FG backs $400m rare earth minerals investment in Nasarawa

The Federal Government has pledged full support for a $400 million foreign direct investment (FDI) by Hasetins Commodities Limited to establish Africa’s largest rare earth and critical minerals processing plant in Nasarawa State. The project is expected to create over 10,000 jobs and boost Nigeria’s mining sector.

Minister of Solid Minerals Development, Dr. Dele Alake, made this known during a courtesy visit by the CEO of Hasetins, Prince Jidayi, and his team. He praised the company for aligning with President Bola Tinubu’s value addition drive, stating that mineral processing is key to reducing unemployment and driving industrial growth.

Alake described the project as a major milestone in Nigeria’s efforts to restore investor confidence and deepen local participation in mineral development. He noted the plant would promote skills transfer, economic diversification, and technology-driven mining practices.

“I’m glad our engagements have resulted in this groundbreaking initiative. With your collaboration, we’re seeing the establishment of the largest rare earth and critical metals plant in Africa, right here in Nigeria,” Alake said, adding that the move confirms that current policies are delivering real impact.

Hasetins, which currently has a 6,000 metric tonne processing capacity, plans to add 12,000 more with the new facility. The company is also developing regional separation plants and empowerment programs for local communities and artisanal miners.

Prince Jidayi applauded the Minister’s reforms, especially the creation of mining marshals and streamlined licensing processes, saying they directly influenced the company’s investment decision. He said Hasetins’ model promotes early-stage beneficiation and income generation for local miners.

The initiative includes training, provision of protective equipment, and broader community engagement to ensure inclusive benefits across host areas. Jidayi emphasized that the project will help develop local capacity while contributing significantly to national output.

Hasetins’ Director of Corporate Affairs, Peter Butt, commended Alake’s leadership for bringing structure and purpose to the sector. He said the Minister’s focus on local value addition strengthened the company’s commitment to sustainable, community-driven development.