Edo State Governor, Mr. Godwin Obaseki, is leading efforts to diversify the state’s economy by tapping into its solid minerals reserves, particularly lithium, as a new source of foreign exchange (FX) earnings. Lithium, often referred to as “white gold,” is abundant in various Nigerian states, including Nasarawa, Kogi, Kwara, Ekiti, Cross River, and Edo.
During a meeting with international investors representing Renera Rosatom Energy Corporation, hosted by the Edo State Ministry of Mining and Energy (Oil, Gas, and Power), plans to exploit the state’s lithium deposits were discussed.
Mr. Omoruyi Ihianle, Director of Mining in Edo State, outlined the state government’s initiatives to utilize lithium for producing lithium batteries used in Electric Vehicles (EVs). He highlighted the establishment of a Special Purpose Vehicle (SPV), called SPV Associates Mining and Investment Company Limited, by the state government to facilitate the mining sector’s growth and ensure mutual benefits for the government and investors.
The objectives of the Edo State Mining and Investment Company Ltd. (ESMIC) include providing support to mining companies operating in the state, offering services along the mineral market value chain, and creating environmentally friendly business practices. The commission aims to foster collaboration among investors, mining companies, and miners while generating employment opportunities for local communities.
Hon. Ojiefoh Enaholo, Commissioner for Mining and Energy in Edo State, affirmed the state government’s commitment to positioning Edo as a key player in the mining sector, facilitating partnerships, and driving economic growth.
The Vice President of Uranium One, Mr. Andrey Mineev, representing the international investors, expressed readiness to collaborate with Edo State, signaling potential partnerships to harness the state’s mineral resources.
The move signifies Governor Obaseki’s proactive approach to leverage the state’s natural resources for sustainable economic development, potentially transforming Edo into a significant player in the global mining industry.
