Steron Partners to Enhance Lithium Processing in Nigeria

On Thursday, Steron International Resources Limited signed a memorandum of understanding at the African Natural Resources and Energy Investment Summit in Abuja to accelerate the development of lithium and rare earth element deposits in Nigeria. The agreement signifies a major milestone for Nigeria's mining sector, particularly as global demand for critical minerals rises due to their importance in electric vehicles and renewable energy technologies.

Sadiq Omar, Managing Director and Chief Executive Officer of Steron, stated that the partnership aims to ensure that 51% of the economic value generated from mining projects remains within Africa. The initiative focuses on local processing and developing the necessary expertise to convert raw materials into finished products within Nigeria.

Steron has identified three significant rare earth element deposits in Nigeria's middle belt and intends to invest substantially in their development, emphasizing the need for Africa to capture economic benefits from its natural resources.