By Oscarline Onwuemenyi
CANADIAN mining giants have indicated interest to invest in the development of Nigeria’s mining and steel industry, giving positive impetus to the various efforts of the Federal Government at attracting foreign direct investments, FDIs into the nation’s mining industry.

The intension was made known when the Canadian High Commissioner to Nigeria, Mr. Chris Cooter, and the Deputy High Commissioner, Mr. Jean J. Gautheir, visited the Minister of Mines and Steel Development, Mr. Musa Mohammed Sada, in his office in Abuja recently.

The minister, who described the meeting as timely, said the federal government was working proactively at diversifying the economy of the country to other sectors particularly minerals and metal sector.

He noted that the regulatory frameworks which are being operated in the nation’s mining industry are Canadian based, adding that, draft copies of the mining regulations were circulated to prospective investors at the last Prospectors and Developers Association of Canada, PDAC Forum in Canada. The draft regulation is said to conform to international best practice.

Sada told the delegation that the federal government has already put in place a Committee on Bitumen to fast track the development of the country’s bitumen belt, adding that the chairman of the committee has been directed to liaise with the Canadian Embassy on the way forward for the exploration of the resource.

The minister reiterated government’s readiness to collaborate with state governments and the private sector in the sustainable growth of the minerals and metal sector.

He reassured the delegation that government would do the necessary things to facilitate operations of investors in the minerals and metal sector for the benefit of investors and Nigerians.

On the invitation for participation at the International Convention, Trade Show and Investors Exchange under the auspices of PDAC in Canada next year, the minister gave the assurance that the ministry would attend.

PDAC is a yearly event that continues to attract over 100 countries since its inception 39 years ago, and creates an opportunity for sharing of ideas and networking on new developments in the mining industry.

Speaking earlier, the High Commissioner explained that the purpose of the visit was to express their interest as well as seek for areas of collaboration in the development of the Nigeria’s mining industry.

The High Commissioner commended the healthy economic relation existing between Canada and Nigeria, and expressed his country’s preparedness to foster greater cooperation.

He said that Canada is the second largest mining country in the world with about 250 mining operators dotted around the globe in countries like Zambia, Tanzania, Liberia, Congo and a host of others.

Extending an invitation to the Minister to participate in the forthcoming PDAC, he noted that the forum would go a long way in boosting the economic relationship between the two countries.