Experts in Nigeria’s mining sector have called for significant investment in mineral exploration and geoscience data generation to attract international mining firms. During the Nigerian Mining Week in Abuja, they referred to old, neglected mining sites as Brownfields and newer initiatives as Greenfields. Speakers, including Habeeb Jaiyeola from PwC and Fadi Abou Ghazale of Titan Minerals, highlighted the need for credible geological data as a critical factor for attracting global players like Rio Tinto. Ghazale noted the difficulties in securing exploration funding and urged for government support to enhance the investment climate. Furthermore, Simon Nkom from the Nigeria Mining Cadastre Office emphasised the importance of digitising mineral licensing. He pointed out that despite the government’s past involvement in mining, it now seeks to create a supportive environment for private sector investors. Both Nkom and Ayodeji Gbeleyi of the Bureau for Public Enterprises agreed that the lack of available geodata heavily obstructs progress. Collectively, the discussion underscores that enhancing Nigeria’s mineral wealth requires strategic investment and the generation of reliable exploration data.

Nigeria’s mining industry holds substantial potential, particularly in its Brownfield and Greenfield sites. Historically, mining was overshadowed by oil discovery, leading to a decline in exploration efforts. However, experts posit that revitalising this sector could draw investments from leading global mining companies. Key aspects influencing this potential include improved data generation, targeted strategies for mineral exploration, and a supportive regulatory environment, aiming to transition Nigeria into a competitive mining destination.

To attract major players in the mining industry, Nigeria must prioritise investments in mineral exploration and the generation of accurate geoscientific data. The current strategies involve engaging the private sector and creating favourable conditions for junior investors. By developing both Brownfield and Greenfield sites, Nigeria could rejuvenate its mining sector, potentially leading to significant economic mineral discoveries that would appeal to international investors.

Original Source: leadership.ng

The post Strategies For Attracting Mining Giants To Nigeria first appeared on Nigerian Mining News.

Nigeria’s Ministry of Solid Minerals Development has mandated all mining lease applicants to submit a detailed value addition plan. This initiative seeks to reduce reliance on raw mineral exports and prioritise local mineral processing, thereby stimulating industrial growth and job creation. Dr. Mary Ogbe, Permanent Secretary of the Ministry, stated that the policy positions Nigeria as a model for sustainable mining and is integral to the government’s 7-point Agenda aimed at fostering innovation, integrity, and inclusivity within the sector. Also highlighted was the Energy Transition Minerals Development Policy, which aims to exploit Nigeria’s critical mineral resources for renewable energy needs. Moreover, reforms such as strengthening Community Development Agreements and enhancing human capital through skills development were mentioned as vital steps towards a resilient mining sector. Dr. Esther Udo, Director of Investment Promotion, reinforced the need for partnerships to harness the potential of Nigeria’s 44 commercially viable minerals, ensuring equitable benefits for host communities. The ongoing Nigerian Mining Week features discussions and workshops focused on enhancing mining sector growth and sustainability, covering topics like ESG compliance and investment strategies. Overall, these initiatives facilitate a cooperative dialogue among stakeholders to establish a robust mining ecosystem in Nigeria.

The Nigerian government is implementing reforms in the mining sector to pivot from raw mineral exports to value addition within the country. The Ministry of Solid Minerals Development is spearheading this initiative as part of its broader strategy to enhance the economic viability of mining. The focus is on creating jobs, better managing resources, asserting sustainable practices, and ensuring local community involvement in mining activities. These efforts are essential for aligning Nigeria’s mining sector with global standards and responding to the increasing demand for sustainable practices.

The Ministry of Solid Minerals Development’s new policy mandates that mining lease applicants provide value addition plans, aimed at reducing raw mineral exports and encouraging local processing. This initiative, along with significant reforms and strategies, is designed to create a sustainable, inclusive mining sector that benefits both the economy and local communities, while positioning Nigeria as a leader in responsible mining practices.

Original Source: von.gov.ng

The post Nigeria Enforces Value Addition Plans for Mining Lease Applicants first appeared on Nigerian Mining News.

