FG to collaborate with Korea in improving mining sector

The Federal Government of Nigeria plans to collaborate with the Republic of Korea to improve the mining sector and expand the economy.

This was made known, on Wednesday, in a statement titled, ‘Mining: FG urges strategic collaboration with Korea’ from the Ministry of Mines and Steel Development.

The statement read, “In continuing effort to diversify, revive and grow the economy for sustainable development and job creation through the mining sector, the Federal Government is geared towards establishing strategic collaboration with the Republic of Korea.”

Hosting Korean Ambassador, Kim Young-Chae; the Minister of Mines and Steel Development, Olamilekan Adegbite, disclosed that the collaboration had vast opportunities that abound for both nations to work together on.

In accordance with the minister, the mining industry in Nigeria would be highly beneficial to the Korean technological market.

The Minister of State for Mines and Steel Development, Dr Uchechukwu Ogah, also said that Korea could source raw materials from Nigeria for its manufacturing and technological industries.

The Korean ambassador, who disclosed that about 23 Korean firms operated in Nigeria, said that accomplishing policy sustainability and guaranteeing the ease of doing business would boost more investors into the nation.

The Ministry of Mines and Steel Development was established in 1985. Its function is to encourage development of solid mineral resources in the country.

The Ministry formulates policy, provides information on mining potential and production, regulates operations and generates revenue for the government.