In a groundbreaking move poised to reshape Africa’s mineral landscape, the Nigerian Government has endorsed a $400 million Foreign Direct Investment (FDI) agreement for the establishment of the continent’s largest rare earth and critical minerals processing facility in Nasarawa State.
The ambitious project, led by Hasetins Commodities Limited, is expected to create over 10,000 jobs across Nigeria while advancing the country’s economic diversification through local value addition in the solid minerals sector.
Strategic Investment for National Growth
The initiative aligns with President Bola Tinubu’s value addition agenda, which prioritizes in-country mineral processing as a pathway to job creation and industrial expansion. Minister of Solid Minerals Development, Dr. Dele Alake, lauded the investment as a clear testament to Nigeria’s growing appeal as a destination for responsible mining and manufacturing.
“We are now witnessing the establishment of the largest rare earth and critical metals plant in Africa, right here in Nigeria,” Dr. Alake said. “This project validates our reforms and shows that our policies are yielding tangible results.”
Doubling Capacity, Empowering Communities
Hasetins Commodities, which currently operates a 6,000-metric-tonne capacity plant, plans to double its output to 12,000 metric tonnes with the upcoming expansion. In addition, the company will roll out regional separation centers across the country to decentralize processing activities and enhance the productivity of artisanal mining communities.
Sector Reforms Boost Investor Confidence
Managing Director Prince Jidayi Ijudigal commended the Nigerian government for its ongoing sector reforms—particularly the introduction of mining marshals to ensure security and the overhaul of licensing procedures—which he said have significantly improved investor confidence.
Hasetins’ Director of Corporate Affairs, Peter Butt, also praised the Ministry’s emphasis on in-country beneficiation, noting that it aligns perfectly with the company’s sustainability-driven growth model.
“This is not just about mining,” Butt said. “It’s about transforming how Africa participates in the global value chain.”
Strategic Minerals for the Future
Hasetins specializes in the extraction and processing of critical metals used in high-technology and defense industries, including rare earth elements and Platinum Group Metals (PGMs). These minerals are essential components in electronics, renewable energy technologies, and advanced manufacturing.
By processing these resources domestically, Nigeria is set to capture more value, reduce export of raw materials, and build a foundation for industrial self-reliance.
Government Backing and Institutional Support
Reaffirming official support, Dr. Alake declared that the Ministry of Solid Minerals Development would provide full institutional backing for the project, describing it as a cornerstone in Nigeria’s industrial and economic transformation.
This historic investment represents not only a leap forward for the mining sector, but a strategic opportunity for Nigeria to emerge as a global hub for high-value mineral processing—one that supports jobs, sustainability, and regional economic leadership.
