Dr. Dele Alake, Nigeria’s Minister of Solid Minerals Development, highlighted that current reforms aim to elevate Nigeria to a global mining hub during the 2024 Nigeria Mining Week. He stressed government efforts to enhance the sector, promote investment, and sanitise mining through various measures. The upcoming Nigeria Solid Minerals Corporation aims to enhance partnerships for joint ventures, while initiatives against illegal mining have seen over 300 arrests. Establishing 250 artisanal mining cooperatives, he hopes to strengthen regulation. The Federal Government plans a multi-agency Mining Marshals squad for effective oversight using satellite technology. Furthermore, a new Centre of Excellence within the ministry will leverage data analytics for informed policymaking. President Bola Tinubu’s administration supports these reforms to establish Nigeria as a leader in responsible mining practices.

The Nigerian government is focusing on revitalising its mining sector to become a key player globally. This involves tackling illegal mining, promoting formal cooperative structures for artisanal miners, and enhancing investment climate through corporate reforms. The establishment of a Centre of Excellence aims to integrate advanced technologies in decision-making processes, ensuring well-informed policies and accountability in resource management. Such reforms are positioned to contribute significantly to Nigeria’s economic growth agenda.

In summary, Nigeria’s efforts to transform its mining sector under Dr. Alake’s leadership are focused on creating a reputable industry framework that fosters investment and curbs illegal activities. With the imminent establishment of a corporate entity and advanced monitoring capabilities, Nigeria is poised to enhance its global standing in mining. Support from the government further reinforces these initiatives, marking a significant shift towards responsible mining practices that underpin the nation’s economic aspirations.

Original Source: tribuneonlineng.com

The post Nigeria’s Reforms Set to Transform Mining Sector into Global Hub first appeared on Nigerian Mining News.

Dele Alake, Nigeria’s Minister of Solid Minerals Development, has urged mining companies to spearhead the creation of mining development banks. Speaking at a CEO roundtable during Nigeria’s 2024 Mining Week, he stressed the importance of a private-sector-driven initiative to reduce government involvement, ensure sustainability, and facilitate long-term financing for the industry. Alake reassured CEOs of the government’s commitment to removing operational obstacles and enhancing investment opportunities in the sector.

Alake reaffirmed the federal government’s position against state-level interference in mining, stating that mining falls under exclusive legislative authority. He encouraged states to actively engage in local mining initiatives by applying for mining licences and operating as limited liability companies. Alake noted the successful adoption of this framework by several states, resulting in approved licences for compliant applicants.

To enhance investment conditions, the minister highlighted plans for a mining infrastructure corridor, with inter-ministerial collaboration already initiated. He urged ongoing cooperation from mining executives to support reforms, including a review of the sector’s rates regime. Alake expressed confidence in the necessity of these changes for fostering a sustainable mining environment in Nigeria.

The establishment of mining development banks in Nigeria is part of an initiative to revitalize the mining sector and promote private sector involvement. The Nigerian government recognises the importance of reducing bureaucratic obstacles and encouraging sustainable investment. By outlining a clear role for mining companies, the government aims to create a productive context for growth within the industry while addressing concerns about state interference in mining operations.

Minister Dele Alake’s call for mining companies to establish development banks reflects Nigeria’s strategy to foster sustainable growth in the mining sector through private sector engagement. The government’s commitment to removing operational barriers and preventing state interference aims to attract investment and enhance the overall framework for the industry. This initiative, along with plans for a mining infrastructure corridor, seeks to create a conducive environment that supports long-term development and resilience in Nigeria’s mining landscape.

Original Source: www.thecable.ng

The post Dele Alake Advocates for Mining Development Banks Led by CEOs first appeared on Nigerian Mining News.

In a bid to establish Nigeria as a prominent global mining hub, Minister of Solid Minerals Development, Dr. Dele Alake, announced ongoing reforms that aim to enhance the sector’s reliability and investment appeal. Speaking at the 2024 Nigeria Mining Week, he outlined the government’s efforts to sanitise the mining environment through stringent measures against illegal mining and the promotion of cooperative ventures for artisanal miners.

Dr. Alake revealed the advanced progress on the establishment of the Nigeria Solid Minerals Corporation, intended to represent Nigeria internationally and facilitate joint ventures. He advocated for a dual strategy against illegal mining, incorporating both enforcement and cooperative measures, highlighting that over 300 illegal miners have been arrested.

Furthermore, a multi-agency Mining Marshals squad will be set up with security personnel supported by satellite technology for enhanced monitoring. A new Centre of Excellence within the Ministry aims to employ data analytics and AI to revolutionise resource management, ensuring transparency and informed policymaking.

