Ganfeng’s $15 Million Lithium Mining Deal in Nasarawa

Ganfeng Mining Company (GNFG) will pay the Nasarawa State Government $15 million for the lithium mining site in Endo Community. This arrangement, part of a recent agreement, includes a payment plan of $1.5 million annually for ten years, alongside other benefits.

Community Development Support

Endo Community in Nasarawa will receive $500,000 for local development projects. This support is part of ensuring communities near mining sites benefit directly from such ventures.

Agreement and Plans

The deal follows a Memorandum of Understanding between the Nasarawa State Government, represented by Nasarawa Mining Company Limited, and Ganfeng Mining Company. The agreement involves 1.5 Cadastre Units allotted by the Federal Ministry of Solid Minerals Development.

Upcoming Lithium Processing Plant

is set to begin constructing a state-of-the-art lithium processing plant in Endo Community by November. The project aims for completion by December 2025, promising to create numerous local jobs and stimulate economic growth.

State Government Initiatives

Governor Abdullahi Sule is advocating for a bill to allocate a percentage of mining revenues to community development. This initiative aims to ensure that areas hosting mining activities see tangible benefits.

Governor Sule also acknowledged President Bola Tinubu’s efforts in transforming the mining sector, which positively impacts both Nasarawa and Nigeria’s broader development.

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