…Endorses Dukia-Arinola Polymetallic Mine-to-Market Initiative
The Honourable Minister of Solid Minerals Development, Dele Alake, has assured foreign investors in Nigeria’s solid minerals sector that the Federal Government will leverage the full benefits of Nigeria’s status as a signatory to the Cape Town Convention on International Interests in Mobile Equipment to safeguard their investments.
Speaking at the signing ceremony of an Engineering, Procurement and Construction Management (EPCM) Memorandum of Understanding (MoU) between Dukia Gold & Precious Metals Refining Company Limited and SGS Bateman on the sidelines of the Investing in African Mining Indaba held in Cape Town, South Africa, the Minister emphasized that Nigeria’s participation in the Convention provides strong assurance to international lenders, leasing companies, equipment financiers, and technical service providers.
“It is important to note that Nigeria is a signatory to the Cape Town Convention on International Interests in Mobile Equipment,” Alake said. “This provides a robust assurance framework for international financiers and service providers. It strengthens confidence that mining equipment and mobile assets deployed into Nigeria can enjoy internationally recognized protections — a key factor for project finance, asset leasing, and structured equipment procurement.”
Also known as the Cape Town Treaty, the Convention standardizes transactions involving movable property. It establishes international standards for the registration of sales contracts, security interests (including liens), leases, and conditional sales agreements, while providing legal remedies in cases of default — including repossession and clarity regarding bankruptcy proceedings.
Describing the Dukia–SGS Bateman partnership as a significant milestone and a strong signal of Nigeria’s rising profile in the global mining value chain, Alake reiterated that the mining sector remains central to Nigeria’s economic diversification strategy.
The Minister stated that the Federal Government recognizes the strategic importance of the initiative and will continue to provide an enabling environment for credible investors and technical partners to succeed.
He highlighted the impact of deliberate reforms introduced by the Federal Government to unlock opportunities across Nigeria’s mining and minerals value chain. These reforms include improved regulatory clarity, streamlined licensing processes, investor-friendly fiscal incentives, and prioritization of infrastructure to support mineral development and beneficiation.
According to the Minister, these measures are already yielding measurable results. “The sector has been recording growth, with mining contributing more significantly to GDP, reinforcing the momentum of the reforms and our commitment to sustained sector expansion,” he said.
Alake described the Dukia-Arinola Mineral Resources Development Project — a special purpose vehicle of Dukia Gold & Precious Metals Refining Company Limited — as emblematic of the future of mining in Nigeria. He noted that the project prioritizes local value addition, beneficiation, and integrated Mine-to-Market development.
“It is especially encouraging that the project is structured around a scalable polymetallic processing strategy, designed to support phased growth from early-stage operations into large-scale industrial capacity over time,” he said.
The MoU marks a significant milestone in the structured advancement of the Dukia–Arinola Mineral Resources Development Project, located in Ose and Owo Local Government Areas of Ondo State, Nigeria, within the Igarra Schist Belt (NGSA Owo Sheet 265).