The federal government engaged in talks with South Korea on revising a Memorandum of Understanding between the two countries on investments in the solid minerals sector.
The discussions led to a decision to revise the 2006 Memorandum of Understanding, with a focus on training Nigerian mining professionals in Geochemistry, Geophysics, Ore Modelling, Mineral Processing, research, and exploration of critical minerals such as lithium, nickel, cobalt, manganese, and graphite.
A press release from the Ministry of Solid Minerals Development’s Deputy Director of Information, Alaba Balogun, confirmed this development.
He stated,
“Talks on revising a Memorandum of Understanding between Nigeria and South Korea on investments in solid minerals sector topped discussions between Nigerian public and private sector officials and the South Korean government recently.
“The Nigerian team comprised officials of the Ministry of Solid Minerals Devt and Oando Mining Company, while the Korean Institute of Geosciences and Mineral Resources, KIGAM, and Korean Mines Rehabilitation and Mineral Resources Corporation, KOMIR, represented South Korea.
“The talks held under the auspices of the Seventh Korea-Africa Economic Co-operation conference in Busan, South Korea, resolved to review a 2006 Memorandum of Understanding to include training of Nigerian mining professionals in Geochemistry, Geophysics, Ore Modelling, Mineral Processing, research, and exploration of critical minerals such as lithium, nickel, cobalt, manganese, and graphite.
“Dr Abdulrazaq Garba, the Director-General of the Nigerian Geological Survey Agency, represented the Solid Minerals Minister, Dr Oladele Alake, at the talks.
“KIGAM president, Dr Pyeong Koo-lee, offered to collaborate with Nigeria to explore the large deposits of lithium-bearing pegmatites.
“He said KIGAM has the best technology in lithium ore processing, adding that the beneficiation process can reduce the carbon to improve the grade of the ore.
“Vice President of the state-owned KOMIR, Dr Alex Kwon, expressed interest in overseas mining investment, adding that KOMIR provides technical and financial assistance and investment in the exploration and mining of solid minerals. Noting that KOMIR partner’s private sector to invest in the global mining industry.”