The inaugural Investment Summit and Roadshow for Solid Minerals in Nigeria, organised by the Nigerian High Commission in South Africa with Rosebank Capital, showcased the country’s mining potential to South African investors. The event highlighted policy reforms, community agreements, and innovative systems aimed at revitalising the sector. Key discussions included investment incentives, the digitisation of mining license processes, and the need for local value addition in mineral processing.

Engaging sessions helped clarify misconceptions about Nigeria’s business climate. Investors raised concerns over policy fluctuations, which were addressed by showcasing the amendment process for the Nigeria Minerals And Mining Act (2007). This aims to solidify reforms and improve the investment framework. The revised Community Development Agreements (CDAs) were also introduced to ensure host community consent for mining operations, fostering better relationships.

The Nigeria Mineral Decision Support System (NMDSS) emerged as a pivotal tool to attract investors, providing comprehensive data for informed decisions without necessitating travel. President Bola Tinubu’s promise of “Easy In, Easy Out” regarding profit repatriation, paired with tax waivers for mining equipment imports, further appealed to investors. Dr. Dele Alake emphasised the importance of local processing and skill transfer to boost Nigeria’s GDP.

Improvements in the mining license application process through the Electronic Mining Cadastral System (EMC+) were presented as a significant leap forward. Additionally, potential collaborative programmes were discussed for mutual certification of mining professionals between Nigeria and South Africa.

The summit was marked by several commitments, including interest from Pilanesberg Platinum Mines to explore similar initiatives in Nigeria and an MOU for a $1 billion coal processing and power plant project in Enugu State. Crystal Partners also expressed intentions to collaborate with Nigeria’s mining sector. Overall, the Roadshow was deemed a success, signalling a promising future for Nigeria’s solid minerals sector under proactive leadership.

The focus of this article is the recent Investment Summit and Roadshow for Solid Minerals held in Johannesburg, South Africa, which served as a platform to present Nigeria’s mining sector potential to international investors. It highlighted ongoing reforms and initiatives aimed at transforming the mining industry and establishing Nigeria as a favourable destination for mining investments. The Nigerian delegation engaged investors through presentations, discussions on policies, and innovative systems designed to ease the investment process and enhance community relations.

In summary, the Investment Summit and Roadshow successfully showcased Nigeria’s mining potential, addressing investor concerns about policies and community engagement. Promises of improved processes, attractive incentives, and the commitment to local value addition were well received. Key partnerships and initiatives were formed, indicating a proactive approach to investing in Nigeria’s mining sector, suggesting a bright future under effective leadership.

Original Source: blueprint.ng

The post Investment Summit Showcases Nigeria’s Mining Potential to South African Investors first appeared on Nigerian Mining News.

Nigeria recently held a three-day conference to commemorate National Mining Week as part of efforts to boost the country’s mining sector. With rising global demand for minerals, the government aims to attract investments and local processing for mined materials. Noteworthy initiatives include requiring new investors to establish local processing plants and a crackdown on illegal mining activities. Authorities have announced the deployment of the Mining Marshal Corps, with over 300 illegal miners apprehended, highlighting ongoing challenges in the sector, which currently contributes a mere 0.77% to GDP.

The Nigerian mining industry boasts over 40 mineral deposits, including tin, iron ore, lead, zinc, and gold. However, illegal exploitation and insufficient local revenue generation hinder growth. The government seeks to address these issues through improved regulations, local manufacturing incentives, and increased surveillance to combat illegal mining, which has become rampant amid security challenges in the region.

While Nigeria’s government is taking steps to foster growth in the mining sector, significant challenges remain. The push for local processing is a key strategy, but experts suggest that without serious commitment from the authorities, the sector will continue to underperform. Enhancing local revenue generation and controlling illegal mining are crucial for unlocking the industry’s potential.

Original Source: www.voanews.com

The post Nigeria’s Mining Week Highlights Efforts to Revive the Sector first appeared on Nigerian Mining News.