President Bola Tinubu, represented by Minister Uche Nnaji, praised Dr. Alake’s commitment, asserting that these reforms will fundamentally support Nigeria’s economic development through mining. The government is dedicated to establishing high standards in responsible mining practices, reaffirming Nigeria’s future as a leader in mining technology.

The Nigerian government is currently reforming its mining sector to enhance its global competitiveness, particularly in the wake of past challenges with illegal mining and underinvestment. By establishing a solid corporate identity through the Nigeria Solid Minerals Corporation and enhancing regulatory enforcement, the country’s administration seeks not only to improve the local mining environment but also to attract international partnerships and investments. The initiative aims to provide a robust framework for sustainable mining that can greatly contribute to the national economy.

In summary, Nigeria is on a strategic path to become a global mining hub through significant reforms under the leadership of Dr. Dele Alake. These reforms focus on creating a legitimate mining environment, establishing a corporate face for international engagement, and leveraging technology for better resource management. The commitment from the government promises to elevate the sector as a cornerstone of economic growth while addressing past challenges.

Original Source: tribuneonlineng.com

The post Nigeria’s Mining Sector Reforms Aim for Global Leadership first appeared on Nigerian Mining News.

Nigeria’s Minister of Steel Development, Shuaib Abubakar Audu, announced plans to privatise Ajaokuta Steel Company Limited (ASCL) and its associated Iron Ore Mine in Itakpe during the Ninth Nigeria Mining Week in Abuja. The initiative aims to stimulate operational efficiencies in the sector, which currently incurs over $4 billion annually in steel imports. This move is part of a broader strategy to revitalise Nigeria’s mining sector as a cornerstone for economic diversification. The government is committed to transforming the mining sector, as emphasised by Uche Geoffrey Nnaji, who spoke on behalf of President Bola Tinubu. He praised the efforts of Dr. Dele Alake, the Minister of Solid Minerals, stating, “His dedication has reinvigorated our approach, addressing challenges… shaping a mining sector that can stand as a global model of innovation and sustainable development.” Minister Alake reaffirmed the government’s aim to achieve economic reform through mining, citing a seven-point agenda designed from extensive research. He noted significant progress, including the prosecution of over 300 illegal miners and ongoing reforms intended to enhance the sector’s economic contribution. Garza Jonathan Gbefwi, Chairman of the House Committee on Solid Minerals, called for increased funding in the upcoming 2025 budget, highlighting the sector’s potential economic benefits. Dr. Orji Ogbonnaya Orji, Executive Secretary of NEITI, reported that Nigeria produced 95.07 million tonnes of solid minerals in 2023, earning N9.01 billion in royalties, although only contributing 0.75% to GDP.

The Ajaokuta Steel Company Limited has long been viewed as a crucial asset for Nigeria’s industrial ambitions. However, it has struggled to operate effectively due to various challenges, prompting calls for privatisation as a solution. Investments in the steel industry are vital as Nigeria aims to reduce its heavy reliance on steel imports. The government’s focus on revitalising the mining sector is part of a larger economic diversification strategy to bolster growth and reduce import dependency.

The federal government of Nigeria is taking significant steps to privatise Ajaokuta Steel Company and its Iron Ore Mine in Itakpe to enhance operational efficiencies and reduce steel import costs. This initiative aligns with broader efforts to bolster the mining sector as a key component of Nigeria’s economic diversification. Not only is this expected to reshape the industry, but it also aims to increase the sector’s contribution to the nation’s GDP.

Original Source: nairametrics.com

The post Nigeria Plans to Privatise Ajaokuta Steel Company to Boost Mining Sector first appeared on Nigerian Mining News.

Dr. Dele Alake, the Minister of Solid Minerals Development, has declared that ongoing reforms will position Nigeria as a leading global player in mining. Speaking at the 2024 Nigeria Mining Week, he outlined initiatives to improve the sector’s integrity, enhance international partnerships, and attract investments. Central to these changes is the nearing establishment of the Nigeria Solid Minerals Corporation, aimed at facilitating joint ventures in mining. Alake detailed efforts against illegal mining through aggressive enforcement and community engagement, resulting in several arrests and the formation of 250 artisanal mining cooperatives. He expressed future plans for a multi-agency Mining Marshals squad, utilising advanced technologies for site monitoring. Furthermore, a Centre of Excellence will be created within the Ministry, leveraging data analytics and AI to improve decision-making and operational efficiency in mining, significantly transforming resource governance. President Bola Tinubu, represented by Uche Nnaji, praised the reforms, stating they align with Nigeria’s economic growth strategy and the Renewed Hope Agenda, and affirmed government support for responsible mining practices. The focus will be on establishing Nigeria as a pioneering nation in mining technology, ensuring sustainable and efficient mining operations.

