THE Federal Government, alongside its South Africa counterpart, on Tuesday, endorsed a two-year action plan for the implementation of the 2013 Memorandum of Understanding (MoU) on cooperation in the fields of geology, mining, as well as mineral processing and metallurgy.
The two countries also jointly agreed to host a mining investment promotion conference in Nigeria, during the second half of 2017.
Minister of Mines and Steel Development, Dr Kayode Fayemi and South African Minister of Mineral Resources, Mr Mosebenzi Zwane, who jointly addressed newsmen at the ministry in Abuja, said the implementation plan was intended to advance reciprocal benefit to both the nations from development of their respective mining value chains.
Reading the communiqué after the endorsement, Dr Fayemi explained that the meeting between Presidents Muhammadu Buhari and Jacob Zuma, during the State Visit in March, 2016 prioritised agriculture, energy and mining for the economic development of the two countries.
Dr Fayemi stressed that the two countries are committed to the implementation of MoU, which had not been ratified until then, pointing out that, as a follow-up, he led a technical team of the ministry to South Africa in June 1 and 2, 2016 to rekindle the implementation of the work plan under the existing MoU, while a similar visit of South Africa technical team was reciprocated between June 13 and 17, 2016.