Let’s start with the journey of Titan Minerals up until today and the company’s unique offering.
Our vision for Titan Minerals is to become a world-leading and accredited mineral exploration company that uses modern exploration techniques and offers its expertise in advancing assets from Greenfield to public listing. Our team have a broad background in conceptual and systematic targeting of mineralisation, from regional scale projects to the planning and implementation of more focused prospect scale targeting projects. In short, we support you all the way from deposit definition to resource drilling, up to the mining stage.
We make sure that the investment of our clients meets the requirements of the international community, finance institutions, banks, and any investor that would want to look at credible data. And we built these capabilities inhouse, we have access to a large fleet of equipment. In terms of exploratory drilling, we are one of the leading institutions in Nigeria that can offer diamond drilling, reverse circulations, and equally air core/RAB.
We also possess a significant number of geophysical and electromagnetic magnetic equipment, a laboratory preparation facility, XRF spectrometers, LIBS analyser, and a large set of data related to Nigeria, probably the largest in the country, in terms of the occurrence of mineral resources and their abundance within the mineral corridors, along the Nigerian mineralised belts.
Any specific projects that Titan is involved in that you are particularly excited about?
What seems to be interesting about the current era is that we are seeing a steady flow of interest from junior exploration companies, mostly based in the UK, in Australia and Canada, that are curious about knowing the real potentials of Nigeria and whether Nigeria is really or will become a mining destination with large mines and big projects. We are currently working on several projects, mostly related to Gold, Lithium and Tin. Most importantly, there is a very large interest in battery minerals, with a large focus on lithium pegmatites and REE.
In addition, the Nigerian government is progressing with the implementation of “the roadmap”, and it is expected that the MMSD will not relent unless the objectives are achieved. After the handing over of the NIMEP project, post NIMEP discussions are mostly channelled towards attracting genuine junior mining companies to take over and progress with the requirements of a feasibility study, and eventually get these assets to the extraction level. So far, several renowned local and western companies have shown authentic interest in embarking on such a venture, and Titan Minerals is at the front of such positive impact.
How has the Nigerian industry changed in the last 5 years in your opinion?
Without doubt, the Nigerian mining industry has gained interest over the course of 5 years. For instance, we are seeing that the Nigerian government has increasingly recognised the potential of the mining sector to diversify the economy away from oil dependency. Policies have been introduced to attract investment, improve regulatory frameworks, and enhance transparency.
Efforts have been made to streamline and strengthen the regulatory environment. The Nigerian Mining Industry Roadmap and the Mineral Sector Support for Economic Diversification (MINSED) project are examples of initiatives aimed at improving sector governance and promoting sustainable development.
Additionally, there has been a noticeable uptick in private sector investment, both local and international. Companies are exploring and developing various mineral resources, including gold, lithium, and tin. This shift indicates growing confidence in the sector’s potential.
Is the government doing the right things to attract investment to develop the extractive sector and stimulate job creation?
It is evident that the industry is gaining a lot of traction and entering a gold super cycle speaks volume about what the future might hold for Nigeria’s mining industry. However, we are of the opinion that a shift should be directed towards sidelining the industry from negative publicity, such as endless talks about artisanal mining and banditry linked to gold extraction. These comments are influencing the industry in a backward direction.
As a pillar of the private sector, we strongly believe that the government’s performance is shy from showcasing and exploiting Nigeria true mineral potential. For instance, after the NIEMP project, the industry has had very little funding for exploration project and data generation. We see that Nigeria is capable in investing billions in infrastructural projects, oil and gas exploration and extraction, and almost nothing in exploring its solid mineral potentials.
What is the potential of Nigeria’s burgeoning mining industry in your view? Why should investors pay attention?
Nigeria’s mining industry holds considerable potential for growth and diversification, making it an attractive opportunity for investors. Here’s why:
Nigeria is endowed with a variety of mineral resources, including significant potentials of gold, lithium, tin, coal, limestone, and bauxite. The country’s mineral wealth is largely untapped, providing opportunities for exploration and development.
The Nigerian government is actively seeking to diversify its economy away from oil dependence. The mining sector is a key component of this strategy. With policy support and investment incentives, the sector is poised to play a crucial role in the country’s economic growth.
As Nigeria continues to develop, the demand for minerals and metals is expected to rise, particularly for materials used in construction, technology, and energy sectors. This growing domestic market can provide additional opportunities for investors.
Opportunities exist for strategic partnerships with local companies, which can provide valuable insights and facilitate entry into the market. Collaborations with
Nigerian firms can also help navigate regulatory and cultural landscapes.
Much of Nigeria’s mineral potential remains unexplored. Investors who get in early can capitalise on the first-mover advantage, accessing high-quality resources before they become widely known.
Lastly, Nigeria’s location in West Africa positions it as a strategic hub for regional trade. Investments in mining can benefit from trade agreements and partnerships within the Economic Community of West African States (ECOWAS) and beyond.
You have been a longstanding and high-level supporter of Nigeria Mining Week for many years. How important is this event on the mining industry’s annual calendar?
Being a diamond plus sponsor for the 3rd consecutive year shows the value that our company has been able to extract from the Nigeria Mining Week. We are working with great minds, and we believe that it is the biggest hub for any mining activities happening in Nigeria, where all stakeholders can come under one roof to work towards the progress of the industry.
How has the event contributed to your success in the industry?
Well, I can say how the event contributed to exposing Titan to more opportunities. For 2024 Nigeria Mining Week, we are extremely excited and looking forward to gaining a wider exposure. We want the local companies to get acquainted with our unique mineral exploration services and the global juniors to know that the Nigerian market already entails highly renowned exploration companies with an access to globally recognised experts with a vast experience in Nigeria’s distinctive geological terrain.