Nigeria is set to become home to Africa’s largest rare earth minerals processing facility following a $400 million Foreign Direct Investment (FDI) commitment from Hasetins Commodities Ltd. The landmark project, announced this week, represents a major boost to President Bola Tinubu’s drive for in-country mineral value addition and economic diversification.
The plant, which will be developed in partnership with the federal government, is expected to generate over 10,000 jobs and significantly elevate Nigeria’s standing in the global critical minerals supply chain. Rare earth elements are vital in the production of high-tech products including electric vehicles, smartphones, wind turbines, and military-grade electronics.
Minister of Solid Minerals Development, Dele Alake, described the investment as a “game-changer” for Nigeria’s mining sector, praising Hasetins for aligning with the administration’s long-term strategy to process and add value to minerals within national borders.
“This is more than just a plant,” Alake said. “It is a symbol of the confidence investors are beginning to place in Nigeria again. We are seeing the fruits of policy reforms designed to make Nigeria a destination for responsible and profitable mining.”
Hasetins Commodities Ltd, which currently operates at a capacity of 6,000 metric tons annually, plans to triple output with the new facility. Company officials also emphasized their commitment to empowering local miners through skills development and early-stage beneficiation—steps that will ensure more of the mining value chain remains within Nigeria.
According to Hasetins Managing Director Ibrahim Zubair, the company aims to build not just a facility, but an ecosystem. “We’re creating value across the board—training local miners, transferring knowledge, and building sustainable partnerships with communities,” he said.
The rare earth sector has gained increased geopolitical importance in recent years as countries seek to diversify supply chains away from traditional sources like China. Nigeria’s vast untapped mineral reserves, coupled with recent reforms in the mining sector, have made it an attractive destination for new investments.
President Tinubu’s administration has prioritized mineral resource development as a key pillar of the national economic strategy. In addition to revising mining laws and streamlining licensing procedures, the government has been actively courting private sector players to invest in domestic mineral processing.
Analysts see the Hasetins project as a turning point for Nigeria’s long underdeveloped mining industry. “The move towards in-country beneficiation is crucial,” said Kemi Awoniyi, a mineral economist based in Abuja. “If implemented effectively, this plant could lay the foundation for a full-fledged rare earths supply chain in West Africa.”
The federal government has pledged full support for the project, with plans to fast-track permits and infrastructure support for the facility. Industry experts say the initiative could serve as a model for other mineral-rich African nations seeking to add value locally and reduce dependence on raw material exports.
With construction expected to begin in the coming months, Nigeria is positioning itself not only as a mining powerhouse, but as a vital player in the global clean energy and technology transition.
