Coy Lauds FG’s Mining Sector Reforms
L- R: General Counsel, Glencore plc, Shaun Teichner; Minister of Solid Minerals Development, Dr Dele Alake; Group CEO, Glencore, Mr Gary Nagle; Head of Oil, Glencore, Mr Alex Sanna, during an official visit to the minister’s office in Abuja.
Glencore plc, a Swiss multinational commodity trading and mining company, has lauded the Federal Government over its reforms in the mining sector.
Mr Gary Nagle, the Group Chief Executive Officer of the company, said this during a visit to the Minister of Solid Minerals Development, Dr Dele Alake in Abuja.
Nagle stated that the company was in Nigeria to seek opportunities to invest in the mining sector, particularly in critical minerals such as nickel, cobalt, and zinc.
Glencore, one of the world’s largest diversified natural resource companies, produce and markets a wide range of metals and minerals such as copper, cobalt, zinc, nickel and ferroalloys.
“We are ready to invest provided the government ensures stability in the business climate and creates an enabling environment.
“We are excited by what you are doing so far, so apart from oil and gas, we are looking at opportunities to invest in the mining sector with emphasis on nickel, cobalt, and zinc among others,’’ he said.
On his part, the minister assured of Nigeria’s readiness to welcome international big players into the mining sector, saying that the ongoing reforms were aimed at sanitising the sector and implementing friendly policies.
Alake assured that the administration of President Bola Tinubu would prioritise the establishment of an efficient governance structure toward creating a friendly operating environment in the mining sector.
” We want you to come here and invest because we have a preponderance of critical minerals like lithium, gold, zinc, and nickel among others that are in high demand globally.
“We are securing the mining environment through a new security outfit, mining marshals, and providing wide-ranging incentives for investments as well as establishing an efficient governance structure for the mining sector,’’ he said.
He urged investors to take advantage of Nigeria’s favourable investment climate and vast mineral resources by investing in the sector.
‘’The government is committed to attracting international big players who will fast-track the development of the mining sector, similar to the oil industry.
” We are offering tax waivers on imported equipment; policy of full repatriation of profits to home countries; removing bottlenecks to ease of doing business.
“The ministry is also ready to address any concerns that Glencore might have to facilitate smooth operations in Nigeria,” he said.
