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Meeting with Investors in Riyadh at the Future Minerals Forum: Formation of a Nigeria-Saudi Joint Venture in Lithium Mining and Processing

The discussion centered on the strategic importance of lithium as a critical resource for the global transition to renewable energy and the booming electric vehicle market. The potential joint venture aims to leverage the rich lithium reserves in Nigeria and the advanced mining and processing technologies available in Saudi Arabia, creating a synergy that benefits both nations.

Key points of the meeting included:

• Resource Sharing: Identifying and accessing Nigeria's abundant lithium reserves and utilizing Saudi Arabia's expertise in mining and processing.

• Investment Opportunities: Highlighting the economic benefits and potential returns for investors involved in the joint venture.

• Technological Collaboration: Emphasizing the need for advanced technologies and innovations to ensure efficient and sustainable mining and processing operations.

• Economic Impact: Discussing the positive impact on job creation, local economies, and the overall growth of the mining sector in both countries.

The participants expressed strong interest and commitment to the joint venture, recognizing it as a significant step towards strengthening economic ties and fostering long-term collaboration between Nigeria and Saudi Arabia. The meeting concluded with a roadmap outlining the next steps, including feasibility studies, regulatory approvals, and the establishment of a formal partnership framework.

This initiative is set to position Nigeria and Saudi Arabia as key players in the global lithium market, driving economic growth and contributing to the sustainable development goals of both nations.