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

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Abdullahi Sule, the governor of Nasarawa State, has highlighted the need for Nigeria to abandon the community consent form as the sole means for granting mining licences. Speaking at the NMGS conference, he pointed out that this restriction hampers states from obtaining proper revenue from the mining sector, which he believes is Nigeria’s true source of wealth, surpassing oil.

To combat the challenges in obtaining mining licences, the governor introduced an executive order mandating that all companies mining in commercial quantities must process their minerals within the state. Prior to this law, despite 416 mining licences existing, Nasarawa State received no revenue. Following implementation, the state saw the establishment of numerous processing plants, boosting local revenue.

Dele Alake, Minister of Solid Minerals Development, emphasised the government’s commitment to modernising the sector through geospatial data and remote sensing technologies. These initiatives are designed to improve mineral exploration and investment decision-making while minimising uncertainties.

Alake’s representative, Dr. Mary Ogbe, also reaffirmed the federal government’s dedication to fostering an environment conducive to innovative growth in mining and related sectors. This includes the creation of mineral processing hubs aimed at enhancing value addition and diminishing dependence on raw mineral exports.

Prof. Akinade Shadrach Olatunji, President of NMGS, stated that integrating agriculture with advanced geoscience and mining solutions would significantly transform Nigeria’s economy. He noted that industrialised nations have long recognised this relationship, supporting well-funded geoscience and mining agencies with top-tier talent.

In summary, Governor Abdullahi Sule advocates for reforming Nigeria’s mining licence system to enhance revenue. He has implemented measures in Nasarawa State to facilitate local mineral processing. The federal government is also focused on leveraging technology and creating hubs for mineral processing to boost value addition, aiming to transform the mining sector into a key economic driver alongside agriculture.

Original Source: dailytrust.com

The post Governor Sule Advocates for Mining Licence Reform in Nigeria first appeared on Nigerian Mining News.

Nigeria and Venezuela have engaged in discussions regarding investment opportunities in the mining sector during the Mining Indaba in Cape Town, South Africa. The Minister of Solid Minerals Development, Dr Dele Alake, highlighted the shift both countries must make from petroleum sales to solid minerals due to global energy transitions and economic pressures.

Alake emphasized Nigeria’s commitment to diversifying its economy under President Tinubu’s Renewed Hope Agenda, focusing on critical minerals like lithium and cobalt necessary for the global energy shift. He expressed that both nations can collaborate effectively to utilize their mineral resources sustainably, enhancing local economies.

In seeking to process minerals like lithium for local use instead of exporting them raw, Alake stressed the goal of creating jobs and boosting the economy through value-added production. He also invited Venezuela to participate in a new coalition named the Super Region, aimed at facilitating trade and economic independence for member countries.

Deputy Minister Alejandro Martinez praised Alake for recognising the shared challenges faced by both nations reliant on oil and eager to transition their economies. He expressed interest in Venezuelan investment, particularly in mining machinery, and requested support for investor engagements in Nigeria.

A delegation from Venezuela included the ambassadors to South Africa, indicating diplomatic support. Martinez conveyed appreciation from Venezuelan President Nicolas Maduro for President Tinubu’s leadership.

Nigeria and Venezuela are exploring collaborative opportunities to develop their mining sectors, transitioning from oil dependence to solid minerals as a means of economic diversification. The focus is on sustainable resource exploitation, enhancing local economies by processing minerals for local use. Ultimately, this partnership aims to foster trade among similar countries facing economic challenges.

Original Source: fmino.gov.ng

The post Nigeria and Venezuela Collaborate on Mining Sector Opportunities first appeared on Nigerian Mining News.

The Nigerian federal government plans to set up a new mining corporation, the Nigeria Solid Minerals Corporation, to enhance the mining sector’s growth. This announcement was made by Segun Tomori, the Special Assistant on Media to the Minister of Solid Minerals Development, Dele Alake, during an XSpace discussion.

The corporation will be managed by the Ministry of Finance Incorporated (MOFI) and is expected to launch soon. It aims to serve as a specialized vehicle focused on advancing Nigeria’s mining industry, allowing Nigerians to hold equity in the corporation.

Equity distribution will aim to balance public and private interests: the federal government and citizens will each hold 25% while the private sector will own the remaining 50%. This structure is designed to minimise government interference and ensure sustainability beyond current administrations.

In parallel, Minister Alake has proposed establishing a mining development bank to assist in providing long-term financing for the sector. He urged mining company CEOs to lead this initiative, which aims to reduce government involvement and enhance the sustainability of the sector.

Furthermore, the government is working on removing obstacles that hinder business operations in the mining industry, fostering a better investment climate in Nigeria.

