Firm to Invest $30m in Nigeria’s Mining Sector

mining sector
  • Firm to Invest $30m in Nigeria’s Mining Sector

Hudson Mining Limited, a subsidiary of Globelink China Investment Group, has announced its readiness to begin operation in the mining and trading of columbite, tin and zinc in Jos, Plateau State.

Making the announcement in Abuja, the Chairman and Chief Executive Officer, Hudson Mining, Solomon Cai, said Globelink China Investment Group would invest an initial sum of $3m in Hudson Mining and subsequently increase its investment to $30m in the next first phase of the project.

He said the mining company was ready to partner local miners, build strategic relationships and help indigenous operators improve on their mining and processing skills.

He said, “In Nigeria mining sector, there are many local miners with low skills and efficiency. They need the skills, equipment, and technical know-how to put out more productivity in a close alliance, as we are not here just to buy but to partner and develop their skills for efficiency.”

Cai said the company was committed to Nigeria through developing mineral exploitation, processing, mining machinery and equipment manufacturing into Nigeria’s core economic pillar.

He stated that Hudson was aiming to make its contributions towards upgrading the Nigerian mining industry with more experienced and trained personnel, more advanced equipment and machinery, and more connections between local players and stakeholders in China.

“Relying on the advantage of its parent company, Hudson Mining will bring into the Nigerian market, technology, equipment and capital,” Cai added.

He further noted that the firm would strive to establish a development community together with Nigeria’s mineral industry partners to upgrade extensive mining production model to bring value to Nigeria and the countries that use mineral products.

The Deputy Director, Compliance and Ethics, Nigeran Investment Promotion Commission, Ahmad Isah Ghondi, described the development as a build up to employment generation for the country.

“Also, this will contribute favourably to the Gross Domestic Product and economy of Nigeria when the company finally starts its full operation,” he stated.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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