Speaking at the launch of the Nigerian barite in Port Harcourt, the minister for Mines and steel development, Olamilekan Adegbite said the ministry will formulate policies to stop the importation of barite mineral resources in the future and create a sustainable mining process.
Adegbite added that barite mining will be driven by the private sector, while the federal government facilitates.
On his part, the Governor of Central Bank, Godwin Emefiele who was represented by his Special Adviser on Development Finance, Anthony Ifechukwu said the apex bank will support the establishment of industries in the mining sector to diversify the economy.
The Governor of Rivers state, Nyesom Wike, represented by the Deputy Governor of the state, Ipalibo Harry-Banigo said the state will provide an enabling environment for investors in the solid mineral sector.
Barite is a mineral resource used in the exploration of petroleum product.
