okwudili eze’s Post

https://lnkd.in/dQ7FC25F This collaboration is crucial for generating the geo-data needed to attract global investors* *Leadership in Africa:* Dr. Alake's efforts have also extended beyond Nigeria. He was appointed as the pioneer chairman of the Africa Minerals Strategy Group, a role that underscores Nigeria's leadership in the continent's mining sector. This position allows Nigeria to influence regional mining policies and foster unity among African nations to maximize the benefits of their mineral resources. *Economic Impact:* The reforms and initiatives under Dr. Alake’s leadership are expected to significantly contribute to Nigeria’s GDP. By focusing on value addition and local processing, the solid minerals sector is poised to become a major economic driver, creating jobs and fostering sustainable development. *Presentation of Nigerian Gold in Global Markets* First Commercial Gold Transaction: Dr. Alake announced Nigeria’s first commercial gold transaction under the National Gold Purchase Program (NGPP), which saw the sale of over 70 kilograms of gold refined to the London Bullion Market Good Delivery Standard. This transaction increased Nigeria’s foreign reserves by $5 million and marked a significant step in integrating Nigerian gold into the global market. *Conclusion* Through comprehensive efforts in regulatory reform, international collaboration, and strategic leadership, Dr. Dele Alake is transforming Nigeria's solid minerals sector. His focus on value addition, economic impact, and enhancing Nigeria's presence in the global gold market positions the sector for a sustainable and profitable future, significantly contributing to Nigeria's economic development and global standing. Henry Balogun HB Report The #411

I attended the Nigerian Economic Summit Group (NESG)'s interactive session on the "Launch of the African Mining Vision Private Sector Compact in Nigeria" today, and I'm absolutely fascinated! It's ironic that Nigeria, a country richly endowed with over 44 different types of non-oil mineral resources, including gold, copper, iron-ore, limestone, and bitumen, hasn't properly harnessed these resources . The African Mining Vision initiative aims to promote transparent, equitable, and optimal exploitation of mineral resources to drive sustainable growth and socio-economic development. This is music to my ears, considering Nigeria's solid mineral sector contributes a mere 0.5% to GDP, despite its vast potential As someone who's passionate about sustainable development, I'm excited to see the Nigerian government's efforts to diversify the economy through the solid minerals sector. The launch of the African Mining Vision Private Sector Compact is a step in the right direction, and I look forward to seeing the impact it will have on the country's economic growth. #SustainableMining #ResponsibleGovernance #Nigeria #EconomicGrowth #AfricanMiningVision #NESG

Investors in Nigeria's solid minerals sector are expressing keen interest in injecting $20 billion to enhance the nation's economy. Their focus lies on lithium, lead, gold, and other precious gems, aiming to develop their entire value chains. This signifies a significant potential for economic growth through strategic investment in the solid minerals sector, underscoring the need to shift our national economic and revenue priorities away from oil. The current administration under Tinubu's leadership is actively spearheading this transformative agenda.

Earlier today, I had the opportunity to make a presentation on "Minerals Value Addition and Value Chain Development - Essential Tools for Ghana's Development" at the Stakeholder Conference of Ghana's Minerals Income Investment Fund (MIIF). I emphasized the need to be intentional about leveraging Africa's mineral resources in value-added global supply chains. I also pointed out that the attainment of AU's Agenda 2063 can be optimzed if the Africa Mining Vision is implemented through regional coordinated efforts. Further, there is a need to consciously stimulate demand for value-added mineral products instead of the export of raw minerals. The involvement of governments in the sector must be with a commercial mindset, and I urged MIIF to help drive this paradigm shift if MIIF is to become one of the continent's significant sovereign wealth funds. #CriticalMinerals #ValueAddition #AfricaMiningVision #AUAgenda2063 #RegionalCoordination #MindsetShift #MineralIncomeInvestments

