"Nigeria Taps South Africa\u2019s Mining Expertise In New Minerals Pact"

" Nigeria Taps South Africa\u2019s Mining Expertise In New Minerals Pact \r\n \r\n\r\nNigeria and South Africa have signed a Memorandum of Understanding (MoU) aimed at deepening cooperation in the mining sector.\r\n\r\n \r\n \r\n \r\n \r\n\r\nNigeria 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.\r\n\r\n \r\n \r\n\r\nThe agreement was formalized in Abuja by Nigeria\u2019s Minister of Solid Minerals Development, Dele Alake, and South Africa\u2019s Minister of Mineral Resources and Energy, Gwede Mantashe.\r\n\r\n \r\n \r\n\r\nAlake 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.\r\n\r\n \r\n \r\n\r\nAlake emphasised that the bilateral cooperation holds promise for industrialisation, employment generation, and sustainable economic development across the African continent.\r\n\r\n \r\n \r\n\r\nFor years, Nigeria\u2019s economy has leaned heavily on oil as its primary revenue source. However, hidden beneath the surface is a vast reserve of untapped wealth.\r\n\r\n \r\n \r\n\r\nThe country boasts over 23 mineral resources in commercial quantities, including gold, limestone, lithium, iron ore, and zinc. Despite this abundance, Nigeria\u2019s mining sector has remained largely underdeveloped, contributing less than 1% to the nation\u2019s GDP.\r\n\r\n \r\n \r\n\r\nMining has played a crucial role in the development of South Africa\u2019s economy, Africa\u2019s 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.\r\n\r\n \r\n \r\n\r\nSouth Africa\u2019s mining industry ranks as the fifth largest globally in terms of its contribution to gross domestic product (GDP).\r\n\r\n \r\n \r\n\r\nMines Minister Dele Alake noted that South Africa\u2019s established mining expertise makes it a critical partner as Nigeria works to revitalize the industry.\r\n\r\n \r\n \r\n "

"Nigeria Taps South Africa\u2019s Mining Expertise In New Minerals Pact"

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