Mary Ogbe, Permanent Secretary of the Federal Ministry of Solid Minerals Development, announced that Nigeria’s solid minerals sector has exceeded its revenue target of N10 billion for 2024, achieving this milestone by September 2024. This information was shared during the Nigeria Mining Week in Abuja, where she highlighted the government’s commitment to developing the industry.

Ogbe emphasised the significant strides made in the sector through progressive policies and regulations that are transforming Nigeria’s economic landscape. She stated, “We are not merely refining an industry, we are building a resilient and inclusive mining powerhouse that taps into the vast potential of our land and its people.”

The Permanent Secretary pointed out that the ministry, under Dele Alake’s leadership, has formed a 7-point agenda aimed at creating economic growth via mining. She expressed confidence in continued improvement in revenue generation, predicting even higher figures by the year-end.

Lolade Ososami from Udo Udoma and Belo-Osagie reiterated the need for enhanced security to increase investor confidence, stating, “We need to boost confidence locally and internationally such that at least when you have a license, you can access your site.” She also noted areas for improvement in the legislative and regulatory framework for mining.

The Nigerian solid minerals sector is experiencing significant growth, having surpassed its revenue target ahead of schedule. Commitments to robust policies and security enhancements are crucial for sustaining this growth, with emphasis on building a strong regulatory framework to attract investment and nurture local talent.

Original Source: businessday.ng

The post Nigeria’s Mining Sector Surpasses N10 Billion Revenue Target for 2024 first appeared on Nigerian Mining News.

Nigeria and France are strengthening their collaboration to enhance mining development following a recently signed Memorandum of Understanding (MOU). This agreement was discussed at the Future Minerals Forum in Riyadh, where Nigerian Minister of Solid Minerals Development, Dele Alake, and French Inter-Ministerial Delegate for Strategic Minerals, Benjamin Gallezot, sought to promote sustainable mining practices and decarbonisation in energy projects.

Gallezot announced that his department is reviewing applications from French companies wishing to invest in Nigeria’s mining sector and will provide a list of verified investors to the Nigerian ministry. Minister Alake expressed gratitude to Gallezot for his cooperation despite time constraints during President Bola Tinubu’s visit to France, addressing misinformation regarding the MOU’s objectives.

The MOU includes plans for research collaboration, knowledge sharing, and environmental rehabilitation, focusing on over 2,000 abandoned mining sites in Nigeria. During the Forum, discussions centred on sustainable practices, artisanal mining, geological exploration, and funding for training programmes.

Olusegun Ige, Director-General of the Nigerian Geological Survey Agency, highlighted the need for modern equipment to improve geological data exploration. Similarly, Simon Nkom from the Mining Cadastral Office urged for a comparative analysis of mining laws between the two nations.

Executive Secretary Fatima Shinkafi suggested co-funding for early-stage exploration projects, stating that the Nigerian Solid Minerals Fund has accumulated significant historical data from collaborations with financial entities. Christophe Poinssot from the French Geological Agency confirmed support for increasing geologist capacity in Africa, including Nigeria.

The MOU signed between Nigeria and France seeks to boost the mining sector in Nigeria through sustainable practices and technology advancement. It aims to address issues like environmental impact and rehabilitation of defunct mining sites, thus promoting a stronger, more responsible mining industry. The collaboration also involves sharing knowledge and coordinating training programmes to enhance the skills of those in the mining sector.

The collaboration between Nigeria and France marks a significant step in enhancing Nigeria’s mining development through sustainable practices and investment. The MOU aims to tackle environmental issues while promoting technological advancements and knowledge sharing. With committed efforts from both countries, the potential for growth in the Nigerian mining sector appears promising, benefiting both economies.

Original Source: businessday.ng

The post Nigeria and France Collaborate to Advance Mining Development first appeared on Nigerian Mining News.

TIMADIX GEOMIN CONSULT LTD has issued a firm rebuttal against allegations of illegal mining made by the Nasarawa State Government, specifically targeting the actions of the Environment Commissioner. The company claims that they possess legitimate mining licenses while the state has unlawfully permitted Chinese nationals to operate on the same site. Tim Eldon, the Managing Director, highlighted the company’s adherence to laws and regulations, having secured necessary permits from the Federal Ministry of Solid Minerals Development.

