Dr. Dele Alake, the Minister of Solid Minerals Development, regards his honorary fellowship from the Nigeria Mining and Geosciences Society (NMGS) as a sign of the federal government’s dedication to enhancing the mining sector. He emphasised that advancing this sector is a shared responsibility among various stakeholders.

Speaking at the 60th annual NMGS International Conference and Exhibition, themed “Transformation of the Mineral, Energy, Water and Construction Sectors Through Innovations,” Alake noted a global shift in mining practices towards digital technologies. He encouraged embracing these innovations to attract investment and improve productivity.

The ministry is focusing on using geospatial data and remote sensing for mineral exploration, which can reduce uncertainties and enhance investment decisions. Alake also mentioned plans for establishing mineral processing hubs to increase value and depend less on raw mineral exports.

The minister, represented by Dr. Mary Ogbe, expressed the government’s commitment to fostering a conducive environment for growth in mining. Initiatives will include enhancing regulatory frameworks, promoting research partnerships, and providing support for small-scale miners through access to funding and mechanisation.

Alake urged the NMGS to promote industry collaboration for transforming the mining sector and reaffirmed the ministry’s dedication to harnessing the nation’s natural resources for broader development. He stated an intention to create a resilient future for Nigeria’s mining and geosciences sector.

Prof. Akinade Olatunji, NMGS President, highlighted the critical role of innovation in sustainable development across various sectors. He urged for policies that optimise Nigeria’s youthful, dynamic population to drive growth, aiming to eradicate poverty through strategic transformation.

The conferment of Dr. Dele Alake as an honorary fellow of NMGS marks a significant commitment to transforming Nigeria’s mining sector through innovation and collaboration. With efforts focused on digital technology adoption, regulatory enhancements, and support for local miners, there is an optimistic outlook for sustainable development in Nigeria’s mining and geosciences. Furthermore, the NMGS conference underscored the potential of innovation in resolving challenges across multiple sectors while aiming to utilise Nigeria’s abundant resources more effectively.

Original Source: www.thisdaylive.com

The post Dr. Dele Alake Honoured by NMGS: A Commitment to Mining Sector Innovation first appeared on Nigerian Mining News.

At a lithium mining site in Nigeria, Abdullahi Ibrahim Danjija works diligently to extract valuable lithium from the rock. He chisels off pieces throughout the day, managing to fill three 50-kilogram bags. His efforts yield a profit of 150,000 nairas ($100), significantly surpassing Nigeria’s monthly minimum wage. This highlights both the potential for income through mining and the social implications of such manual labour in a country where many live in poverty.

Nigeria’s emerging lithium mining industry offers economic opportunities that could change lives, but it also raises concerns about workers’ rights and sustainability in a nation facing significant poverty. As mining grows, these critical issues must be addressed to ensure fair practices and environmental protection.

Original Source: www.messenger-inquirer.com

The post Nigeria’s Lithium Mining Boom Raises Concerns Amid Poverty first appeared on Nigerian Mining News.

Captain Dada Olaniyi Labinjo, Executive Managing Director of Silicon Valley Nigeria Economic Development Mining Company Limited, stated that Nigeria could generate over N37 trillion annually from mining if properly developed. He emphasised that mining could significantly boost the economy by creating jobs and generating revenue through taxes and fees for the government.

Labinjo highlighted that such revenue could be directed towards infrastructure development and social programmes. The company’s engagement in the sector aims to play a substantial role in optimising Nigeria’s mining potential and supporting economic growth.

During a recent management visit, Labinjo spoke about mining’s capacity to create thousands of jobs in various sectors like geology and engineering. He noted that mining could increase government revenue through various taxes imposed on mining activities, significantly boosting the nation’s financial resources.

Ambassador Temitope Amina Labinjo-Ajayi, Chairman of SV-NED, praised President Bola Tinubu’s Renewed Hope Agenda for its potential to positively transform Nigeria. She reiterated that mining could when harnessed effectively, reduce Nigeria’s reliance on oil and contribute to economic diversification, vital for long-term economic stability.

She acknowledged that mining infrastructure could benefit local communities and industries, promoting overall development. Labinjo-Ajayi further explained that mining could enhance foreign exchange earnings through mineral exports, promoting better currency stability.

Adediran expressed excitement about the SV-NED’s partnership and its potential to improve local economic conditions and lifestyle. He appealed for establishing a University of Agriculture to tap into local agricultural and mining resources and called for upgrading a decades-old hospital lacking necessary medical infrastructure.

