Mining investors in the United Kingdom, UK, have expressed commitment to invest in Nigeria’s tin ore, as they described the sector as Africa’s mining hub and destination.
According to a statement by the Personal Assistant on Media to the Minister of State for Mines and Steel Development, Ishaku Kigbu, where the Chief Executive Officer, CEO, of HANNAM and Partners, Neil Passmore, disclosed the company’s commitment to initiate a deep investment drive in the tin industry.
Paasmore stated this when he had interaction with the minister of State for Mines and Steel Development, Abubakar Bwari, including other top government officials on his entourage, which were the Permanent Secretary of the Ministry, Georgina Ekhuria, Project Coordinator MinDiver, Mr Linus Adie, the Director General Mining Cadatre, MCO, Mohammed Amate, and Rose Ndong.
According to him (Passmore) his company and partners were eager to commerce invest in Nigeria’s tin, and referred to tin as the new wave in global mining business and investment, and revealed their investment will also be in some already existing tin value chain and businesses including harnessing other sources of capital for already existing companies, which he also described Nigeria’s mining sector as “Africa’s leading most investable nation in terms of demographics.”
He said: “Nigeria is a great country to do business and invest in. We are interested in coming in to explore and bring in more investors in the sector. Indeed most companies around the world by our findings are already telling others about the vast investment potentials both in the solid minerals sector, agriculture and telecoms.
“We want to come in early and having been active in the country in other sectors we feel comfortable. We want to take deeper drive into tin investment in Nigeria and ready to quickly sign a Memorandum of Understanding, MoU, or partnership to commence business.
Our aim is to be the renewed vanguard in tin mining because tin is the commodity now around the globe.” While responding to the HANNAM and Partners boss, the Minister said the company will enjoy the mouth-watering incentives awaiting it and other investors, as the investment timing was “the right time” as Nigeria’s tin is largely untapped and also assured them of government’s enabling environment to operate.
He said, “You are coming at the right time. We welcome you and wish to tell you that you will be floating because we have brown fields yet untapped. For the series of investment meetings we have had priority areas investors have been interested in are tin, lead, zinc and gold. “We are particularly happy that you are from Europe. We are ready for European mining investors and encourage them to come in, invest. “We have a lot of Asians from China, Australia and Canada who are doing mining business in Nigeria and very pleased to have you from Europe interested in doing mining business in Nigeria. We are encouraging you from Europe to come and invest in mining in Nigeria.”
Also speaking was the Project Coordinator the Mineral Sector Support for Economic Diversification, MINDIVER, Linus Adie, added that, “The International Tin Council, ITC, based in the United Kingdom believes Nigeria remains the largest exporter of tin from Africa even though it is done through artisinal mining.”