Minister for Mining and Solid Minerals, Kayode Fayemi, and Mosebenzi Zwane, South African Mineral Resources Minister, on Tuesday endorsed a two-year action plan for the implementation of a Memorandum of Understanding (MoU) on cooperation in the fields of geology, mining and mineral processing.
The two Ministers approved a plan to be implemented from January 2017, which would be focusing on areas such as advancing geo-scientific knowledge generation, contribution to energy security, contribution to agriculture and food security, the regulatory framework, mineral processing and value addition, as well as institutional capacity.
Moreover, this follows a commitment made by the South African Ministers during the state visit to Nigeria earlier this year, where President Jacob Zuma of South Africa and President Muhammad Buhari of Nigeria prioritised agriculture, energy and mining for the economic development of the two countries.
The Ministers adopted to implement the MoU, which had been signed in 2013, but had not been ratified until the time of this meeting.
Zwane said; “With the implementation of this action plan, we will be able to better advance and ensure benefit to both countries from the development of our respective mining value chains, in line with our respective national priority programmes, which include diversification of the economy, job creation, energy security and industrialisation.”
The MoU outlined about to 10 areas of co-operation which include geology, regulatory framework and licensing, mineral processing, metallurgy, artisanal and small-scale mining, investment promotion, and capacity building.
However, they agreed to jointly host a mining investment promotion conference in Nigeria during the second half of 2017.