The establishment of the Nigeria Solid Minerals Corporation marks a significant step towards revitalising Nigeria’s mining industry by encouraging private sector participation and equity distribution. The proposal for a mining development bank further aims to sustain industry growth while reducing government involvement. Overall, these initiatives indicate a strategic effort to create a conducive environment for investment in Nigeria’s mining sector.

Original Source: www.tv360nigeria.com

The post Nigeria to Establish Solid Minerals Corporation to Boost Mining Sector 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.

Nigeria and Venezuela are exploring investment opportunities in the mining sector. Discussions took place between Nigerian Solid Minerals Development Minister Dele Alake and Venezuelan Deputy Minister of Mining Alejandro Martinez during a mining event in Cape Town, South Africa. Both countries face similar political and economic challenges and seek cooperation to sustainably utilize their resources.

Minister Alake invited Venezuela to join a new coalition of African, Asian, and Middle Eastern countries in mining, aiming to enhance trade among members and leverage investment opportunities. In response, Deputy Minister Martinez praised Alake for recognising the parallels between the two oil-producing nations, both of which are now looking for alternatives to strengthen their economies through solid minerals.

The collaboration between Nigeria and Venezuela in the mining sector is a strategic move aimed at overcoming their respective economic challenges. By joining forces, both countries can work towards sustainable resource management and explore new avenues for economic diversification through mining partnerships.

Original Source: nta.ng

The post Nigeria and Venezuela Collaborate on Mining Investment Opportunities first appeared on Nigerian Mining News.

Venezuelan Deputy Minister of Mining, Alejandro Martinez, has announced that Venezuelan investors are keen to explore opportunities within Nigeria’s mining sector. This interest was conveyed during discussions with Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, at the Mining Indaba in Cape Town, South Africa. Martinez noted that Venezuelan investors, particularly those in mining machinery production, are eager to collaborate and seek assistance in facilitating visits to Nigeria for investment insights.

Minister Alake highlighted that both countries previously benefited from petroleum but now face the need to diversify into solid minerals due to global warming and economic pressures. He emphasised that Nigeria has significant mineral resources crucial for energy transition, such as lithium, cobalt, nickel, and rare earth elements. Alake stressed the importance of processing minerals locally to generate employment and economic growth.

Alake called on Venezuela to join a new coalition of nations, termed the “Super Region,” aimed at facilitating trade among member countries and leveraging shared economic challenges for collective gain. He reiterated Nigeria’s commitment to collaborating with Venezuela on mineral exploitation and ensured that any projects would focus on local value addition and sustainability. The meeting saw participation from key Venezuelan officials, including the Ambassador to South Africa, Carlos Fed Acevedo.

The collaboration between Venezuela and Nigeria in the mining sector emerges as both countries seek to diversify their economies. With a shared background in petroleum production, both nations are now facing the reality of shifting global energy demands. Venezuela’s interest in Nigeria’s mining sector comes at a time when Nigeria is keen to exploit its mineral resources to boost economic independence and local employment. This partnership presents opportunities to harness each nation’s strengths for mutual benefit, particularly in mineral processing and trade.

The engagement between Venezuelan and Nigerian officials points towards a promising partnership in the mining sector. With a strong focus on sustainable development and local value addition, both nations are committed to leveraging their mineral resources effectively. As they navigate economic diversification, initiatives like the ‘Super Region’ coalition could strengthen their cooperative efforts and enhance trade relations, ensuring growth in the increasingly important mining sector.

Original Source: punchng.com

The post Venezuelan Investors Show Interest in Nigeria’s Mining Sector first appeared on Nigerian Mining News.

The Nigeria Security and Civil Defence Corps (NSCDC) Mining Marshals are determined to intensify their efforts against illegal mining operations in 2025. At the NSCDC National Headquarters, Commander John Attah discussed the achievements made in 2024, specifically targeting powerful cartels hindering the nation’s mineral resource management. The establishment of an Inter-Ministerial Committee has led to the development of strategies aimed at reducing unlawful activities in mining sectors.

Since the launch of the Specialized Mining Marshals in March 2024, over 2,509 trained operatives have been deployed across Nigeria to strengthen security in mining regions. Attah praised the collaboration between the Ministry of Solid Minerals and NSCDC, crediting it with the significant progress in combating illicit mining activities. The squad has successfully shut down illegal mining sites and ensured adherence to legal frameworks governing the industry.

Attah expressed optimism about future operations under Commandant General Dr. Ahmed Abubakar Audi’s leadership, emphasising their commitment to rooting out illegal miners and their networks. The Mining Marshals reaffirmed their dedication to intensifying efforts against illegal mining in 2025 to safeguard Nigeria’s extensive mineral wealth from exploitative practices.

