GERMANY - Nigerian Mining News https://nigeriamining.today Thu, 26 Dec 2024 09:54:12 +0000 en-US hourly 1 https://wordpress.org/?v=6.3.5 https://nigeriamining.today/wp-content/uploads/2023/10/Screenshot-2023-10-31-at-19.14.10-150x150.png GERMANY - Nigerian Mining News https://nigeriamining.today 32 32 Nigeria Restarts Mining in Zamfara State Following Improved Security https://nigeriamining.today/2024/12/26/nigeria-restarts-mining-in-zamfara-state-following-improved-security/ Thu, 26 Dec 2024 09:53:57 +0000 https://nigeriamining.today/2024/12/26/nigeria-restarts-mining-in-zamfara-state-following-improved-security/ Nigeria has lifted a five-year mining ban in Zamfara due to better security, aiming to […]

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Nigeria has lifted a five-year mining ban in Zamfara due to better security, aiming to boost its economy by tapping into rich mineral deposits. The government plans to attract investment through reforms and international collaborations for capacity building.

Nigeria has reinstated mining operations in Zamfara state following a five-year ban due to improved security conditions. The ban was initially imposed in 2019 after persistent bandit attacks in the region. Mining Minister Dele Alake remarked that enhanced security measures have reduced insecurity levels, enabling the mining sector to contribute more significantly to the national economy. Zamfara is rich in gold, lithium, and copper, which, once exploited legally, could augment Nigeria’s revenue.

Zamfara state, located in northwestern Nigeria, has vast natural resources, including gold, lithium, and copper. The state faced significant challenges due to insecurity from banditry, prompting the government to impose a mining ban in 2019. As Nigeria seeks to diversify its economy—currently heavily reliant on oil—it aims to bolster its mining sector, which contributes less than 1% to the GDP. Recent reforms and international collaborations aim to attract investments and enhance productivity in this sector.

The lifting of the mining ban in Zamfara represents a strategic move by the Nigerian government to revitalise its mining sector. With improved security and ongoing international partnerships, Nigeria hopes to increase its economic contributions from mining and reduce its over-dependence on oil revenues.

Original Source: www.kitco.com

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Nigeria Resumes Mining in Zamfara State After Security Improvements https://nigeriamining.today/2024/12/24/nigeria-resumes-mining-in-zamfara-state-after-security-improvements-2/ Tue, 24 Dec 2024 13:59:26 +0000 https://nigeriamining.today/2024/12/24/nigeria-resumes-mining-in-zamfara-state-after-security-improvements-2/ Nigeria has resumed mining in Zamfara state following a five-year suspension due to improved security. […]

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Nigeria has resumed mining in Zamfara state following a five-year suspension due to improved security. The government aims to boost the mining sector’s GDP contribution, which is under 1%. Reforms are in place to attract investors and technical assistance is being sought from international partners to enhance the industry.

Nigeria’s mining activities in Zamfara state have resumed after a five-year ban due to improved security conditions. The ban was initially implemented in 2019 because of rampant bandit attacks, which severely affected legitimate mining operations. Mining Minister Dele Alake noted that security forces have made significant progress in reducing crime, paving the way for legal mining operations to start again. Zamfara is rich in minerals like gold, lithium, and copper, and the government aims to enhance the mining sector’s contribution to the economy, which currently stands at less than 1% of the GDP.

To attract investors, the Nigerian government has enacted reforms including the return of unused mining licences, allowing investors majority stakes in new mining companies, and strict regulations against illegal mining. Additionally, it has signed agreements for capacity-building support with countries including France, Germany, and Australia, seeking to upgrade its mining industry’s skills and efficiency. The Nigerian government is keen on diversifying its economy away from an oil dependency, leveraging its wealth of natural resources.

Zamfara state has significant deposits of valuable minerals such as gold, lithium, and copper. In 2019, the Nigerian government suspended mining operations due to escalating violence and insecurities caused by bandit attacks in the region. The recent lifting of this ban suggests that security forces have managed to achieve a level of stability that allows for the resumption of safe mining activities, indicating a shift towards enhancing the economic contributions of the mining sector in Nigeria, amidst ongoing efforts to diversify the economy.

The lifting of the mining ban in Zamfara signifies a positive development for Nigeria’s economic diversification efforts. With security improving, the government is focusing on strengthening the mining sector’s contribution to GDP, which has historically been negligible. Through various reforms and international collaborations, Nigeria is positioning itself to attract investment and enhance its mining capabilities, moving away from an over-reliance on oil.

Original Source: www.timeslive.co.za

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Nigeria Resumes Mining in Zamfara State After Security Improvements https://nigeriamining.today/2024/12/23/nigeria-resumes-mining-in-zamfara-state-after-security-improvements/ Mon, 23 Dec 2024 15:06:47 +0000 https://nigeriamining.today/2024/12/23/nigeria-resumes-mining-in-zamfara-state-after-security-improvements/ Nigeria resumes mining in Zamfara after a five-year suspension due to improved security measures. Minister […]

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Nigeria resumes mining in Zamfara after a five-year suspension due to improved security measures. Minister Dele Alake noted the reduction in insecurity will help the mining sector contribute to national revenue. The government is introducing reforms to attract investment and signed training agreements with France for capacity building.