Nigeria’s mining sector has faced challenges such as illegal mining and lack of structure. The current administration aims to revitalise this sector through strategic reforms. By establishing a corporate entity for the mining sector, enforcing regulations, and encouraging formalisation of artisanal mining, the government seeks to enhance miner safety and attract investment. The introduction of advanced technologies and a multifaceted monitoring approach aims to reform and modernise mining operations, ultimately positioning Nigeria as a significant player in the global mining industry.

The Nigerian government’s reforms are set to revitalise the mining industry, focusing on enhanced regulations, illegal mining crackdown, and the establishment of a corporate entity to facilitate international partnerships. With technology and data-driven decision-making, Nigeria aims to transform its mineral resources management, making it a global mining hub and ensuring sustainable practices within the sector.

Original Source: www.zawya.com

The post Nigeria’s Reforms Aim to Transform Mining Sector into a Global Leader 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 Federal Government of Nigeria is making significant investments in technology and capacity building to transform the nation’s mining sector. Dr Mary Ogbe, Permanent Secretary of the Ministry of Solid Minerals Development, highlighted these efforts at the ninth Nigeria Mining Week Pre-conference workshop in Abuja, where she presented a paper on the legal and regulatory framework for mineral exploration. The use of modern technology is seen as vital for attracting major investors and enhancing local expertise within the sector. Dr Ogbe affirmed that the government’s focus on human capital development would not only boost productivity but also establish Nigeria as a centre of mining expertise. She emphasised the importance of transparency, sustainability, and local empowerment within the mining industry to foster national development. Collaboration among stakeholders is essential to unlock the sector’s full potential. Further insights were provided by Dr Esther Udo, Director of Investments Promotion and Mineral Trade, who stressed empowering mineral title holders as crucial partners in attracting investors. Udo outlined strategies including creating dialogue platforms and driving policy reforms to enhance clarity and investment prospects. Additionally, Mrs Aisha Rimi from the Nigeria Investment Promotion Commission presented measures aimed at enhancing investment in the solid minerals sector, such as tax holidays and improved geological knowledge. The overarching theme of the mining week focuses on building a resilient mining sector to support Nigeria’s economic growth. Organised by the Miners Association of Nigeria and the Ministry of Solid Minerals Development, this event aims to solidify the mining sector as a cornerstone of Nigeria’s economy.

The Nigerian government is actively working to improve the mining sector through technology and stakeholder collaboration. The ministry responsible for solid minerals development is focused on creating an environment that attracts investment while enhancing local expertise and capacity. Recent workshops, including the Nigeria Mining Week, serve as platforms for discussing regulations, policies, and strategies to boost the mining industry.

In conclusion, Nigeria’s efforts to revitalise its mining sector through technological advancements and strategic collaborations highlight a commitment to sustainable growth. By prioritising human capital and empowering key stakeholders, the government aims to strengthen the industry’s role in national development and attract significant foreign investment.

Original Source: nannews.ng

The post Nigeria Prioritises Technology Investment to Enhance Mining Sector 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.

Mikano Motors LHCV, a division of Mikano International, will showcase Lovol Heavy Industry Group’s products at Nigeria Mining Week 2024, taking place from November 18 to 20 at the Abuja Continental Hotel. Arab Gazi, GM of Mikano Motors LHCV, highlighted the company’s commitment to providing innovative equipment for the mining sector. Lovol’s diverse product range, including excavators and dump trucks, is tailored to meet the rigorous demands of mining professionals in Nigeria. The collaboration aims to leverage Mikano’s market knowledge and enhance productivity through dependable machinery. The event, organised by the Miners Association of Nigeria in partnership with PwC Nigeria and Vuka Group, will gather key players from the mining and construction industries to discuss the latest technologies shaping Nigeria’s extractive sectors. Hosted by the Ministry of Solid Minerals Development, it aims to engage industry professionals and government officials.

Mikano Motors LHCV, a prominent player in the light and heavy-duty construction vehicle sector, plays a crucial role in enhancing Nigeria’s mining capabilities. With Lovol Heavy Industry Group as its partner, Mikano focuses on delivering advanced and reliable machinery tailored for the rigorous demands of the mining and construction sectors. Nigeria Mining Week is a vital event that brings together stakeholders to explore innovations and address challenges in the extractive industries, with an emphasis on collaboration and technological advancement.

Mikano Motors LHCV will proudly showcase Lovol’s heavy equipment at Nigeria Mining Week 2024, demonstrating a commitment to enhancing the mining sector’s productivity with reliable machinery. The event serves as a platform for industry leaders and professionals to converge, focusing on new technologies and solutions for Nigeria’s mining landscape. This collaboration between Mikano and Lovol is designed to meet the evolving needs of mining operations across the country.

Original Source: dailytrust.com

The post Mikano Motors to Showcase Lovol Equipment at Nigeria Mining Week 2024 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.