The Minister of Solid Minerals Development, Dr. Dele Alake, has pledged the federal government’s full support for a $400 million Foreign Direct Investment (FDI) project aimed at establishing Africa’s largest rare earth and critical minerals processing plant in Nasarawa State.
According to a statement by his Special Assistant on Media, Segun Tomori, on Sunday in Abuja, Dr. Alake lauded Hasetins Commodities Limited, the funders of the project, for aligning with President Bola Tinubu’s agenda of value addition and in-country mineral processing.
He described the initiative as a major step towards tackling unemployment and enhancing industrial capacity in the mining sector.
The project is expected to create over 10,000 jobs across the country and significantly boost local mineral beneficiation.
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Hasetins plans to expand its installed capacity from 6,000 metric tonnes to 18,000 metric tonnes, with preparations underway for the groundbreaking of the new facility.
Speaking during a courtesy visit by the company’s Managing Director/CEO, Prince Jidayi, and his team, Alake praised Hasetins’ strategic foresight and patriotic investment.
He noted that the plant would not only promote skills transfer but also strengthen investor confidence and the economic contributions of the solid minerals sector.
The minister reaffirmed the government’s commitment to supporting investors committed to adding value locally and advancing Nigeria’s economic diversification goals.
“I’m glad our ongoing engagements have culminated in this groundbreaking initiative. With your collaboration, we are now witnessing the establishment of the largest rare earth and critical metals plant in Africa, right here in Nigeria. On behalf of the President, the Ministry, and the Nigerian people, I commend your commitment to this vital sector. Your patriotic zeal confirms that our policies are on the right track and producing tangible results,” Dr. Alake added.
The Minister reaffirmed the federal government’s full institutional support for the project, underscoring its alignment with the Ministry’s vision of transforming Nigeria’s solid minerals into a cornerstone of industrial growth and economic diversification.
In his remarks, Prince Jidayi expressed deep appreciation for the Minister’s leadership and reforms, which he said have significantly improved investor confidence and streamlined access to the mining sector.
“We have observed the introduction of mining marshals to combat illegal mining and reforms that have simplified the licensing process. These efforts have directly influenced our decision to invest heavily in this project. Beyond this flagship plant, we are also establishing regional separation plants and empowering local communities and miners,” he said.
Jidayi noted that the company’s model ensures early-stage beneficiation by pre-separating metals locally, generating immediate income for artisanal miners.
The initiative also includes training, provision of protective equipment, and broader community engagement.
Also speaking, Hasetins’ Director of Corporate Affairs, Peter Butt, commended the Minister for bringing renewed purpose and structure to the mining sector.
He emphasised that the Minister’s strong emphasis on local value addition reinforced the company’s decision to invest in sustainable, community-driven development.