The article outlines the substantial economic potential of Nigeria’s mining sector, highlighting the significant revenues that could be generated through proper management. It stresses the importance of mining for job creation, infrastructure development, economic diversification, and foreign exchange earnings. The involvement of companies like SV-NED is essential to harness this potential and enhance the general well-being of local communities.

Original Source: www.zawya.com

The post Nigeria’s Mining Sector Could Generate Over $24 Billion Annually first appeared on Nigerian Mining News.

The Nigerian federal government has unveiled plans to establish a mining corporation, as announced by Segun Tomori, the media assistant to Minister of Solid Minerals Development, Dele Alake. This corporation will be overseen by the Ministry of Finance Incorporated (MOFI) and aims to be a private sector-driven initiative with projected equity distribution: 25% for Nigerians, 25% for the federal government, and 50% for private investors. This structure is designed to reduce government and political interference in the mining sector.

Minister Alake is also advocating for the creation of a mining development bank to provide long-term financing for the industry. In a recent address, he urged mining CEOs to lead the establishment of this bank, which aims to minimise government involvement and promote sustainable growth in the sector. The ongoing efforts by the federal government focus on removing barriers to enhance business operations and encourage viable investments in mining.

The Nigerian government is taking significant steps to boost the mining sector by launching a dedicated corporation and advocating for the establishment of a mining development bank. These initiatives aim to encourage private investment, reduce government intervention, and ensure sustainable growth within the industry.

Original Source: www.thecable.ng

The post Nigerian Government to Launch Mining Corporation and Development Bank first appeared on Nigerian Mining News.

The Nigerian federal government has reported that international investors are showing interest in the country’s lithium sector. Segun Tomori, special assistant to Minister Dele Alake, stated during a recent XSpace event that lithium’s significance lies in its use for electric vehicles, solar panels, and green technologies. As a result, many investors are drawn to it, outpacing interest in other minerals like gold, nickel, and cobalt.

Tomori noted that Nigeria has already inaugurated two lithium factories, with additional ones set to open soon, including a new facility in Abuja. He emphasised the growing international mining industry’s focus on lithium, vital for solar panel and electric vehicle production, essential for green energy initiatives. The government aims to create a favourable investment environment by streamlining investment processes and addressing security concerns.

The commitment to fully exploit Nigeria’s lithium potential is evident, especially in Nasarawa state, which is believed to hold significant reserves. Tomori commended the proactive approach of Nasarawa’s governor, Abdullahi Sule, in developing the mining sector. The governor has engaged in collaborations with private entities and has applied to operate as a limited liability company.

Additionally, Tomori revealed that Nasarawa has already commissioned two lithium factories, with more expected this year. However, he acknowledged that Nigeria’s mining sector still requires technical expertise from established mining nations. The minister is actively engaging with foreign parties to seek technical partnerships and capacity-building opportunities.

Despite existing challenges, there is confidence in Nigeria’s ability to leverage its lithium resources for economic growth.

Nigeria’s lithium sector is rapidly gaining international attention, resulting in the establishment of several factories. With strategic government initiatives, particularly in Nasarawa state, and collaborations with foreign countries, Nigeria aims to develop its mining capabilities and technical expertise. The commitment from both the government and local stakeholders is pivotal in capitalising on the country’s lithium potential, despite ongoing challenges.

Original Source: www.thecable.ng

The post Nigeria Attracts International Investors to Its Promising Lithium Sector first appeared on Nigerian Mining News.

The Minister of Solid Minerals Development, Dele Alake, highlighted the vital role of Nasarawa State in Nigeria’s mining sector during a meeting with Governor Abdullahi Sule and Defence Minister Abubakar Badaru. Alake noted that Nasarawa, rich in lithium and other minerals, is essential for national development and expressed appreciation for the cooperative relationship with the state government.

Alake indicated that recent reforms have attracted global attention to Nigeria’s mining industry. Governor Sule praised Alake for promoting President Bola Tinubu’s mining agenda but acknowledged ongoing security challenges. Sule emphasised the need for collaboration to address these issues to facilitate uninterrupted mining operations.

Governor Sule reported that lithium production is thriving in the state, with more factories under construction. He stressed the importance of partnering with the private sector to enhance the mining value chain.

Defence Minister Badaru reaffirmed the federal government’s determination to combat insecurity, which has hindered mining activities. He reported progress in tackling banditry and assured that security measures are being intensified nationwide to enable safe mining operations.

