Nigeria is set to host Africa’s largest rare earth minerals plant, thanks to a $400 million Foreign Direct Investment (FDI) plan by Hasetins Commodities Ltd. The facility is projected to create over 10,000 jobs and marks a major step in President Bola Tinubu’s push for in-country mineral processing. Solid Minerals Minister Dele Alake praised the project as a game-changer, aligning with efforts to boost investor confidence and drive economic diversification. Through the project, Hasetins plans to triple its current capacity of 6,000 metric tons, while also empowering local miners via skills training and early-stage beneficiation. Backed by the federal government, this initiative signals Nigeria’s rising role in global tech supply chains and reaffirms the mining sector’s central role in job creation.
BusinessDay