The Nigerian federal government is laying the foundation for a competitive mining sector on the global stage. Dr Mary Ogbe, Permanent Secretary of the Ministry of Solid Minerals Development, made this statement at the opening of the 9th Nigeria Mining Week in Abuja. She highlighted that Nigeria is on a transformative journey, focusing not just on refining the industry but on creating an inclusive mining powerhouse that maximises local potential. The government is implementing a seven-point agenda aimed at driving economic growth through enhanced data gathering, mine surveillance, community engagement, environmental sustainability, and strict enforcement mechanisms. A significant shift in policy requires mining lease applicants to submit value addition plans, ensuring in-country processing of minerals to boost economic benefits and local job creation. Key policy directions include the Energy Transition Minerals Development Policy (2023), the Nigerian Mineral Value Chain Regulation (2021), and a revised Community Development Agreement (CDA) framework (2023), all aimed at enhancing the industry’s sustainability and accountability. Collaboration with stakeholders is crucial for tapping into the sector’s potential as a key element in diversifying Nigeria’s economy. The 2024 Nigeria Mining Week, described as a platform for realising this vision, brings together local and international mining stakeholders to discuss strategies for promoting mineral assets. Dr Esther N. Udo from the Ministry stresses prioritising value addition, mine surveillance, and fostering a transparent environment for investment as the way forward for Nigeria’s mining sector.

The article discusses Nigeria’s efforts to develop a world-class mining sector, reflecting a commitment to global competitiveness and local economic empowerment. The focus is on sustainable practices, value addition, and community engagement within the mining industry, signalling a significant policy shift from raw material exports to in-country processing. This transformative journey is underpinned by strategic initiatives and regulations to ensure robust industry development.

Nigeria is committed to establishing a mining sector that competes globally while fostering local economic growth. By implementing a transformative agenda, promoting value addition, and encouraging stakeholder collaboration, the government aims to reshape the mining landscape. The upcoming Nigeria Mining Week serves as a critical platform for advancing these initiatives and showcasing the sector’s potential as a cornerstone of the Nigerian economy.

Original Source: leadership.ng

The post Nigeria Enhances Mining Sector for Global Competitiveness first appeared on Nigerian Mining News.

The Nigerian government is committed to fostering a strong and inclusive mining sector that drives economic growth and benefits communities. Dr Mary Ogbe, Permanent Secretary of the Ministry of Solid Minerals Development, highlighted this during her address at the Nigeria Mining Week, emphasising a transformative seven-point agenda focusing on data gathering, surveillance, and community involvement. A crucial part of this agenda requires all mining lease applicants to submit a value addition plan, shifting the focus from raw mineral exports to in-country processing, job creation, and local industry support. Furthermore, a review of the Nigerian Minerals and Mining Act from 2007 is underway to align with international standards, enhancing transparency and sustainability while attracting quality investments. Ogbe urged stakeholders to partner with the government to unlock the sector’s potential for economic impact. Adekunle Elumaro, CEO of KSM2G, highlighted the importance of tax compliance among mining companies to facilitate ongoing reforms and boost investor confidence. The ongoing Nigeria Mining Week aims to unite key players in the industry, focusing on operational strategies to attract investments and technical expertise in the vibrant extractive sector.

The discussion surrounding the Nigerian mining sector is critical as the country seeks to diversify its economy. The mining industry, historically underdeveloped, presents significant potential for economic upliftment and community development. With ongoing reforms, Nigeria aims to attract both local and foreign investments, ensuring that mining activities benefit the wider population and adhere to best practice standards. The government’s focus on value addition and sustainable practices marks a strategic shift towards realising these goals.

In conclusion, Nigeria’s commitment to a resilient mining sector is evident through policy reforms and initiatives aimed at fostering local development. The focus on value addition, transparency, and community engagement, alongside a collaborative approach with stakeholders, positions Nigeria to maximise its mining potential. As the sector evolves, it is crucial for mining companies to engage positively with the reforms to secure a prosperous future.

Original Source: punchng.com

The post Nigeria’s Commitment to a Resilient and Inclusive Mining Sector first appeared on Nigerian Mining News.

