Nigeria and France have signed a memorandum of understanding (MOU) to develop, promote and diversify the critical solid minerals value chain. The MOU, which includes sustainable mining activities, joint extractive and processing projects in line with international best practices is expected to open new opportunities for the remediation of over 2,000 abandoned pits in the country.
In a statement signed by the Special Assistant to the Minister of Solid Minerals Development on Media, Segun Tomori, on Sunday, December 1, 2024, Critical minerals such as copper, lithium, nickel, cobalt, and rare earth elements are essential to clean energy technologies, adding that the MOU will be a boost to President Tinubu’s effort to reposition the Nigeria’s solid mineral sector..
The statement revealed that the MOU was signed by both countries on the sidelines of the official visit to France by President Bola Ahmed Tinubu, recently, with both countries agreeing to collaborate on research, training and Franco-Nigerian students exchanges for knowledge and skills transfer.
According to the statement, a key component of the MOU is the promotion of sustainable mining activities by executing projects and programmes that reduce the environmental impact of mining on carbon emissions, water consumption, and climate change.
The MOU also includes the establishment of joint extractive and processing projects through co-financing by public and private entities to diversify and secure the supply of critical minerals and decarbonise energy projects critical to the value chain.
“Dr. Alake signed for Nigeria while the Inter-Ministerial delegate for Critical Ores and Metals of the Republic of France, Mr. Benjamin Gallezot, signed on behalf of France. “
“Both nations agreed to adopt international best practices in the execution of projects conceptualised to improve the conditions of the local populace affected by mining whilst placing premium on transparency. “
“The MOU is expected to open new opportunities for the remediation of over 2,000 abandoned pits in the country through its plan to intervene in environmental rehabilitation and post-mining projects. “
The statement added that through regular bilateral and multilateral training, seminars, and events, administrators of institutions in the critical metals sector are expected to improve their capacity to manage the sector’s value chain.
Describing the deal as a boost to the efforts of the Tinubu’s administration to reposition Nigeria’s solid minerals sector for international competitiveness, Alake stressed that the ministry would leverage the partnership to open up the mining sector to French investors.
