A mining company, Segilola Resources Operating Ltd, has called for strategic investment in lithium, particularly because of its demand as one of the critical minerals for the global energy transition.
The Chief Executive Officer (CEO) of the company , Mr Segun Lawson, made the call in his remarks at the 2024 African Natural Resources and Energy Investment Summit (AFNIS), on Wednesday in Abuja.
Segilola Resources Operating Ltd, is an indigenous gold mining company in Ilesha, Osun state.
In 2023, the project produced 84,609 ounces ( 2,398.6 kilogrammes) of gold amounting to $194.4 million at current prices.
Lawson expressed delight that Nigeria was gaining recognition for its minerals, which it possessed in commercial quantities.
According to him, the country can reposition the solid minerals sector through addressing illegal mining.
“Concerted efforts and stakeholders engagement is required in addressing illegal mining .
“ Nigeria is loosing nine billion dollars in illegal mining,” he said.
He lamented that insecurity was also affecting mining activities and depriving the county of the requisite revenue it can derive from the sector .
The CEO, however, commended the federal government on its efforts in addressing the menace through the establishment of the Mining Marshals, a special unit drawn from the Nigeria Security and Civil Defence Corps (NSCDC), to combat illegal mining.”
He listed other challenges in the sector to include environmental degradation, mining by minors which he said require urgent action.
He said that the company was committed to developing the local economy of its host communities, saying that its work force was 98 per cent local employees .
He said the summit would showcase the vast minerals resources of Nigeria to the global community and boost its development .
“The summit will make Nigeria and Africa, attractive destination for Solid minerals investment ,” he said.
