The Nigerian Government has endorsed a landmark $400 million Foreign Direct Investment (FDI) initiative to establish Africa’s largest rare earth and critical minerals processing plant in Nasarawa State, located in the North-Central region of the country.
The project, spearheaded by Hasetins Commodities Limited, is expected to generate over 10,000 jobs nationwide and position Nigeria as a leading hub for critical metals on the continent.
The Special Assistant on Media to the Minister of Solid Minerals Development, Dr. Dele Alake revealed this in a statement.
Minister of Solid Minerals Development, Dr. Dele Alake, described the investment as a significant endorsement of President Bola Tinubu’s value addition agenda, which prioritises in-country mineral processing as a catalyst for job creation and economic diversification.
Speaking during a courtesy visit by the Managing Director/CEO of Hasetins Commodities Ltd, Jidayi Ijudigal, and his delegation, Dr. Alake praised the company’s strategic vision and commitment to Nigeria’s mining sector.
“With your collaboration, we are now witnessing the establishment of the largest rare earth and critical metals plant in Africa, right here in Nigeria,” the Minister stated. “Your patriotic zeal confirms that our policies are on the right track and delivering real impact.”
Hasetins Commodities Ltd, which currently operates a 6,000 metric tonne processing capacity, aims to double output to 12,000 metric tonnes with the upcoming groundbreaking of the new facility. Beyond the flagship plant, the company is also investing in regional separation centers to further decentralise beneficiation and boost artisanal mining communities.
Prince Jidayi commended recent sector reforms, including the introduction of mining marshals and streamlined licensing processes, which he said have boosted investor confidence.
Echoing this sentiment, Hasetins’ Director of Corporate Affairs, Peter Butt, applauded Dr. Alake’s focus on local value addition, which he said aligns perfectly with the company’s sustainable development model.
Hasetins Commodities Ltd specializes in critical metals used in high-tech and defense applications, including rare earth elements and Platinum Group Metals (PGMs).
Reaffirming the government’s commitment, Dr. Alake emphasised that the Ministry would provide institutional support for the project, which he described as a strategic cornerstone in Nigeria’s industrial and economic transformation.