Olufemi Adeyemi
South Korean government has indicated interest in Nigeria’s lithium deposits, according to a statement on Thursday.
The Nigerian government and South Korean government have resumed talks on revising a Memorandum of Understanding (MoU) on investments in the solid minerals sector.
The statement signed by the Deputy Director (Information) of
Nigeria’s Ministry of Solid Minerals Development, Alaba Balogun, disclosed that
the Nigerian government had engaged the South Korean government at the Seventh
Korea-Africa Economic Co-operation conference in Busan, South Korea.
According to the statement, the engagement focused on
revising a 2006 Memorandum of Understanding between Nigeria and South Korea on
investments in the solid minerals sector.
The statement noted that the Nigerian team comprised
officials of the Ministry of Solid Minerals Development and Oando Mining
Company, while the Korean Institute of Geosciences and Mineral Resources and
Korean Mines Rehabilitation and Mineral Resources Corporation represented South
Korea.
The Director-General of the Nigerian Geological Survey
Agency, Dr Abdulrazaq Garba, represented the Solid Minerals Minister, Dr Dele
Alake
It stated that the proposed revision to the 2006 MoU
“include training of Nigerian mining professionals in Geochemistry, Geophysics,
Ore Modelling, Mineral Processing, research, and exploration of critical
minerals such as lithium, nickel, cobalt, manganese, and graphite.”
The statement added, “KIGAM president, Dr. Pyeong Koo-lee,
offered to collaborate with Nigeria to explore the large deposits of
lithium-bearing pegmatites.
“He said KIGAM has the best technology in lithium ore
processing, adding that the beneficiation process can reduce the carbon to
improve the grade of the ore.
“Vice President of the state-owned KOMIR, Dr Alex Kwon,
expressed interest in overseas mining investment, adding that KOMIR provides
technical and financial assistance and investment in the exploration and mining
of solid minerals.”
The Federal Government, through the Ministry of Solid
Minerals, had made efforts to attract investors to explore lithium deposits in
the country.
In 2022, the Director-General, Nigerian Geological Survey
Agency, Dr Abdulrazaq Garba, told journalists that high-grade lithium
discovered in Nigeria had been attracting foreign investors.