Niger is becoming a copper producer after awarding a permit to COMINAIR SA for exploitation in the Agadez region, creating jobs and generating significant royalties. The project will maintain a focus on local company engagement while diversifying the country’s mineral output.
Niger’s mining sector plays a vital role in its economy, contributing 40% to the nation’s exports. Recently, Niger awarded a permit to Compagnie Minière de l’Aïr (COMINAIR SA) for copper exploitation in the Agadez region, marking the nation’s entry into copper production. The government holds a 25% stake in this joint venture.
The move is in response to the discovery of a significant copper deposit, with projections indicating an average production of 2,700 tonnes annually over the next decade. This initiative is also expected to create around 300 direct jobs for young individuals in Niger, thereby supporting local employment.
Financially, the project is estimated to generate approximately $6.4 million in royalties over the first ten years, alongside a surface royalty of $922,418. Additionally, COMINAIR SA is obligated to prioritize local companies for supplies and services linked to the extraction process, fostering local economic participation.
This development aligns with Niger’s objective to diversify its mining production. By broadening its mineral base beyond existing resources, the government seeks to enhance the nation’s economic stability and growth within the sector.
In summary, Niger’s recent decision to engage in copper mining through COMINAIR SA signifies a significant advancement in its mineral production capabilities. The project is projected to foster local employment, contribute substantially to the economy through royalties, and encourage the involvement of local suppliers. This initiative underscores Niger’s strategic commitment to diversifying its mining industry and enhancing economic self-sufficiency.
Original Source: www.the-star.co.ke
