By Enyichukwu Enemanna
Moscow has indicated interest in mining mineral resources from the African country, Equatorial Guinea, largely endowed with deposits such as gold, diamond, uranium and gas.
Russian President Vladimir Putin who stated this noted that companies in his country seeking to exert influence in Africa have a “serious” interest in extracting mineral resources in Equatorial Guinea.
He held talks with President Teodoro Obiang Nguema on Thursday in Moscow, where both leaders agreed to boost bilateral ties.
“The potential investment capacity is big, and your country’s capacity in developing these relations is also good,” Mr Putin said.
“I am referring to the potential to do with, above all, the extraction of mineral resources,” he added.
Nguema leader of the small oil-rich central African country, said he welcomed Russian companies coming to investment in his country.
He also thanked Russia for reopening its embassy in Equatorial Guinea.
Many African countries have repeatedly kicked against the export of their mineral resources, instead advocating that investors should build their factory in Africa for the processing of the mineral deposits.
This they argue, will create more jobs and boost internally generated revenue.