South Korea express interest in Nigeria’s lithium
The government of South Korea has expressed interest Nigeria’s lithium. Deputy Director (Information) of Nigeria’s Ministry of Solid Minerals Development, Alaba Balogun, confirmed the report and said the two nations are in discussions over revision of a 2006 Memorandum of Understanding (MoU) related to investments in the solid minerals sector.
Lithium mining is a growing industry in Nigeria, and the government has recently issued permits to allow companies to begin mining operations. The Nigerian government has identified lithium as a strategic mineral and is keen to develop the industry in order to benefit from its potential economic benefits.
2006 MoU
The proposed revision to the 2006 MoU includes plans for training Nigerian mining professionals in various fields such as Geochemistry, Geophysics, Ore Modelling, Mineral Processing, research, and exploration of critical minerals like lithium, nickel, cobalt, manganese, and graphite.
Dr. Pyeong Koo-lee, the President of the Korean Institute of Geosciences and Mineral Resources (KIGAM), offered to collaborate with Nigeria to explore the significant deposits of lithium-bearing pegmatites. KIGAM is known for its advanced technology in lithium ore processing and beneficiation, which can reduce carbon content and improve ore grades.
Dr. Alex Kwon, Vice President of the state-owned Korean Mines Rehabilitation and Mineral Resources Corporation (KOMIR), expressed interest in overseas mining investment and offered technical and financial assistance for the exploration and mining of solid minerals.
Nigeria’s Ministry of Solid Minerals Development has been actively trying to attract investors to explore lithium deposits in the country, with high-grade lithium discoveries in Nigeria attracting foreign investors in recent years. Such collaborations can lead to advancements in mineral exploration and processing technologies and boost economic growth in both countries.
