Minister of State for Mines and Steel Development, Hon Abubakar Bawa Bwari, who made this known in an exclusive interview with Leadership, said the discovered nickel deposits run into over 1 million tonnes.
Bwari, who spoke on the value of the discovered mineral, pointed out that in spite of the collapse of global mineral and oil prices, nickel is still sold for as high as $10,000 dollars per tonne in the world market.
He explained that the discovery was only a surface exploration and that full exploration had yet to be carried out in the area, adding that exploration and exploitation could reveal more deposits.
“The discovery of this particular nickel is unique, in the sense that while most nickel discoveries have 53-58% purity, the one discovered around Kafanchan in Kaduna state has 98% purity, it is world class and has high commercial value,” said Bwari.
He posited that the discovery is genuine as “Hugh Morgan who made the discovery is a mining industry veteran “adding that the nickel discovery is very good news for Nigeria and the world at large.”
Speaking on the economic benefits of the find, the minister of state said, “the discovery could bring international miners if properly managed and could become a game changer for the nation’s mining sector.
“It could attract major mining investors, it could become a game changer in the nation’s efforts to reposition the mining sector, it will take Nigeria to the world mining map and create royalties for revenue generation for the government,” he said.
Bwari also noted that communities will benefit from basic infrastructure, adding that, “the discovery will create job opportunities for geologists, engineers and even the locals.”