In a bid to foster a sustainable mining sector in Nigeria, the Permanent Secretary of the Ministry of Solid Minerals Development, Dr Mary Ogbe, urged industry leaders to prioritise environmental responsibility and community engagement during a recent sensitisation programme. Represented by Mr Yunusa Mohammed, the director of Artisanal and Small Scale Mining, Dr Ogbe outlined the ministry’s goals, which include promoting renewable energy, enhancing compliance with environmental protocols and investing in host communities through the Community Development Agreement. The ministry’s initiatives are rooted in the 2007 Nigerian Minerals and Mining Act, emphasizing the necessity of responsible mining practices while striving for economic growth alongside environmental protection. Dr Ogbe stated, “Responsible mining is not an option; it is a necessity. Our vision is for a mining industry that drives economic growth, while protecting our environment and strengthening our communities.” The ministry aims to engage stakeholders in discussions surrounding best practices and solutions to promote responsible resource management. Dr Vivian Okono highlighted the importance of adhering to environmental regulations, ensuring mining operations align with both national and international standards.

The focus of this announcement centres on the importance of sustainable practices in Nigeria’s mining sector. The Ministry of Solid Minerals Development aims to address environmental challenges posed by mining activities and integrate community welfare into mining operations. The 2007 Nigerian Minerals and Mining Act provides a framework for these initiatives, mandating compliance with environmental standards to drive economic and social benefits.

The Ministry of Solid Minerals Development is actively steering Nigeria’s mining sector towards sustainability through stringent environmental protocols and community-focused investments. By prioritising climate action and encouraging stakeholder collaboration, they aim to ensure that mining contributes positively to both the economy and the environment, emphasising that responsible mining is essential for future development.

Original Source: blueprint.ng

The post MSMD Champions Sustainable Mining Initiatives for Nigeria’s Future first appeared on Nigerian Mining News.

The Federal Government of Nigeria is committed to tapping into the country’s mineral wealth to foster economic growth and diversify revenue sources. The upcoming Nigeria Mining Week, held from November 18 to 20, 2024, in Abuja, aims to highlight Nigeria’s extensive mineral resources and their potential for national development. Mary Ogbe, the Permanent Secretary of the Ministry of Solid Minerals Development, briefed media outlets on the importance of this event, emphasizing that Nigeria is rich in valuable yet untapped minerals. The focus remains on reforming regulatory frameworks to unlock these resources sustainably. The conference will centre on leveraging these mineral assets to drive economic transformation, in line with the Federal Government’s Renewed Hope Agenda. Significant progress has been made in the mining sector to improve the investment climate through transparency and regulatory clarity. Dele Ayanleke, National President of the Miners Association of Nigeria, noted that the Nigeria Mining Week is a unique platform attracting international participation and has been essential for stimulating ideas and policy reforms in the mining sector. The event also showcases the latest technologies to enhance mining returns. Habeeb Jaiyeola from PwC Nigeria reiterated PwC’s commitment to supporting the sector’s growth, stating it remains vital for diversifying Nigeria’s economy away from oil dependence. The conference will open discussions on current challenges facing the sector and explore viable solutions to strengthen its future. Overall, the Nigeria Mining Week serves as an essential forum for collaboration among stakeholders to advance the mining industry and capitalise on Nigeria’s mineral wealth for economic prosperity.

The article discusses Nigeria’s efforts to harness its mineral wealth for economic diversification and growth. It features the upcoming Nigeria Mining Week, intended to showcase the country’s mineral resources, enhance investment opportunities, and facilitate stakeholder engagement. Government officials and industry leaders highlight the importance of developing a robust mining sector as a strategy to reduce reliance on oil revenues.

The Nigeria Mining Week is a strategic initiative aimed at enhancing the mining sector’s contribution to Nigeria’s economy. With a focus on international collaboration, sustainable resource management, and technological innovation, the event presents an opportunity to address challenges and unlock the country’s untapped mineral potential. The government’s commitment to regulatory reform and investment promotion underlines the significance of the mining sector in achieving economic diversification.

Original Source: tribuneonlineng.com

The post FG Plans to Unlock Nigeria’s Mineral Wealth for Economic Advancement first appeared on Nigerian Mining News.