Nigeria Confirms Discovery Of Nickel

Nigeria has confirmed the discovery of a considerable deposits of nickel in its northwestern Kaduna state, raising optimism about a potential economic turnaround at a time of a slide in public earnings from the sale of crude oil.



The discovery of "high grade" nickel had drawn the attention of top foreign investors, including a top Australian mining syndicate headed by Hugh Morgan, who is reportedly considering inking an exploration deal with Abuja, according to local Nigerian daily Premium Times "ing an Australian newspaper.



"The Ministry of Solid Minerals Development is aware of the excitement in the media about the discovery of Nickel in parts of Kaduna State. This is totally understandable considering the partial assay of the mineral assets referenced," Mohammed Abbas, permanent secretary at the ministry, said in a statement late Monday.



Nickel is used especially in the production of stainless steel. -