Nigeria to collaborate with Chinese firm in development of mining sector

[Report by Abdulkadir Badsha Mukhtar: "Mining: FG To Collaborate With Chinese Firm"]

The Federal Government has expressed willingness to collaborate with Chinese firm and other relevant stakeholders in its bid to achieve a sustainable development in mining sector in the country Mines and Steel Development Minister Mrs Diezani Alison-Madueke made this known recently, when she met with a delegation of Industrial Commercial Bank of China (ICBC) in her office.

According to the minister, FG is working pro-actively at ensuring that an enabling environment is created for the exploitation of the abundant solid mineral resources to the optimal level, as well as attracting both local and foreign investors to the country.

She said FG had also put in place policies such as Guarantee of Assets Tenure, Mineral rights; 100 per cent ownership of mines by foreign investors, Increase in tenure, as well as other incentives that would create an enabling environment for investment; saying this could be an opportunity for ICBC to come in and invest in the sector.

Mrs Alison-Madueke said 11 strategic coal clusters had been identified and positioned for each cluster to supply quantity of coal to Independent Power Projects situated within the clusters so as to create power transmission of about 500 megawatts and above.

While commending the ICBC for its strategic coal for power project in Botswana, she said that Nigeria, which is blessed with 2.7 billion metric tons of coal is hopeful of succeeding in using it for Power Project which is considered to be strategic and a pioneer one since the colonial era.

Earlier in his remark, the ICBC Chairman, who was the leader of the delegation, Mr Jiang Jianqing said that his mission was to seek for the cooperation of the ministry in the development of the nation's mining sector.

Source: Daily Trust website, Abuja, in English 23 Jun 09

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