Chinese Investors Eye
Solid Minerals sector
More
than fifty Chinese investors have indicated interest in
Nigeria’s solid minerals sector.
Making their intent known at the Nigeria Business Forum in
Abuja, the prospective investors listed iron ore, coal and gold
among the seven strategic minerals of their interest.
Mines and Steel Development Minister, Diezani Alison-Maduekwe
said the interest of the investors in coal, iron ore and gold
would boost development of the sector as the three minerals had
sufficient reserves.
According to her, ’’Iron ore has an estimated reserve of some
three billion tonnes with grades ranging from 32 per cent to 50
per cent iron content, while gold has proven reserves of three
hundred thousand ounces with two million ounces as estimated
reserve.’’
Alison-Maduekwe said the development of coal was critical, given
the government’s desire to utilise the mineral as an alternative
energy source.
NAN/Yinka
