Nigeria To Engage German Firm In Search For $700bn Mineral Deposits Nationwide
Nigeria’s Federal Executive Council (FEC) on Monday approved the engagement of a German firm, GeoScan GmbH, for the search and location of the estimated $700 billion solid minerals deposit in the country.
Briefing newmen after the weekly Council meeting presided over by President Bola Tinubu at the State House, Abuja,
Minister of Solid Minerals, Dele Alake, said the Memorandum of Understanding (MoU) wiith the German firm was signed on Sunday when the German Chancellor, Olaf Scholz, paid a business visit on the President.
The Minister said GeoScan GmBH possesses cutting-edge technology capable of exploring mineral deposits up to 10,000 meters below the surface, which is a remarkable advancement in the field of mineral exploration.
Given Nigeria’s vast and unexplored mineral landscape, estimated to be worth around $700 billion, the Minister noted that MoU with GeoScan GmbH presents a significant opportunity for the country.
Nigeria To Engage German Firm In Search For $700bn Mineral Deposits Nationwide
Nigeria’s Federal Executive Council (FEC) on Monday approved the engagement of a German firm, GeoScan GmbH, for the search and location of the estimated $700 billion solid minerals deposit in the country.
Briefing newmen after the weekly Council meeting presided over by President Bola Tinubu at the State House, Abuja,
Minister of Solid Minerals, Dele Alake, said the Memorandum of Understanding (MoU) wiith the German firm was signed on Sunday when the German Chancellor, Olaf Scholz, paid a business visit on the President.
The Minister said GeoScan GmBH possesses cutting-edge technology capable of exploring mineral deposits up to 10,000 meters below the surface, which is a remarkable advancement in the field of mineral exploration.
Given Nigeria’s vast and unexplored mineral landscape, estimated to be worth around $700 billion, the Minister noted that MoU with GeoScan GmbH presents a significant opportunity for the country.
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