Alake made the pitch in London at the Resourcing Tomorrow Annual Exhibition and Conference, according to a statement issued by his Special Adviser, Kehinde Bamigbetan.
Leading Nigeria’s delegation, the minister told participants that the country had recorded significant breakthroughs in mineral processing, attracting more than $2 billion in investments in lithium and rare earth projects over the past two years.
He attributed the surge in foreign direct investment to President Bola Ahmed Tinubu’s value-addition policy, which aims to end crude mineral exports and promote local processing.
“Since last year, companies such as Canmax Technologies, Jiuling Lithium, Avatar New Energy Nigeria Limited and Asba Group have collectively invested over $1.3 billion in lithium processing projects across Nigeria,” he said.
He disclosed that construction was already underway on a $50 million lithium processing plant near Abuja—one of a series of industrial clusters planned for Nasarawa, Kogi, Kwara and Ebonyi States.
Alake also highlighted the groundbreaking ceremony of Hasetins Group’s $400 million rare earth plant on November 19, describing it as a major step forward for Nigeria’s mineral beneficiation vision.
He further explained that the government had strengthened security in the sector by establishing Mining Marshals and deploying satellite technology to monitor mining operations across the country.
The Minister also introduced the Nigeria Solid Minerals Company as government’s preferred joint-venture partner, leveraging inherited mineral assets to support global investors seeking secure and profitable partnerships.