Nasarawa State is rich in mineral resources, notably lithium, making it central to Nigeria’s mining ambitions. The government aims to leverage these resources for economic growth, hence the focus on overcoming insecurity to allow for sustainable development. Collaboration between state and federal officials is critical for addressing challenges in the mining sector and ensuring a conducive environment for investment and exploration.

The dialogue among officials underscores the significance of Nasarawa State in Nigeria’s mining landscape, stressing the interplay between resource development and security. Effective collaboration is essential to overcoming obstacles and bolstering the mining sector, ensuring that the state remains a pivotal player in national mineral development.

Original Source: tribuneonlineng.com

The post Nasarawa’s Role in Advancing Nigeria’s Mining Sector first appeared on Nigerian Mining News.

Dr. Dele Alake, Nigeria’s Minister of Solid Minerals Development, has proposed an equity distribution for the Nigeria Solid Minerals Corporation comprising 50% for the private sector, 25% for Nigerians, and 25% for the Federal Government. This plan has been approved by President Bola Tinubu and aims to enhance the sector’s development. Alake made this announcement during a meeting with the British Deputy High Commissioner to Nigeria, Jonny Baxter.

The proposed corporation will be managed by the Ministry of Finance Incorporated (MOFI) and follow the model of Nigeria Liquefied Natural Gas (NLNG). Alake expressed optimism that the Solid Minerals Corporation would set a precedent for political independence in the sector. The initiative also includes plans to improve transportation systems to mining sites using roads, rail, and waterways.

Looking towards 2025, Alake outlined government efforts to bolster Nigeria’s mining sector, including regulatory reforms and securing investor interests. Recent evaluations reveal that despite Nigeria’s vast mineral resources, the sector contributes less than 1% to the GDP due to issues like illegal practices and low investment.

Alake has also urged the National Assembly to reconsider the N9 billion budget allocation for mining, which he deems insufficient to realise the country’s mining potential. The committee has paused further budget screenings, inviting relevant ministers to discuss necessary funding increases to optimise the sector’s contributions to the economy.

The Nigeria Solid Minerals Corporation is a new initiative intended to enhance the mining sector’s contributions to the economy. Nigeria is currently the leading energy producer in Africa yet faces challenges in effectively utilising its mineral wealth, primarily due to inadequate incentives and environmental concerns. The Minister’s advocacy for a larger budget highlights the urgency to capitalise on these resources for economic development. Historically, Nigeria’s mining sector has underperformed, accounting for a mere fraction of the GDP despite its potential. The focus on 2025 as a transformative year indicates a strategic push to reposition the sector in a competitive global landscape, ensuring sustainable growth and investment viability.

Dr. Dele Alake’s proposal for the Nigeria Solid Minerals Corporation marks a significant step towards revitalising Nigeria’s mining sector. The equitable stake distribution aims to attract private investment while increasing local participation. Understanding the need for adequate budgetary allocations is crucial to unlocking the sector’s potential. Observations from the Minister indicate a long-term vision for sustainable growth and resistance to political interference.

Original Source: nairametrics.com

The post Nigeria’s Solid Minerals Corporation: A Shift Towards Private Investment first appeared on Nigerian Mining News.

The Minister of Solid Minerals Development, Dr Dele Alake, has stated that the Nigeria Solid Minerals Corporation will greatly impact the mining sector, forming a crucial part of President Bola Tinubu’s legacy. During a meeting with British Deputy High Commissioner Jonny Baxter, Alake indicated that the corporation’s establishment would be modelled on the Nigeria Liquefied Natural Gas (NLNG) framework, with initial setup led by the Ministry of Finance Incorporation (MOFI).

Alake described the Solid Minerals Corporation as an enduring legacy, stating that it would prevent future political interference. He revealed plans for a 50% equity stake for the private sector, 25% for Nigerians, and 25% for the federal government. He anticipates that by 2025, the mining sector will be more competitive on a global scale, focusing on improving access to mining sites and enhancing the regulatory framework.

Plans include developing intermodal transport to mining sites, remediating abandoned pits, ensuring investor security, and expanding geo-data exploration. Alake also welcomed UK support for skill-building and technical assistance, urging British investors to consider Nigeria’s mining opportunities. He highlighted the significance of 2025 for the Tinubu administration, noting positive economic trends and the government’s commitment to reform.

Ambassador Baxter expressed support for creating the Solid Minerals Corporation, praising its NLNG model. He highlighted Nigeria’s economic growth as vital for global progress and reaffirmed the UK’s commitment to enhancing cooperation in the mining sector, ensuring continued investment in Nigeria’s resources.

