By Shakirudeen Bankole
The first day of the ongoing Nigerian Mining Week, holding at the Ladi Kwali Hall of the Continental Hotel in Abuja, kicked-off on Monday, November 18, 2024, with what appeared to be stakeholders’ scampering for opportunities within and around the sector.
Artisanal Miners, Big Scale Mining Companies, investors, geologists, equipment manufacturers, and policymakers, among others, all trooped to the event in search of their various subjects of interest.
The 3-day long event is being organized by the Miners Association of Nigeria,Vuka Group, a South African Mining Exhibition and Conference company, Mining Review Africa and PWC. The event was hosted by the Ministry of Solid Mineral Development (MSMD) while TheMiners (Magazine and Digital theminers.com.ng) is the media partner.
The 2024 Mining Week particularly became an headline event and a must-attend strategic forum for local, regional, and international mining players, given the Nigerian government’s ongoing reforms in the sector, especially it’s resolve to pursue diversification from Crude Oil.
The Mining Sector and the entire Agricultural value chains seem the top priorities of the government.
For instance, a review report on the potential of the sector by the National Bureau of Statistics, projects that the Mining Sector is estimated to generate over $700Billion for the country, if well nurtured.
This projection, and the political will by the President Bola Ahmed Tinubu Government, through the Ministry of Solid Minerals and Development, led by Dr. Dele Alake, account for the growing attention on the sector.
The team of TheMiners ( Magazine and Digital theminers.com.ng) at the event in Abuja, found out that the eyes of the investors are particularly locked on how to maximise the opportunities that come with the ongoing reforms in the sector.
“I am here at the Mining Week to look at what is on the ground, in terms of physical opportunities and how to safely explore them for a win-win situation,” a foreign investor told TheMiners.
For the duos of Jeffrey Wang, Country Director for Xugong Nigeria Company Limited, a China-based heavy duty manufacturing company, and Edwin Lyn, the Sales Manager for Yantai Jinpeng Mining Machinery Company Limited, their companies priority was to bring their advance technological advantage to assist Nigeria in its mining revolutionary agenda.
“We have brought our modern and latest heavy duty equipment here for sale. These equipment are what is driving the global mining exploration in Asia, Europe, and the west. And we have brought them here with competitive pricing and complimentary service charges such as training and maintenance supports, Wang said.
For Sarah Zhang, a Sales Representative with the Vasoar company, a Crushing and Screening Systematic Solution, her company has decided to visit Nigeria, for the first time, to catch up with its ongoing economic revolution through the mining sector.
“Before now, we used to sell our equipment to Chinese distributors who bring them here to sell. But now, having understood the growing competition and the ongoing reforms in the sector, we have decided to come by ourselves. The advantage of this include reduced product price, removal of middle men, direct agreement and commitment to maintenance supports among others, Zhang, told our editor.
Tonmoy Chakraborty, the Project Manager for the Mining Business Arm of the Africa industry Group, said it would be too hasty for any developing country to completely neglect their coal mineral.
He said coal is relatively cheaper to power growing industrial agenda, and the introduction of scientific methods into its usage can reduce the green house gas emission concern.
“Europe, America and China are still using coal for some part of their industrial activities. This goes to show that even as the world gravitate towards renewable energy, there will still be a space for the coal mineral. Because it is still deposited in large quantity around the world, it is still relatively cheaper and good for growing industrial economies like Nigeria,” he said.
