Venezuelan Deputy Minister Alejandro Martinez expressed interest in collaborating with Nigeria’s mining sector during discussions with Minister Dr. Dele Alake at the Mining Indaba in South Africa. Both countries seek to shift focus from oil towards solid minerals, emphasizing sustainable resource management and economic diversification through international partnerships.
During the Mining Indaba taking place in Cape Town, South Africa, Venezuelan Deputy Minister of Mining, Alejandro Martinez, communicated the interest of Venezuelan investors in Nigeria’s mining sector. In discussions with Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, he expressed a specific eagerness among investors engaged in mining equipment and machinery production to explore ventures in Nigeria’s expanding market.
Martinez urged the Nigerian Minister to assist in facilitating this collaboration by encouraging Venezuelan stakeholders to visit Nigeria for more detailed investment insights. Alake reflected on the mutual benefits derived from petroleum production, indicating that both countries are now compelled to pivot towards solid minerals in light of global economic challenges and climate change.
Alake stated that Nigeria is focusing on mineral resources as part of President Tinubu’s Renewed Hope Agenda, which emphasizes economic diversification. He mentioned critical minerals such as lithium, cobalt, and nickel which are essential for the global energy transition. Furthermore, he emphasized the importance of processing local resources for value addition within Nigeria rather than merely exporting raw materials.
The Minister invited Venezuela to join a newly formed coalition known as the “Super Region”, consisting of African, Asian, and Middle Eastern countries. This coalition aims to foster economic independence through shared mining challenges and opportunities. Alake communicated Nigeria’s openness to collaborate with any nation that has a legitimate and sustainable investment approach, emphasizing local value addition in resource projects.
Venezuela has shown a strategic interest in Nigeria’s mining sector, increasingly important as both countries pivot from oil reliance to mineral resource development. The push comes in response to global climate initiatives and the economic downturn, which necessitate a diversification of revenue streams. Nigeria possesses abundant mineral resources critical for technological advancements and renewable energy solutions, which aligns with global demands for sustainable resource utilization.
The meeting between Venezuelan and Nigerian officials signifies a potential collaboration aimed at enhancing investment and development within Nigeria’s mining sector. Both countries recognize the imperative to leverage their mineral resources for greater economic sustainability and resilience. The establishment of the ‘Super Region’ coalition is a step toward fostering international partnerships to overcome shared challenges in mining.
Original Source: punchng.com
