The Minister of Solid Minerals Development, Dr Dele Alake, has declared value addition as the irreducible standard for mining operations in the country.
According to a statement by Segun Tomori, the special assistant to the minister on media, Alake spoke while on inspection tour of the gigantic $600m African Natural Resources and Mines Limited (ANRML) facility in Kaduna state where hailed the tenacity and foresight of the investors to build what is touted as one of the biggest foreign investments in the mining sector.
According to Alake, the company aligns with his vision of value-addition and benefits through its processing of iron-ore. He therefore urged other mining companies to take a cue from it even as he restated the position of government to refrain from granting mining licences to companies without requisite plans for value-addition.
Drawing parallels between the experience of ANRML and economic situation in the country, the minister noted that the same ingredients of resilience, courage and solid foundation that made the company a success story are critical factors that guide the economic restructuring of the present administration.
“I want to use you, the African Natural Resources and Mines Ltd, as a concrete example of what can happen when you set your mind to it. We have set our minds in this administration and invariably in Nigeria to achieve success; that’s why Mr president is restructuring the economy. When this company started seven years ago, we saw one of the foundations through a video documentary, the amount of concrete that went in to erect the foundation, just to carry a giant edifice. That’s what we are going through. When we get through the gestation period, the results would manifest and herald prosperity,” Alake said.
In her submission, the minister of industry, trade and investment, Dr Doris Azoka-Aniete, lauded the company for its giant strides in iron ore production and processing, stressing that the company would be part of the nation’s efforts to scale up local steel manufacturing and local manufacturing of automobiles through the Nigeria Automotive Industry Plan.
ANRML operations involve magnetite iron-ore mining through to beneficiation and pelletisation processes which results in Direct Reduced Iron (DRI) that eventually positions Nigeria as one of the prominent crude steel producers upon the commencement of exports.