The article discusses the establishment of the Nigeria Solid Minerals Corporation under the leadership of Minister Dr Dele Alake. It outlines plans for a reinforced mining sector aimed at sustainable development and highlights the collaboration with the UK to bolster investment and regulatory frameworks in Nigeria’s mining industry. This initiative forms part of President Bola Tinubu’s broader economic reform agenda, with a target for significant transformation by 2025.

The establishment of the Nigeria Solid Minerals Corporation marks a pivotal step in revamping the mining sector, ensuring sustainable development and reducing political interference. With shared goals for growth, support from the UK, and a strategic model based on NLNG, the initiative is poised to attract investment and create a competitive mining landscape for Nigeria by 2025.

Original Source: blueprint.ng

The post Transforming Nigeria’s Mining Sector: The Solid Minerals Corporation Initiative first appeared on Nigerian Mining News.

The Minister of Solid Minerals Development, Dr. Dele Alake, announced that the Nigeria Solid Minerals Corporation will transform the mining sector and support sustainable development. This information was relayed by Segun Tomori, the Minister’s Special Assistant on Media, during a meeting with UK Deputy High Commissioner Jonny Baxter.

The establishment of the Nigeria Solid Minerals Corporation aims to create a robust mining sector, drawing on the successful operation model of Nigeria Liquefied Natural Gas (NLNG). The corporation is expected to have a balanced equity structure involving private and public investment, encouraging active participation from local stakeholders and international partners.

The Nigeria Solid Minerals Corporation embodies the government’s commitment to sector reform, aiming for a competitive and recognised mining industry by 2025. Support from international partners, like the UK, plays a crucial role in this transformation, bringing technical expertise and investment opportunities to the region.

Original Source: von.gov.ng

The post Nigeria Solid Minerals Corporation Set to Transform Mining Sector first appeared on Nigerian Mining News.

On Wednesday in Saudi Arabia, Nigeria and France advanced their mining collaboration by discussing a Memorandum of Understanding (MOU) established in Paris. France committed to upgrading the Nigerian Geological Survey Agency’s laboratory, supplying advanced equipment, and funding geological data exploration. This meeting was attended by Nigeria’s Minister of Solid Minerals Development and France’s Interministerial Delegate for Strategic Minerals, aiming to foster cooperation and share information on mining legislation and practices between the two countries.

During discussions at the Future Minerals Forum in Riyadh, Gallezot revealed that he was evaluating applications from French companies to invest in the Nigerian sector. Minister Alake thanked Gallezot for facilitating the MOU amidst tight schedules, mentioning that political challenges regarding the MOU’s objectives have been addressed. He called the forum a pivotal opportunity for enhancing collaboration through strategic programmes and projects.

Key topics of discussion included sustainable and artisanal mining, geological exploration, and cadastre management. The Director-General of the Nigerian Geological Survey Agency expressed the critical need for modern technology to improve geological data collection and analysis. He stated that upgraded labs are essential for accurate mineral analysis.

Additionally, the DG of the Nigerian Mining Cadastral Office suggested that both nations review their mining laws to find common ground and enhance legislation. He invited the French delegation to encourage French investors to explore mining opportunities in Nigeria. The Executive Secretary of the Nigerian Solid Minerals Fund emphasised the importance of joint funding for exploration projects with French financial institutions.

France’s geological agency representative committed to including Nigeria in its capacity-building initiatives for African geologists and discussed funding for laboratory upgrades. Gallezot finalised discussions by stating that the proposals would be reviewed by the respective governments, focusing on joint exploration efforts between the geological agencies of both countries. The programme’s progress will be analysed at the upcoming annual Indaba in Cape Town, South Africa.

The collaboration between Nigeria and France reflects a growing interest in mining, which is critical to both nations. The partnership aims to enhance technological capabilities in Nigeria’s mining sector, promote sustainable practices, and ensure legal compliance. By exchanging knowledge and resources, both countries seek to maximise their mining potential while attracting foreign investments and improving local expertise.

The strengthened ties between Nigeria and France in the mining sector indicate a strategic partnership focused on efficient exploration and sustainable practices. With commitments from France to upgrade technology and funding, this collaboration could significantly enhance Nigeria’s mining capabilities and attract potential investors. Ongoing discussions will pave the way for effective implementation, with further evaluations planned in the near future at an important mining event.

Original Source: nta.ng

The post Nigeria and France Enhance Mining Collaboration through MOU first appeared on Nigerian Mining News.