The Governor of Edo State, Godwin Obaseki, is looking to diversify the state’s economy with the exploitation of its solid minerals deposit, especially lithium as a new foreign exchange earner.
According to a statement, the disclosure was made when the Edo State Ministry of Mining and Energy hosted international investors representing Renera Rosatom Energy Corporation.
In a presentation at the conference meeting, the Director of Mining in Edo State, Omoruyi Ihianle, highlighted efforts by the Obaseki-led administration towards exploiting its lithium deposit for the production of lithium batteries used in Electric Vehicles.
Omoruyi said, “The state government, after looking at the sector, thought it wise to come forward with what we call the SPV (Special Purpose Vehicle), and with this SPV, the state government aims to ensure that the mining sector gives value to the government and the investors.
“We have the registration number of the SPV Associates Mining and Investment Company Limited. It was incorporated last year and it has already started running.
“Now the mandate as regards the Ministry of Mining and Energy and the SPV is to ensure that the state is positioned in a way to assist miners and also to be a major player in the mining industry.”
While outlining the objectives of the Edo State Mining and Investment Company Ltd, Omoruyi noted that the commission aimed to provide support for mining companies operating in the state, providing services along the mineral market value chain in line with international best practices.
He further guaranteed that the commission was poised to ensure a smooth synergy among investors, companies, and miners while creating jobs for indigenes of the communities in the state.
On his part, the Edo State Commissioner for Mining and Energy, Ojiefoh Enaholo, expressed the readiness of the state government to position itself as a major player in the mining sector.
Speaking on behalf of the international investors, the Vice President of Uranium One, Andrey Mineev, expressed his gratitude for the warm reception, reiterating the group’s readiness to embark on the partnership with the Edo State Government.
Lithium, which is also known as white gold, is a mineral found in large deposits in some states in Nigeria such as Nasarawa, Kogi, Kwara, Ekiti, Cross River and Edo.