A knowledge-based economy could create an enabling environment to shift away from primary commodity #exports to develop locally-owned #goods processing industries, boost export oriented-economy and supply finished products, and improve cross-border #trade in #Africa currently at 20%. The continent possesses about 30% of the world's total mineral reserves, including gold, copper, platinum, cobalt, uranium, lithium, and more, all of which play pivotal roles in diverse industries, from #electronics and infrastructure to #energy production. What is fascinating is that these mineral riches are not concentrated in one specific region but are spread across the continent, significantly contributing to the economic growth of many African nations. Ghana, Africa's biggest gold producer, opened a new refinery in a bid to reap more value from its natural resources. The Royal Ghana Gold Refinery aims to refine 400 kilograms of #gold a day, sourcing the raw material mainly from artisanal and small-scale #mines, which officially account for a third of Ghana's output of about 4 million ounces a year. There's also a large but unknown amount of gold that's illegally produced by miners locally known as 'galamsey', who smuggle their output out of #Ghana. https://lnkd.in/eE27rSSX Ghana🇬🇭 is an #AfCFTA member country #Investing #TradeInAfrica #Markets #Trade #GDP #Growth #Economy #Mining #GlobalTrade #WorldEconomy #FX #OneAfrica #TradeUnderAfCFTA #KeepYourEyesOnTheHorizon #Export #BrandAfrica #Minerals

Nigeria launches mineral resources portal for investors

Transforming Nigeria’s artisanal and small-scale mining sector is key to advancing the #SDGs. Our new policy brief offers actionable insights to boost productivity, improve livelihoods, and secure revenue. This policy brief serves as a roadmap for stakeholders to engage in meaningful reforms that will transform the ASM sector into a robust contributor to Nigeria's economy, enhancing resource mobilization and fostering equitable growth. Learn more: https://bit.ly/47eZUvS

In 2023, #Mozambique achieved a record-breaking gold production of 1.6 tons, marking a significant increase of 32% year-on-year. This surpassed both previous projections and estimates for 2024. Each kilogram of gold currently holds a value of nearly US$67,000 on the international market, resulting in Mozambique's total gold production being valued at approximately US$111.6 million. This remarkable achievement represents 124% of government projections and reflects the positive performance of both artisanal mining and producing companies in the country. The growth in gold production is attributed to enhanced control of artisanal mining activities and the positive performance of key companies such as Explorator, Mutapa Mining Processing, and KD Prospero. Looking ahead, the Mozambican government anticipates further growth in the extractive industry sector, including a projected 18.6% increase in 2024, driven by the production of minerals such as gold, heavy sands, graphite, and thermal coal. 🚀🌍👌🏽 #GoldProduction #MozambiqueMining #ResourceSector #EconomicGrowth #MiningIndustry #InvestmentOpportunity #MineralWealth #MiningCompanies #NaturalResources #IndustryGrowth #GlobalMarket #MineralProduction #EconomicDevelopment #MiningOperations #SustainableMining #IndustryOutlook #Market

#Zambia #naturalresources #copper #commoditiestradingcompanies #miningcompanies #understatingprofits #Glencore #Trafigura #ResourceSovereignty #Africa #miningsector #transnationalcorporations #commoditymarkets 'Zambia made its first move in implementing plans to set up a state company to trade in the minerals that Africa’s second-biggest copper producer exports. The government — long suspicious that some mining companies under-declare production and profits — hopes the creation of a state minerals trading company will provide a window into where others are making money from Zambia’s resources.'

Harnessing Nigeria's Solid Mineral Wealth: A Path to Economic Diversification Nigeria's vast solid mineral resources, including gold, iron ore, and limestone, present a crucial opportunity for economic diversification beyond oil and gas. This sector can drive job creation, industrial growth, and economic stability. Key Strategies: 1. Regulatory Reforms: Streamline regulations to attract investments. 2. Infrastructure Development: Invest in roads, railways, and ports. 3. Capacity Building: Enhance technical training for a skilled workforce. 4. Environmental Sustainability: Adopt sustainable mining practices. 5. Research & Development: Innovate mining techniques for efficiency. 6. Market Expansion: Promote Nigerian minerals locally and globally. By collaborating across public and private sectors, Nigeria can unlock the full potential of its solid minerals sector, ensuring a prosperous and diversified economy. #EconomicDiversification #SolidMinerals #NigeriaWealth #SustainableDevelopment #IndustrialGrowth