Nigeria Launches $400m Rare Earth Processing Plant
Nigeria has launched a $400 million rare earth processing plant aimed at strengthening the country’s position in the global minerals market.
The project is expected to drive industrial growth and increase value addition within the mining sector.
The facility is designed to process rare earth minerals locally rather than exporting them in raw form.
Government officials believe the development will create jobs, attract investment and support economic diversification efforts.
With the new plant, Nigeria’s rare earth processing capacity is expected to reach 18,000 tonnes annually.
The increase is expected to improve the country’s ability to meet growing global demand for minerals used in technology, renewable energy and advanced manufacturing.
The project forms part of broader efforts to expand Nigeria’s solid minerals industry and reduce reliance on crude oil revenue.
Authorities say the plant will also help position the country as a key player in the international supply chain for critical minerals.
