Nigeria and France have agreed to develop joint projects to promote and diversify the critical minerals value chain in their solid minerals sectors.
In the Memorandum of Understanding (MOU) signed by both countries on the sidelines of President Bola Tinubu’s recent official visit to France, both countries agreed to collaborate on research, training, and Franco-Nigerian student exchanges to transfer knowledge and skills.
A key component of the MOU is the promotion of sustainable mining activities by executing projects and programmes that reduce the environmental impact of mining on carbon emissions, water consumption, and climate change.
It also includes the establishment of joint extractive and processing projects through co-financing by public and private entities to diversify and secure the supply of critical minerals and decarbonize energy projects vital to the value chain.
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Dr. Alake signed for Nigeria while the Inter-Ministerial delegate for Critical Ores and Metals of the Republic of France, Mr. Benjamin Gallezot, signed on behalf of France.
Critical minerals such as copper, lithium, nickel, cobalt, and rare earth elements are essential to clean energy technologies.
Both nations agreed to adopt international best practices to execute the conceptualised projects and to improve the conditions of the local populace affected by mining whilst placing a premium on transparency.
The MOU is expected to open new opportunities for the remediation of over 2,000 abandoned pits in the country through its plan to intervene in environmental rehabilitation and post-mining projects.
Through regular bilateral and multilateral training, seminars, and events, administrators of institutions in the critical metals sector are expected to improve their capacity to manage the sector’s value chain.
Describing the deal as a boost to the efforts of President Tinubu’s administration to reposition Nigeria’s solid minerals sector for international competitiveness, Alake stressed that the ministry would leverage the partnership to open up the mining sector to French investors.
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