Nigeria backs $400m project to build africa’s largest rare earth processing plant in Nasarawa

The Federal Government has thrown its full weight behind a $400 million investment aimed at establishing Africa’s largest rare earth and critical minerals processing plant in Nasarawa State, an undertaking expected to significantly bolster Nigeria’s mining sector and advance industrial development.

The project, led by Hasetins Commodities Limited, represents a pivotal milestone in Nigeria’s ambition to add value to its natural resources through domestic processing. It is projected to create over 10,000 jobs nationwide and enhance the country’s capacity for processing strategic minerals.

The announcement was made over the weekend by the Minister of Solid Minerals Development, Dr Dele Alake, during a courtesy visit by Hasetins’ leadership team.

In a statement issued by Segun Tomori, Special Assistant on Media to the Minister, Alake described the initiative as a direct outcome of the Tinubu administration’s reforms and its commitment to in-country beneficiation.

“With your collaboration, we are now witnessing the establishment of the largest rare earth and critical metals plant in Africa, right here in Nigeria,” Alake said.

“Your patriotic zeal confirms that our policies are on the right track and producing tangible results.”

Hasetins currently operates a 6,000-metric-tonne facility, but the forthcoming plant will add an additional 12,000 metric tonnes to its installed capacity, in anticipation of a formal groundbreaking ceremony.

The facility will process essential metals crucial to high-tech industries and defence applications, including rare earth elements and platinum group metals.

Prince Jidayi Ijudigal, Managing Director and CEO of Hasetins, attributed the company’s decision to expand its investment in Nigeria to recent policy reforms, particularly the deployment of mining marshals to curb illegal mining and the streamlining of licensing procedures

“Beyond this flagship plant, we are also establishing regional separation facilities and empowering artisanal miners,” Ijudigal said, adding that their model includes early-stage metal separation to generate income for local miners, along with training and equipment provision.

Peter Butt, Hasetins’ Director of Corporate Affairs, also commended the minister’s leadership and vision for restructuring the sector, noting that their investment reflects confidence in Nigeria’s commitment to sustainable, inclusive growth.

The ministry reaffirmed its full institutional support for the project, emphasising that solid minerals remain a central pillar in the administration’s strategy to diversify the economy and foster industrialisation.

“This project is a cornerstone of our broader strategy to make the solid minerals sector a major contributor to Nigeria’s GDP,” Alake added.