FG Advocates Local Processing of Minerals in Africa

At the 5th African Natural Resource and Energy Investment Summit held in Abuja, Minister of Solid Minerals Development, Dele Alak, urged African countries to cease the export of raw mineral resources and instead focus on local processing to drive economic growth and job creation. Alak emphasized the need for a fundamental shift in Africa's mineral development strategy, advocating for policies that retain value within the continent.

He discussed the importance of advancing Africa's solid mineral sector through efficient exploration and responsible extraction, which would benefit local populations. Kevin Urama, Vice President and Chief Economist of the African Development Bank, echoed this call for a new resource development model, stressing the need for African governments to ensure that mineral processing occurs within the continent rather than exporting raw materials.

The summit concluded with Alak being appointed as the chairman of the African Mineral Strategy Group, reflecting confidence in his leadership to promote responsible mining practices that yield greater economic benefits.