Nigeria and South Korea have signed a Memorandum of Understanding on investments in the solid minerals sector.
This was made known in a statement made available to journalists by the Deputy Director (Information) of the Ministry of Solid Minerals Development, Mr. Alaba Balogun.
Mr. Balogun said the talks between Nigerian public and private sector officials and the South Korean government were held under the auspices of the Seventh Korea-Africa Economic Co-operation Conference in Busan, South Korea.
He further said that the talks resolved to review a 2006 Memorandum of Understanding to include training of Nigerian mining professionals in Geochemistry, Geophysics, Ore Modelling, Mineral Processing, research, and exploration of critical minerals such as lithium, nickel, cobalt, manganese, and graphite.
According to the statement the Nigerian team comprised officials of the Ministry of Solid Minerals Development and Oando Mining Company, while the Korean Institute of Geosciences and Mineral Resources, KIGAM, and Korean Mines Rehabilitation and Mineral Resources Corporation, KOMIR, represented South Korea.
Mr. Balogun also said the Director-General of the Nigerian Geological Survey Agency, Dr.Abdulrazaq Garba represented the Solid Minerals Minister, Dr.Oladele Alake, at the talks.
While, KIGAM President, Dr. Pyeong Koo-lee, offered to collaborate with Nigeria to explore the large deposits of lithium-bearing pegmatite.
Dr. Koo-lee also said that KIGAM has the best technology in lithium ore processing, adding that the beneficiation process can reduce the carbon to improve the grade of the ore.
Vice President of the State-owned KOMIR, Dr.Alex Kwon, expressed interest in overseas mining investment, adding that KOMIR provides technical and financial assistance and investment in the exploration and mining of solid minerals.
Dr. Kwon disclosed that KOMIR partner’s private sector to invest in the global mining industry.