The Federal Government has announced its full support for a $400 million investment project to establish Africa's largest rare earth and critical minerals processing plant in Nasarawa State, a development expected to transform Nigeria's mining sector and boost industrial growth.
The ambitious project, spearheaded by Hasetins Commodities Limited, represents a significant milestone in Nigeria's strategy to add value to its natural resources through domestic processing. According to government projections, the facility will generate over 10,000 jobs across the country and substantially enhance Nigeria's capacity to process strategic minerals.
Dr. Dele Alake, Minister of Solid Minerals Development, made the announcement during a weekend courtesy visit by Hasetins' leadership team. In a statement released by his Special Assistant on Media, Segun Tomori, Alake described the initiative as a direct result of the Tinubu administration's reforms and its commitment to in-country beneficiation.
"With your collaboration, we are now witnessing the establishment of the largest rare earth and critical metals plant in Africa, right here in Nigeria," Alake stated. "Your patriotic zeal confirms that our policies are on the right track and producing tangible results."
Expanding Production Capacity
Hasetins currently operates a 6,000-metric-tonne facility, but the forthcoming plant will add an additional 12,000 metric tonnes to its installed capacity. The company is preparing for a formal groundbreaking ceremony for the new facility, which will process essential metals crucial to high-tech industries and defence applications, including rare earth elements and platinum group metals.
Prince Jidayi Ijudigal, Managing Director and CEO of Hasetins, attributed the company's decision to expand its investment in Nigeria to recent policy reforms, particularly the deployment of mining marshals to curb illegal mining and the streamlining of licensing procedures.
"Beyond this flagship plant, we are also establishing regional separation facilities and empowering artisanal miners," Ijudigal explained. He added that their model includes early-stage metal separation to generate income for local miners, along with training and equipment provision.
Strategic Economic Diversification
Peter Butt, Hasetins' Director of Corporate Affairs, commended the minister's leadership and vision for restructuring the sector, noting that their investment reflects confidence in Nigeria's commitment to sustainable, inclusive growth.
The ministry reaffirmed its full institutional support for the project, emphasizing that solid minerals remain a central pillar in the administration's strategy to diversify the economy and foster industrialization.
"This project is a cornerstone of our broader strategy to make the solid minerals sector a major contributor to Nigeria's GDP," Alake added.
The rare earth processing plant represents a significant step in Nigeria's efforts to move up the value chain in mineral exploitation, reducing dependence on crude oil exports while creating sustainable employment opportunities in the mining sector.
Stay updated with the latest business and economic news by following BenriNews on our social media platforms:
