The Federal Government has committed its full backing to a \$400 million Foreign Direct Investment (FDI) initiative aimed at establishing Africa’s largest rare earth and critical minerals processing facility in Nasarawa State, with the potential to generate over 10,000 jobs across the country.
Minister of Solid Minerals Development, Dele Alake, praised the project sponsor, Hasetins Commodities Limited, for aligning with the Tinubu administration’s push for value addition and emphasizing mineral processing as a pathway to job creation.Hasetins plans to expand its capacity from 6,000 metric tonnes to 18,000 metric tonnes, as preparations intensify for the groundbreaking of the new facility.
Alake described the development as a major step in attracting investor confidence and stimulating growth in the mining sector. He noted that the project would facilitate skills development and enhance the solid minerals sector’s economic contribution.
During a courtesy visit by Hasetins Commodities Ltd’s Managing Director/CEO, Prince Jidayi, and his team, Alake commended the company’s strategic vision and national commitment in investing in the \$400 million project. He applauded the company’s alignment with the government’s policy focus on in-country mineral processing and value addition.
“Our continuous engagements have now led to this transformative project. With your support, we are witnessing the birth of Africa’s largest rare earth and critical minerals facility here in Nigeria. On behalf of the President, the Ministry, and the people of Nigeria, I applaud your dedication to this sector. Your patriotic commitment affirms that our policies are yielding real progress,” Alake stated.
Prince Jidayi, in his remarks, expressed gratitude for the Minister’s leadership and sector reforms, which he said have enhanced investor confidence and eased access to mining opportunities in the country.
Source : https://businessday.ng/
