint exploration of agro and energy minerals within Nigeria.

Alake emphasised that the bilateral cooperation holds promise for industrialisation, employment generation, and sustainable economic development across the African continent.

For years, Nigeria’s economy has leaned heavily on oil as its primary revenue source. However, hidden beneath the surface is a vast reserve of untapped wealth.

The country boasts over 23 mineral resources in commercial quantities, including gold, limestone, lithium, iron ore, and zinc. Despite this abundance, Nigeria’s mining sector has remained largely underdeveloped, contributing less than 1% to the nation’s GDP.

Mining has played a crucial role in the development of South Africa’s economy, Africa’s most advanced and wealthiest. The country is home to some of the most valuable mineral reserves in the world, including the largest known deposits of platinum group metals (PGMs) and manganese.

South Africa’s mining industry ranks as the fifth largest globally in terms of its contribution to gross domestic product (GDP).

Mines Minister Dele Alake noted that South Africa’s established mining expertise makes it a critical partner as Nigeria works to revitalize the industry.