Nigeria, U.S. Sign Mining Framework Targeting $700bn in Untapped Minerals

Nigeria and the United States have signed a framework agreement to encourage greater American investment in Nigeria’s mining sector. The agreement was signed in New York during the 81st United Nations General Assembly by Solid Minerals Development Minister Dele Alake and U.S. Deputy Secretary of State Christopher Landau. The framework focuses on Nigeria’s estimated $700 billion in untapped mineral resources, including lithium, gold, tin, iron ore and phosphate. The Federal Government says it aims to move the country away from exporting raw minerals and towards processing them locally.

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