Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesStocksEarnInstitutionAI & More
Nigeria identifies major new critical minerals district, large lithium discovery

Nigeria identifies major new critical minerals district, large lithium discovery

Mining.comMining.com2026/06/28 16:56
By:Mining.com

Nigeria has revealed what officials describe as its most significant critical minerals discoveries in years as Africa’s largest oil producer seeks to diversify its economy and establish itself as a key supplier for the global energy transition.

var rnd = window.rnd || Math.floor(Math.random() * 10e6); var pid472436 = window.pid472436 || rnd; var plc472436 = window.plc472436 || 0; var abkw = window.abkw || ''; var absrc = 'https://servedbyadbutler.com/adserve/;ID=181210;size=0x0;setID=472436;type=js;sw=' + screen.width + ';sh=' + screen.height + ';spr=' + window.devicePixelRatio + ';kw=' + abkw + ';pid=' + pid472436+ ';place=' + (plc472436++) + ';rnd=' + rnd + ';click=CLICK_MACRO_PLACEHOLDER'; document.write('
');

At the African Natural Resources and Energy Investment Summit in Abuja last week, the country said it has identified a new polymetallic mineral province in Kaduna state that contains high-grade deposits of platinum group metals, gold, nickel, copper, lithium, and rare earth elements.

Speaking at the summit, Nigeria’s Minister of Solid Minerals Development, Dele Alake, said the Kaduna represents a “world-class” mineral province and one of the most significant developments in the country’s mining sector in recent years.

The discovery was made by private company Steron Mining in collaboration with the Nigerian Geological Survey Agency (NGSA), which later verified the find.

“Nigeria is positioning itself among emerging destinations for strategic mineral resources and sustainable mining investment,” Alake told reporters at the summit, highlighting the growing importance of critical minerals in clean energy supply chains.

The announcement coincided with the disclosure by Steron Mining that exploration work at its Abuja-area operation had identified approximately 3.3 million tonnes of lithium reserves. Company geologists said the broader project hosts an estimated 94.8 million tonnes of mineral resources, including lithium-bearing ore and granitic rock.

The discoveries come as governments and manufacturers worldwide scramble to secure supplies of lithium and other battery metals needed for electric vehicles, energy storage systems and renewable energy infrastructure.

Nigeria’s lithium potential has attracted growing international interest. Chinese companies, including Jiuling Lithium and Canmax Technologies, have committed more than $1.3 billion toward processing facilities in the country, including Kaduna state, while foreign investors continue to acquire exploration and mining licences across several states.

The government has increasingly emphasized domestic beneficiation, seeking to move beyond the export of raw ore and build local processing capacity. During the recent summit, Steron said it already processes lithium ore locally before export in line with federal policies aimed at increasing value addition within Nigeria.

Industry observers caution that significant hurdles remain before the discoveries can be translated into large-scale production. Infrastructure constraints, power shortages, artisanal mining activity and regulatory challenges continue to weigh on the development of Nigeria’s mining industry.

0
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

Understand the market, then trade.
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.
Trade now!

You may also like

The Stock Market Dynamic Has Shifted, Just Look at Intel and Nvidia -- Barrons.com

By Callum Keown Good morning and welcome to a new week with a fresh cocktail of market hopes and fears. Stocks are set to open lower after Friday's post-jobs report rally with oil prices and bond yields staying stubbornly high. But with traders now pricing in an interest rate hold in October, the dynamic has shifted ahead of the Federal Reserve minutes later in the week. There's a bit more hope for the software sector after Schneider Electric agreed to buy PTC at a 42% premium to its last closing price. The mood in Europe is definitely more fearful, though. The euro hit a 17-month low as French debt concerns mounted and Spain called a snap election. On the flip side, the U.S. dollar index hit an almost 18-month high. A handful of kingmakers are still in charge of the artificial-intelligence trade. Chip maker Cerebras was rebounding to start the week as OpenAI's Sam Altman delivered some good news, while Intel slipped as Elon Musk was the bearer of bad news. AI stocks remain in a strong position. It could even be the day Nvidia sets a new record closing high-it has risen 20% in just three months. Now that's something to make everyone hopeful. You can subscribe to the Barron's Daily newsletter here. 📈 Here's what's happening in markets today: Stocks are set to open lower as the jobs rally fades. Qualcomm, Intel, Strategy, and more stocks that explain today's market. Nvidia set for stock record as key supplier celebrates booming AI demand. Cerebras stock is rebounding. Thank OpenAI's Sam Altman. PTC stock soars on $22.6 billion Schneider Electric deal. Why it's a win for software. Intel takes a hit as Elon Musk signals setback for the chip maker. SpaceX is now a super intelligence company. Say hello to SpaceXSI. RXO stock soars. C.H. Robinson is buying it for implied value of $5.8 billion. Micron stock falls amid fears of memory-price peak. The data tell a different story. 6 stocks and an ETF that are surging after Brazil election shock. 🎙? Be sure to tune in to today's Barron's Live Join Barron's Se

Dow Jones•2026/10/05 14:04