Minister of Mines and Steel Development, Mohammed Sada, has expressed optimism that there would be a complete turn around for the minerals and metals sector next year.
Speaking at a stakeholders' workshop organised by the National Steel Raw Materials Development Agency in Abuja, he said that "I have the strong belief that 2013 will be the year of complete turnaround for the minerals and metals sector."
He hinged this view on the positive indicators already recorded as well as the plan to have NSRMEA, in association with internationally accredited firms, filling the geosciences data-generating gap that has hitherto prevented the production of acceptable feasibility study reports by exploration licence holders.
According to Sada, this was "an essential requirement for accessing mineral project funding schemes."
The minister stated that the agency would play a leading role in attaining the Vision 20:2020 and Transformation Agenda target for his ministry to revitalise the entire steel sector for the operation and production of three million tonnes of liquid steel per annum by 2015.
He said the agency's 40 years' experience and equipment had made it possible to carry out activities that would bridge the exploration gap that had so far prevented most exploration licences from transforming into mining leases and producing mines. He added that "We have private investors from foreign countries that are engaged in mineral exploration activities, which is very encouraging. The investors are attracted here because our geology is very rich. Any investor who perseveres in the activities of the sector will get very good returns."
Director-General of NSRMEA, Mr Alex Ohikere, said it was their wish that the steel plants that were currently using only scraps would in a short while begin to use Nigeria's iron ores.