Nigeria has reinstated mining exploration in Zamfara state following a five-year ban, attributed to improved security measures. Mining Minister Dele Alake announced that the decision comes after significant reductions in insecurity, promising to enable Zamfara’s valuable resources, including gold and lithium, to contribute more significantly to national revenue. During the ban, illegal mining had flourished, undermining legitimate operations and state resources.

To stimulate investment in its mining sector, which currently accounts for less than 1% of Nigeria’s GDP, the government is implementing several reforms. These include revoking inactive mining licences, allowing a 75% investor stake in a new national mining company, and enforcing stricter regulations against illegal mining. Nigeria has also begun international collaborations to enhance its mining capabilities, signing a training agreement with France. Alake emphasised the need for global support for further technical and financial assistance, referencing previous partnerships with Germany and Australia.

The mining sector in Nigeria has faced significant challenges due to security issues, particularly in the northwestern state of Zamfara, which is rich in minerals like gold and lithium. The government had to suspend mining activities in 2019 due to rampant banditry and illegal mining. As part of an economic diversification strategy away from oil dependence, Nigeria aims to develop its mining sector, which requires improved security, regulatory reforms, and international cooperation.

The lifting of the mining ban in Zamfara marks a significant step towards enhancing Nigeria’s mining sector and increasing its economic contributions. With investments, regulatory reforms, and international partnerships, Nigeria aims to leverage its mineral wealth while tackling the past issues of insecurity and illegal mining practices. The focus on technical assistance and capacity building highlights the country’s commitment to revitalising this important industry.

Original Source: www.mining.com

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Nigeria’s Lithium Sector Boosted by E-Marketplace Startup Sabi https://nigeriamining.today/2024/11/08/nigerias-lithium-sector-boosted-by-e-marketplace-startup-sabi/ Fri, 08 Nov 2024 10:34:12 +0000 https://nigeriamining.today/2024/11/08/nigerias-lithium-sector-boosted-by-e-marketplace-startup-sabi/ Nigeria’s lithium ambitions are bolstered by the Lagos-based startup Sabi, which has signed deals with […]

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Nigeria’s lithium ambitions are bolstered by the Lagos-based startup Sabi, which has signed deals with foreign companies to establish lithium processing plants. Sabi will facilitate supplies from local miners and handle logistics and quality control. The plants aim to export processed lithium primarily to the US. This effort aligns with broader African goals to increase the value derived from mineral resources amidst soaring global demand for lithium.

Nigeria’s ambition to establish a valuable supply chain for critical minerals, particularly lithium, is receiving an important boost from Sabi, a Lagos-based e-marketplace startup. Sabi has formed partnerships with Italy’s Snowball Holdings and US-based Transition Resources to set up lithium processing plants in Nigeria. Chief Executive Officer Anu Adasolum noted that Sabi will facilitate regular supplies from small-scale lithium miners and provide logistics and quality control services required for mineral exports. Each plant is projected to process up to 1,000 tons of lithium daily, with the US as the primary export market. The drive to move up the value chain in mineral processing also reflects a region-wide effort among African countries to secure better economic returns from their natural resources. The International Energy Agency anticipates that lithium demand could surge 13-fold by 2040, prompting Nigeria to bolster its local processing capabilities. This year, Nigeria has seen the opening of two local processing plants by Chinese firms, indicating a growing foreign investment interest in Nigeria’s lithium sector. Sabi’s role as a facilitator harnesses its experience as an intermediary in other sectors, seeking to generate substantial revenue through mineral exports. Through its proprietary software called TRACE, Sabi can provide exporters with compliance data essential for meeting international ethical sourcing standards. The company operates without physical assets, relying instead on its digital platform to facilitate transactions. Financially, Sabi earns revenue through shares of the processing plant’s exported mineral value, while also offering the option for them to purchase inputs directly from local miners. The growing focus on lithium in Africa parallels similar developments elsewhere, such as Chile’s SQM collaborating with Andrada Mining in Namibia to create a vertically integrated lithium industry.

Nigeria aims to transform its economy through the development of a value-added supply chain for critical minerals such as lithium, cobalt, and copper used extensively in renewable energy technologies. With an expected increase in lithium demand due to the transition to clean energy, African nations like Nigeria are keen to ensure they reap more benefits from their resource wealth. Companies are keen on establishing local processing plants, which could significantly increase the value of exports, doubling Nigeria’s economic returns.

Nigeria’s push to develop its lithium processing capabilities is symbolised by Sabi’s partnerships with international companies, aiming to boost local supply chains while creating economic opportunities. As global demand for lithium surges, Nigeria is strategically positioned to enhance its mineral processing sector, contributing to both job creation and greater economic returns. With further investments and innovations in technology, Nigeria could achieve significant advancements in its mineral industry, ensuring a more sustainable economic future for its citizens.

Original Source: www.semafor.com

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