News Lithium Is The New Oil, Gov’t Must Control Its Exploitation – Malami
According to him, the current regime where a company gets a licence and starts mining lithium without proper control and regulation is not in the best of the country.The COMEG-certified geologist and businessman, who served on the Boards of some notable companies in the extractive industry before his appointment as SMDF Board chairman, said: “Any foreign investment in lithium must be controlled in a way that prioritises the political and economic interest of the country.
Malami commended the minister of Mines and Steel Development, Arc. Olamilekan Adegbite, for protecting the interest of Nigeria while responding to Tesla’s bid to mine and export lithium from the country. The SMDF board chair called for the establishment of a special-purpose fund for the exploration of lithium in the country saying: “We must be ready and deliberate in developing funds for lithium exploration and exploitation in Nigeria, just like we have the Petroleum Technology Development Fund .
“When this happens, you can imagine how much lithium resources will be required to fire the electric vehicles that will be in use across the world!” he said.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Borrowing costs, others weaken Nigeria’s fiscal position – W’BankThe World Bank has said that high borrowing costs, lower energy prices, slow growth in oil production and subdued oil-sector activity weaken Nigeria’s fiscal position.
Read more »
Oil falls to $79.32 over US rate hikes - Punch NewspapersOil prices edged lower on Tuesday on expectations that further interest rate hikes in the United States, the world’s biggest oil user
Read more »
Illegal crude oil pipeline uncovered in Rivers communityThe authorities of the Tai Local Government Area of Rivers State, have said they have uncovered a pipeline used by illegal refiners to steal crude oil in Nonwa-Uedume community of the state.
Read more »
Oil theft: '7-year-old' illegal tapping point uncovered in Rivers communityAn illegal tapping point on the TNP has been uncovered in the Nonwa Uedume community of Tai local government area, Rivers state.
Read more »
Illegal oil pipeline uncovered in Rivers communityThe illegal connection was discovered following a tip-off, an official said.
Read more »
Poverty In Niger Delta Bizarre Despite Oil Wealth, Ayu LamentsNational chairman of Peoples Democratic Party (PDP), Senator Iyorchia Ayu, has deplored the poor living conditions in the Niger Delta region. Ayu spoke when
Read more »