A Chinese company, Huayttrium Nigerian Mining Co. Ltd., has expressed its readiness to invest in the mining sector of Bauchi state, Nigeria. The company visited the state’s Commissioner of Solid Minerals Development, Alhaji Abubakar Muhammad, on Wednesday and discussed its plans to explore the abundant mineral resources in the state.
According to the company’s representative, Mr. Li Ineijian, Bauchi state has excellent potential for mining business, as it has a conducive investment environment and a huge deposit of various minerals, such as gold, cassiterite, columbite, gypsum, wolfram, coal, limestone, lignite, and iron ore. He said the company has the expertise and technology to carry out mining activities in a sustainable and environmentally friendly manner.
The commissioner welcomed the company’s interest and assured them of the state government’s support and cooperation. He said the state is committed to developing its mining sector and creating jobs and wealth for its people. He also urged the company to adhere to the best practices and standards in the industry and respect the rights and interests of the host communities.
The visit of Huayttrium Nigerian Mining Co. Ltd. is part of the growing Chinese investment in Nigeria’s power generation sector and its digital economy. China is one of Nigeria’s top trading partners and largest bilateral lender. China is also financing and constructing large infrastructure projects in Nigeria, such as railways, roads, and airports.
China’s involvement in Nigeria’s mining sector is expected to boost its economic diversification and reduce its dependence on oil revenues. However, some experts have raised concerns about the transparency and sustainability of China’s loans and contracts, as well as the environmental and social impacts of its mining activities.
Nigeria’s rich mineral endowment has not been fully exploited due to various challenges, such as insecurity, policy inconsistency, inadequate infrastructure, and weak regulation. The country seeks to revive its mining sector and attract more local and foreign investors to harness its mineral potential.
Source: Tribune Online
