Africa’s mining industry to yield $58bn revenue


The Diipsolution Africa Mining Exhibition and Award (DAMEA) scheduled to take place in Lagos from 30th May to 1st June, 2018 is to pave the way for Nigeria to tap into the over $58 billion estimated revenue from the mining industry across Africa in the next five years.

The exhibition is aimed at providing corporate organizations, individuals, government and other stakeholders with the platform to synergize and launch into the huge mining potentials in the continent.

Speaking at a press conference recently to unveil the details of DAMEA 2018 program, Director of project, Kabiru Arogundade, expressed his excitement about the potentials of mining industry in Africa.

He went further to explain: “Diipsolution Africa Mining Exhibition and Award is a mining impact and development summit aimed at exploring young talents and professionals for ingenuous and competitive mining solutions for Africa’s economic growth.

 “The event provides a platform for professionals, operators, investors, government agencies, institutions, trainees and other stakeholders in the sector to converge, exchange ideas, initiate and seal deals, win mandates and recognition for ingenuities, innovations, investments, bold strides and contributions to the development of the sector.”

According to him, the project is planned also to strengthen the participation of young talents and professionals in the development of the sector.

Briefing the audience too, Tunde Oduwole, a Quantity Surveyor, and MD of Tunde Oduwole & Associate said, “…Everyone thinks about oil & gas, but few years from now oil may become useless.”

In her closing remark, Hajia Rakia Zubairu, Pioneer head of gender desk, Bank of Industry and former broadcaster with NTA, said she was impressed with what Timidade Minerals and Mining Investment Limited has put together.

“The DAMEA Award will do for the mining industry, what AMA Award is doing for the Nollywood. This event will help the mining industry to sanitize itself.”

Mining, said Rakia, is a major economic contributor and thus urged government and other stakeholders to sign on to this project. Some of the features of the program for this year include Deal Fair (a networking opportunity where investor can initiate and seal deals), Exhibition, Training/Workshop, Big Brain Challenge (professional competition), and Award Presentation.

Africa accounts for 30 percent of the world’s mineral resources, while the mining of natural resources accounts for 35 percent of Africa’s economic growth.

Mining and quarrying currently account for about 20 percent of Africa’s economic activity and 10 percent of the continent’s total export earnings.

Amaka E. Nliam