Nigeria, abundant in over 44 minerals across 500 locations, is evolving into a major player in Africa’s mining sector. The government aims to elevate the mining sector’s GDP contribution to 10% by 2026 by fully exploiting its vast mineral resources. Upcoming events like Africa Mining Week in Cape Town will spotlight investment opportunities in Nigeria.

Bitumen: Nigeria possesses 42.47 billion tons of probable bitumen reserves, ranking sixth globally. Major deposits are located in Lagos, Ogun, Ondo, Rivers, Bayelsa, and Edo States. A $1 billion investment by Owena Bitumen Exploration Nigeria Limited aims to develop these reserves in Ondo State.

Limestone: With approximately 10.6 billion tons, Nigeria has one of Africa’s largest limestone reserves, spread across 14 states. This resource is key for job creation and economic diversification, particularly in cement production through companies like Dangote Cement.

Coal: Nigeria’s coal reserves are significant, estimated at 2.75 billion tons, mainly found in Gombe, Kogi, Nasarawa, and Enugu States. The Zuma Coal Mining Project, operated by Zuma Energy Nigeria Limited, has a production target of two million metric tons annually over 25 years.

Iron Ore: The Itakpe mine in Kogi State hosts around 3 billion tons of iron ore, a crucial resource for Nigeria’s industrialization. The iron ore is processed to 67% purity and supplies steel plants like Aladja and Ajaokuta.

Gold: Nigeria, with 21.37 metric tons of gold reserves, is the sixth-largest gold holder in Africa. Major deposits are spread across Zamfara, Kaduna, Bauchi, Niger, and Osun States, while initiatives, including a new gold refinery by Kian Smith, aim to enhance the gold value chain.

Nigeria’s mining sector offers significant opportunities for investment and economic growth, driven by its vast mineral reserves in bitumen, limestone, coal, iron ore, and gold. By attracting global investors and focusing on sustainable exploitation of these resources, Nigeria aims to diversify its economy and improve its mining contributions to GDP.

Original Source: energycapitalpower.com

The post Five Emerging Mineral Resources in Nigeria first appeared on Nigerian Mining News.

On the radio programme, Joyce highlights the rampant illegal mining in Nigeria, shedding light on recent remarks by former Edo State governor, Adams Oshiomhole. He suggested that high-ranking officials in the government are complicit in these illegal practices, contributing to the country’s mining sector problems. Joyce calls for accountability and a closer examination of government involvement in this illicit activity.

Illegal mining has become a significant concern in Nigeria, often associated with corruption and mismanagement within the government. The involvement of high-ranking officials in these illegal activities undermines efforts to regulate the mining sector legally and sustainably. Understanding the depth of these issues is crucial for addressing corruption and protecting the nation’s resources effectively.

The discussion on illegal mining in Nigeria underscores a severe issue of corruption that extends into government ranks. Calls for greater accountability and transparency are essential to combat these illegal practices. Increased awareness and pressure on officials may lead to more stringent regulations and a more effective mining sector.

Original Source: www.nigeriainfo.fm

The post Illegal Mining in Nigeria: Joyce Discusses Government Involvement first appeared on Nigerian Mining News.

In a recent episode of Radio Active, host Joyce delves into the rampant issue of illegal mining in Nigeria. This follows remarks by Adams Oshiomole, former governor of Edo State, who claimed that senior government officials are not only aware of but also complicit in illegal mining activities across the country. The conversation highlights the serious implications of such involvement and the need for accountability within the sector.

Illegal mining has become a major challenge in Nigeria, with significant environmental and economic consequences. The comments by prominent figures like Adams Oshiomole shed light on the deep-rooted corruption that enables these practices. Understanding the role of government officials in illegal mining is crucial for addressing these issues and implementing necessary reforms.

The discussion with Joyce underscores the complexity of illegal mining in Nigeria, particularly regarding high-level government involvement. Addressing this issue requires transparency and strict enforcement of laws to safeguard the country’s resources and environment. It is imperative for authorities to investigate and take action against corrupt practices that undermine legitimate mining operations.

Original Source: www.nigeriainfo.fm

The post Illegal Mining in Nigeria: Insights from Joyce’s Discussion first appeared on Nigerian Mining News.

Edo State has surpassed Ogun and Kogi in the mining sector, achieving a production total of 19.4 million tonnes, primarily aided by the Dangote Group’s dominance, which now controls 54.2% of the market. The latest Nigeria Extractive Industries Transparency Initiative (NEITI) audit revealed that a record 2,833 licences were issued in 2023, a significant increase from the previous year, indicating a burgeoning interest in solid mineral operations. Challenges such as inadequate infrastructure, funding, and regulatory issues persist, but the sector saw a 34.4% rise in total production, reaching approximately 95 million tonnes. Regulatory recommendations from NEITI aim to enhance operational transparency and compliance, fostering an investment-friendly mining landscape in Nigeria.

The mining sector in Nigeria has long been overshadowed by oil, with limited government support and policy implementation for minerals. Despite possessing vast reserves of various minerals, including iron ore and gold, the industry faces significant underexploitation. The NEITI audit is crucial as it provides insights into financial flows and identifies obstacles within the sector, shedding light on operational transparency and regulatory compliance necessary for attracting investment.

Edo State’s ascent in the mining sector illustrates a significant shift, driven by increased licensing and production, despite ongoing regulatory and infrastructural challenges. The NEITI audit highlights the necessity for stronger governance to encourage serious investment and address the high incidence of speculative operators. Moving forward, addressing these concerns will be vital for harnessing Nigeria’s solid mineral potential effectively.

Original Source: www.thisdaylive.com

The post Edo State Leads Mining Sector Growth as Dangote Dominates with 54.2% first appeared on Nigerian Mining News.