Eldon condemned the Nasarawa State Government for infringing upon federal mining authority, stating their actions undermine the rule of law. To demonstrate transparency and counter misinformation, TIMADIX released documentation for their Small-Scale Mining License (SSML 60269) and Exploration License (EL 36528). Moreover, the company reaffirmed its compliance with statutory taxes and charges while urging the empowerment of local firms to enhance economic benefits for communities.

The company advocates for transparent foreign investments, condemning any corrupt practices that disadvantage local stakeholders. TIMADIX has called for federal intervention to tackle the disruptive and illegal activities initiated by the state, which they believe threaten legitimate mining efforts and community stability. The commitment to lawful operations and local development remains unwavering, stressing the importance of lawful channels in foreign investment arrangements.

In conclusion, TIMADIX GEOMIN CONSULT LTD aims to clarify its position amidst allegations by the Nasarawa State Government. The company’s commitment to legality and community development is paramount, and they call for immediate action against illegal mining practices that diminish local trust and economic growth.

Nasarawa State Government has faced criticism for allegedly issuing mining licenses to foreign entities without regard for existing local operations. This has raised concerns about the legality of such actions in relation to the federal law governing mining in Nigeria. TIMADIX GEOMIN CONSULT LTD, a local mining company, asserts that it has complied fully with these legal requirements and views the state government’s actions as a direct violation of their operational rights and federal regulations. The situation highlights the tension between state interests and federal authority in the mining sector in Nigeria.

TIMADIX GEOMIN CONSULT LTD challenges the Nasarawa State Government’s allegations of illegal mining, emphasizing its legal compliance and transparency through the publication of its licenses. The company is firmly against any corrupt practices that harm local economies and urges federal authorities to act against state-level violations. Their ongoing commitment to lawful mining practices and community benefit remains strong, advocating for the integrity and growth of Nigeria’s mining sector.

Original Source: dailypost.ng

The post TIMADIX GEOMIN Challenges Nasarawa State Mining Allegations, Upholds Legitimacy first appeared on Nigerian Mining News.

Timadix Geomin Consult Ltd has publicly refuted allegations of illegal mining raised by the Nasarawa State Government. The company, led by Managing Director Tim Eldon, claims that the Commissioner of Environment unlawfully issued mining licences to Chinese nationals on land where Timadix already holds valid permits. Eldon affirmed that the company has met all legal requirements, securing necessary licences from the Federal Ministry of Solid Minerals Development and local authorities, emphasising compliance with federal mining regulations.

In a statement released on December 22, 2024, Eldon stated that the Nasarawa State Government’s actions violate federal law, which grants mining jurisdiction solely to the federal government. He accused state officials of spreading misinformation to damage the company’s reputation while launching a call for transparency by releasing its mining licences, including the Small-Scale Mining License and Exploration License. Timadix insists that these irregular activities by the state government not only disrupt their operations but also harm local communities and discourage legitimate investments.

The company reiterated its commitment to lawful operations, stating it is up to date on all mining-related taxes and fees. With concerns over the Nasarawa Government’s preference for foreign interests at the expense of local firms, Eldon urged the federal government to promote local mining enterprises to bolster Nigeria’s economy. He emphasised the necessity of lawful and transparent foreign investment while condemning corrupt practices that exploit local resources. Timadix has requested immediate intervention from federal authorities to address the situation and restore legality in the mining sector, reaffirming its dedication to benefiting host communities and the nation.

Timadix Geomin Consult Ltd is a fully indigenous mining company in Nigeria, asserting its legal right to operate within the Nasarawa State region. The company’s response comes amid emerging allegations from the state government regarding illegal mining activities. The context includes concerns over foreign investments in Nigeria’s mining sector and the implications of local governance on resource management, transparency, and community impact.

Timadix Geomin Consult Ltd stands firm in its adherence to legal mining practices in Nigeria, countering allegations from the Nasarawa State Government with evidence of compliance and legitimate licensing. The company highlights the importance of safeguarding local interests against potentially corrupt foreign influences and calls for federal support to ensure a fair and lawful mining environment that benefits Nigeria’s economy and communities.

Original Source: dailypost.ng

The post Timadix Publicly Rejects Nasarawa Government’s Illegal Mining Allegations first appeared on Nigerian Mining News.