Abuja: The Minister of Solid Minerals Development, Dr. Dele Alake, has announced the Federal Government’s support for the construction of a plant in Nasarawa State. The plant is projected to generate more than 10,000 jobs nationwide, with a forecast of $400 million in Foreign Direct Investment (FDI).
According to News Agency of Nigeria, the project is set to become Africa’s largest rare earth and critical minerals plant and will be funded by Hasetins Commodities Limited. Dr. Alake, through his Special Assistant on Media, Segun Tomori, emphasized that this initiative aligns with President Bola Tinubu’s administration’s campaign for in-country processing and beneficiation of minerals.
The minister highlighted that the project is a testament to the potential of mineral processing as a strategy for job creation. Hasetins aims to increase its current capacity by adding 12,000 metric tonnes to its existing 6,000 metric tonnes as preparations for the groundbreaking of the new facility continue.
Dr. Alake praised the company for its strategic foresight and investment in the $400 million rare earth metals plant, underscoring it as a significant milestone in boosting investor confidence in the mining sector. The project is expected to promote skills transfer and enhance the solid minerals sector’s contribution to the economy.
The News Agency of Nigeria reports that Hasetins’ management stated that the company’s approach involves early-stage beneficiation for the plant. This includes pre-separating metals locally, generating immediate income for artisanal miners, and engaging in training, provision of protective equipment, and broader community engagement. Hasetins Commodities Ltd is known for producing critical metals essential for high-tech applications and defense systems, including rare earth metals and Platinum Group Metals (PGMs).
