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Geological Society Plans Unlocking $1tr Investment Potential In Mining Sector, Hosts Confab

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Discussing the role of the GSN Mining Investment Roundtable in advocating for professionalism in mineral exportation in Nigeria, the president hinted that

“geology plays a very significant role in mining,” stating that geological exploration is required in mining, a task he said only geologists have been trained to execute.

Countries with developed mining regimes such as Canada, Australia and South Africa are expected at the conference in order to share their experiences, he added. “Clearly, reliable geoscience data is primarily what a serious investor would be looking out for in engaging with the Nigerian mining industry and the NIMEP Project is a good start, but to be honest, there is need for a more intentional commitment from the government to promoting data sourcing like they do in oil and gas.

Malami agreed with a World Bank report that the mining sector in Nigeria has investment potential of between $700bn and $1trn and explained that the NIMEP Project was a tip of an ice berg considering the enormous geological data needed by investors for such critical minerals.

 

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