Lithium and Rare Earth Resource Development
On June 25, 2026, the Africa For Africa (AFA) initiative and Steron International Resources Limited signed a strategic memorandum of understanding in Abuja to accelerate the development of lithium and rare earth resources in Nigeria. Both parties will cooperate to advance Steron's lithium and rare earth projects in Wasa and include them in the AFA mining fund support pipeline. According to the agreement, Steron will receive dedicated funding support and technical optimization to ensure the project meets international banking-grade standards.
Mining Fund Support
The cooperation adopts AFA's 51% Total African Revenue (TAB) model, promoting local mineral processing, supply chain integration, and community infrastructure investment. This marks significant progress in converting Nigeria's mineral resources into sustainable economic value, though the specific funding scale has not been disclosed and actual impact requires further confirmation.