FG begins Lagos gold refinery operation, $600m lithium plant inauguration
R-L: Saudi Arabian Minister of Industry and Mineral Resources, Ibrahim Al-Khorayef; Minister of Solid Minerals Development, Dr. Dele Alake during the minister’s courtesy visit to his Saudi Arabian counterpart ahead of the Future Minerals Forum (FMF), Riyadh, Saudi Arabia. 13th January, 2026. CREDIT: Solid Minerals Development Ministry
Says Nigeria was ready to strengthen its partnership with Saudi Arabia.
The Federal Government has announced the commencement of operations at a high-purity gold refining plant in Lagos, with three additional gold refineries at different stages of development across the country and a $600m lithium processing plant in Nasarawa State ready for commissioning.
The Minister of Solid Minerals Development, Dele Alake, disclosed this on Tuesday, saying the projects marked tangible outcomes of the government’s value-addition policy in the mining sector and were repositioning Nigeria as Africa’s leading minerals hub and a strategic global partner in critical minerals for the green energy transition.
Alake spoke during a meeting with the Saudi Arabian Minister of Industry and Mineral Resources, Mr Ibrahim Al-Khorayef, held ahead of the Future Minerals Forum in Riyadh, Saudi Arabia.
A statement by the Special Assistant on Media to the minister, Segun Tomori, said the engagement focused on deepening bilateral cooperation in solid minerals development and translating previous discussions into actionable outcomes.
According to Alake, the operational Lagos refinery and the forthcoming lithium processing facility underscore the Federal Government’s determination to move Nigeria away from the export of raw minerals to in-country processing and beneficiation.
“Nigeria’s value-addition policy is already yielding tangible results, with a gold refining plant of very high purity now operational in Lagos, three additional gold refineries at various stages of development, and a $600 million lithium processing plant in Nasarawa State ready for commissioning,” the minister said.
He noted that Nigeria was eager to strengthen its partnership with Saudi Arabia by leveraging areas of comparative advantage, particularly in capacity building, training of mining professionals, technology transfer and exploration.
““There are areas of comparative advantage where Saudi Arabia excels and others where Nigeria has strengths. We are keen on structuring agreements that will enable us to engage meaningfully and constructively.
“Priority areas include capacity building, training of mining professionals, technology transfer, and particularly exploration, where Saudi Arabia has demonstrated some expertise,” Dr. Alake stated.,” Alake added.
The minister also highlighted Nigeria’s vast landmass and abundance of critical minerals and rare earth elements required by the global economy, stressing that the Future Minerals Forum platform should be used to fine-tune partnerships anchored on fairness, equity and mutual benefit.
Recalling follow-up engagements after the 2025 edition of the forum, Alake disclosed that a joint working group comprising officials from Nigeria and the Saudi Chamber of Commerce had been active over the past year and would present its report before the end of the current forum.
He identified mineral traceability, Environmental, Social and Governance standards, and mine-pit remediation as priority areas for collaboration, noting that traceability in particular boosts investor confidence and should be central to any partnership, alongside clear timelines and robust monitoring and evaluation mechanisms.
In his remarks, Minister Al-Khorayef reaffirmed Nigeria’s status as a longstanding ally of Saudi Arabia and agreed on the need for a practical and actionable agreement on solid minerals development.
He proposed that the working group develop a draft MOU based on previous engagements for possible signing on the sidelines of the conference.
The Saudi minister also urged Nigeria to leverage the FMF platform to showcase investment opportunities in its mining sector to Saudi investors, while encouraging African countries to adopt advanced technologies in mining development, noting that Nigeria could benefit from Saudi Arabia’s progress in this area.
Nigeria has in recent years intensified efforts to reform its mining sector, curb illegal mining and attract investment through incentives, improved regulation and a renewed push for local processing of solid minerals.
The government views lithium, gold and other critical minerals as central to diversifying the economy and supporting global energy transition value chains, amid rising demand for battery and clean-energy inputs worldwide.