The NSCDC Mining Marshals were established to address the rising challenge of illegal mining in Nigeria, which poses significant threats to the nation’s mineral resources and economic stability. In recent years, increased illegal mining activities have led to environmental degradation and loss of government revenue. The collaboration with the Ministry of Solid Minerals marks a proactive approach to enforcing legal mining practices and protecting natural resources.

The NSCDC Mining Marshals are resolute in their mission to eliminate illegal mining activities in Nigeria by 2025. With a focus on strategic collaboration and enhanced operational capabilities, the squad aims to significantly reduce illicit activities that threaten the country’s mineral resources. Their ongoing commitment reflects a serious stance against economic sabotage and a dedication to preserving Nigeria’s natural wealth.

Original Source: thewhistler.ng

The post NSCDC Mining Marshals Pledge to Intensify Crackdown on Illegal Mining in 2025 first appeared on Nigerian Mining News.

Dele Alake, Nigeria’s Minister for Solid Minerals Development, has highlighted insecurity and insufficient funding as the main obstacles to the nation’s mining sector growth. He has called on the Senate for increased financial support to facilitate thorough exploration of Nigeria’s rich mineral resources.

During an investigative hearing by the Senate Committee on Solid Minerals, Alake pointed out that poor funding hampers exploration and limits the sector’s potential in economic diversification. He expressed concern over Nigeria’s meagre $2.5 million investment in mining exploration, which ranks it 12th in Africa behind countries like Ivory Coast and the Congo.

Alake lamented the country’s low exploration budget compared to Africa’s leaders, with Ivory Coast investing $147 million. He proposed a funding requirement of N70 billion to enhance exploration across Nigeria, warning that the upcoming budget may hinder progress without legislative support.

To combat illegal mining, the Minister introduced a 2,220-strong Mining Marshals unit, deploying operatives across the states. He explained the various categories of illegal miners and revealed that Nigeria loses over $9 billion annually due to illegal mining activities.

In addition to the Marshals, Alake disclosed ongoing initiatives aimed at advocating for legalisation of artisanal mining, including a radio campaign to promote cooperative formation. This effort aims to align with the government’s new value addition policy, with plans for establishing six processing centres across Nigeria’s geopolitical zones.

Senate President Godswill Akpabio commended Alake’s commitment to solid minerals development, emphasising collaboration between the legislature and executive to tackle issues arising from illegal mining. The Senate Committee Chair, Ekong Sampson, reiterated the importance of addressing challenges to maximise the economic benefits of Nigeria’s vast mineral resources.

The Nigerian mining sector faces significant challenges, primarily due to insecurity and inadequate funding. These issues detract from the sector’s potential to serve as a key driver for economic diversification. The call for legislative backing and increased investment highlights the government’s recognition of the mining sector’s expansive potential, stemming from the rich mineral deposits available throughout the country.

In summary, Dele Alake has underscored the critical issues of insecurity and funding in Nigeria’s mining sector. He is advocating for legislative support and increased investment to enhance exploration efforts and combat illegal mining. With collaboration between the Senate and the Ministry, there is hope for a revitalised mining sector that contributes meaningfully to Nigeria’s economy.

Original Source: businessday.ng

The post Insecurity and Funding Issues Restrain Nigeria’s Mining Sector Growth first appeared on Nigerian Mining News.

Dr Dele Alake, the Minister of Solid Minerals Development, underscored Nasarawa state’s critical role in enhancing Nigeria’s mining sector during a meeting with Governor Abdullahi Sule and Minister of Defence Abubakar Badaru. He highlighted Nasarawa as a mining hub, especially for lithium, and emphasised the need for ongoing collaboration to exploit the state’s mineral wealth effectively.

Nasarawa state is known for its extensive mineral resources, particularly lithium, positioning it as a pivotal area for mining efforts in Nigeria. Recent reforms in the country’s mining sector have sparked increasing interest from global investors. However, challenges such as insecurity remain, prompting the need for enhanced cooperation among state and federal officials to support mining activities while addressing security concerns.

The emphasis on collaboration between governmental bodies is crucial for advancing mining activities in Nasarawa, particularly amidst ongoing security challenges. The commitment by officials to address these issues signifies a robust strategy towards unlocking the state’s minerals potential for national growth. Overall, sustained cooperation is imperative for the mining sector’s success in Nigeria.

Original Source: blueprint.ng

The post Nasarawa State: Key to Nigeria’s Mining Future, Says Minister Alake first appeared on Nigerian Mining News.