Nigeria, US agree to increase mining investment
On the sidelines of the UN General Assembly, Nigeria and the US inked a new mining deal. Nigeria is home to deposits of lithium, gold, tin, gemstones, iron ore and phosphate.
The United States and Nigeria have reached an agreement to increase American investment in Nigeria's mining sector, according to the country's minerals ministry. This follows President Donald Trump's recent focus on investment deals, particularly in Africa, as he has reduced foreign aid. The framework for the investment agreement was signed in New York on Wednesday, during the UN General Assembly, by Dele Alake, Nigeria's minister for solid minerals, and Christopher Landau, the US deputy secretary of state.
The deal aims to bolster American investment in Nigeria's $700 billion mineral resources, moving beyond raw material exports to include refined end-products, local processing, quality jobs, and skill development. Nigeria, Africa's most populous nation, is rich in various minerals, including lithium, gold, tin, gemstones, iron ore, and phosphate.
The move is expected to leverage the strong relationship between Washington and Abuja, despite past tensions over Nigeria's Muslim-majority north, which Trump described as a "genocide" against Christians.
Written by urgent.news from AllAfrica's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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