$400m Rare Earth Minerals Project to be Established in Nigeria

*Largest in Africa, potentially creating over 10,000 jobs nationwide

*Alake: Project represents significant milestone in efforts to spur investor confidence in the mining sector

The Federal Government has pledged full support to a $400 million Foreign Direct Investment (FDI) plan to build Africa’s largest rare earth and critical minerals plant in Nasarawa State, potentially creating over 10,000 jobs nationwide.

A statement on Sunday said the Minister of Solid Minerals Development, Dr. Dele Alake, commended the project funders, Hasetins Commodities Limited, for keying into the value addition campaign of President Bola Tinubu’s administration and confirming that mineral processing is the strategy to take the jobless from the streets.

Hasetins Commodities Ltd specialises in producing critical metals essential for high-tech applications and defence systems, including rare earth metals and Platinum Group Metals (PGMs). Its hopes to add 12,000 metric tonnes to its current 6,000 metric tonnes installed capacity as preparations for the forthcoming groundbreaking of the additional facility gathers momentum.

The statement signed by the Special Assistant on Media to the Minister, Segun Tomori, said Alake applauded the company for its strategic foresight and patriotic investment in a $400 million rare earth metals plant, commending Hasetins for aligning its operations with the federal government’s drive for in-country processing and beneficiation of minerals.

Noting that it represents a significant milestone in efforts to spur investor confidence in the mining sector, Alake said the establishment of the plant would promote skills transfer and boost the contributions of the solid minerals sector to the economy.

Speaking during a courtesy visit by the Managing Director/CEO of Hasetins Commodities Ltd, Prince Jidayi Ijudigal, and his team, Alake said, “I’m glad our ongoing engagements have culminated in this groundbreaking initiative. With your collaboration, we are now witnessing the establishment of the largest rare earth and critical metals plant in Africa, right here in Nigeria. On behalf of the President, the Ministry, and the Nigerian people, I commend your commitment to this vital sector. Your patriotic zeal confirms that our policies are on the right track and producing tangible results.”

In his remarks, Jidayi expressed deep appreciation for the Minister’s leadership and reforms, which he said had significantly improved investor confidence and streamlined access to the mining sector.

“We have observed the introduction of mining marshals to combat illegal mining and reforms that have simplified the licensing process. These efforts have directly influenced our decision to invest heavily in this project. Beyond this flagship plant, we are also establishing regional separation plants and empowering local communities and miners,” he said.

Jidayi noted that the company’s model ensures early-stage beneficiation by pre-separating metals locally, generating immediate income for artisanal miners. The initiative also includes training, provision of protective equipment, and broader community engagement.

Also speaking, Hasetins’ Director of Corporate Affairs, Peter Butt, commended Alake for bringing renewed purpose and structure to the mining sector.

He emphasised that the Minister’s strong emphasis on local value addition reinforced the company’s decision to invest in sustainable, community-driven development.

The minister reaffirmed the federal government’s full institutional support for the project, underscoring its alignment with the Ministry’s vision of transforming Nigeria’s solid minerals into a cornerstone of industrial growth and economic diversification.