Dele Alake, Nigeria’s Minister of Solid Minerals Development, emphasized the government’s commitment to halting the export of mineral resources during a press conference for the ninth edition of Nigeria Mining Week. The aim is to implement a value-addition policy that ensures minerals are processed locally to boost the economy. Nigeria, rich in 44 minerals, is focusing on local beneficiation to create jobs and enhance industrial growth. The government will tackle issues like illegal mining to secure mineral resources, reinforcing that the solid minerals sector should contribute significantly to the national GDP. Stakeholders view the mining week as an opportunity to enhance the industry and showcase technological advancements.

The Nigerian government seeks to develop its solid minerals sector to strengthen the economy, reduce dependency on external mineral imports, and create local job opportunities. This initiative aligns with global trends towards energy transition and sustainable mining practices. By prioritising local processing and value addition, Nigeria hopes to establish itself in the global mineral market and ensure local communities benefit from their resources.

In conclusion, the Nigerian government’s strategy under Minister Dele Alake aims to transform the country’s mining sector by prohibiting mineral exports, fostering value addition, and increasing local processing capabilities. This approach is set to benefit the economy and positions Nigeria for a prominent role in the global mineral value chain.

Original Source: www.thecable.ng

The post Nigeria to Halt Mineral Exports for Economic Value Addition first appeared on Nigerian Mining News.

Mining in Nigeria has sparked significant economic growth, yet it has also led to notable displacement of communities, impacting their livelihoods and cultural identity. Regions rich in minerals such as Zamfara and Niger face environmental degradation, causing health crises and economic instability. Policy enforcement is often weak, leaving displaced residents without adequate compensation or support. The disconnect between the federal government and local communities exacerbates feelings of resentment, as traditional ways of life are disrupted and social ties are severed.

Nigeria’s shift from an oil-dependent economy highlights the growing importance of mining, particularly in regions like Zamfara and Niger. These states host rich mineral deposits, attracting both formal and informal mining operations. While the mining industry promises job creation and economic benefits, it often leads to significant community displacement, loss of agricultural productivity, and deterioration of cultural ties. This report by Joy Baba Yesufu delves into these effects and the inadequacies in governmental responses.

Mining-induced displacement in Nigeria illustrates the urgent need for sustainable practices that respect community rights and environmental health. Adequate compensation and effective resettlement plans should be implemented, alongside improved communication between the government and host communities. By prioritising community welfare and strengthening regulations, Nigeria can foster a more inclusive economic growth model that benefits all stakeholders.

Original Source: www.peoplesdailyng.com

The post The Impact of Mining-Induced Displacement on Nigerian Communities first appeared on Nigerian Mining News.

The Nigerian Mining Cadastre Office (NMCO) achieved a remarkable revenue of ₦8.2 billion in October 2024, underscoring its pivotal role in the country’s economic diversification strategy. Engr. Obadiah Nkom, the Director General, reported this during a Senate Committee visit, highlighting a significant revenue increase driven by improved regulatory frameworks, transparency, and digitalisation in mining operations. Since its inception, NMCO has generated over ₦36 billion, with 100% remitted to the Federal Treasury. The agency also faces operational challenges, including staffing, power supply issues, and inadequate resources for efficient workflow. The Senate Committee emphasised the need for ongoing reforms to bolster the mining sector’s contribution to Nigeria’s economy.

The Nigerian Mining Cadastre Agency is pivotal in streamlining the mining sector by issuing licenses and monitoring revenue collection. Recent years have seen an increasing trend in revenue generation linked to improved systems and enforcement measures. As Nigeria seeks to diversify its economy beyond oil, the mining sector plays a crucial role, necessitating regulatory enhancements and increased operational efficiency within the NMCO’s framework.

In summary, the NMCO has achieved a record revenue collection, reflecting its strengthened operational capacities and commitment to transparency. However, the agency’s performance is hindered by several operational challenges that need addressing. The Senate Committee’s engagement highlights the ongoing reforms necessary to enhance the effectiveness of the mining sector and ensure its significant contribution to Nigeria’s economic landscape.

Original Source: von.gov.ng

The post Nigerian Mining Cadastre Agency Reports ₦8.2 Billion Revenue in 2024 first appeared on Nigerian Mining News.