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.

At the Mines & Money Conference in the UK, Nigeria’s Minister of Solid Minerals Development, Dr Dele Alake, invited global investors to explore the nation’s rich mineral resources through its digital mining platforms. He highlighted the Nigerian Mineral Decision Support System (NMRDSS), the Electronic Mining Cadastral (EMC+), and the National Geo-Data Centre as essential tools for accessing vital geoscientific data and facilitating transparent transactions. Alake assured attendees of President Tinubu’s commitment to enhancing geological data levels, advocating for partnerships to unlock Nigeria’s mineral potential, especially in critical areas like lithium and rare earth minerals, crucial for sustainable development.

Nigeria boasts a wealth of untapped mineral resources, and the government is keen to attract international investment to develop this sector. The Mines & Money Conference serves as a platform for countries to present their mining opportunities, strategies, and technologies to a global audience. By leveraging advanced digital platforms, Nigeria aims to modernise its mining industry, promote transparency, and facilitate easier access to geological data. This strategy aligns with the global shift towards sustainable mining practices, particularly in the production of critical minerals needed for green technologies.

Nigeria’s proactive approach in promoting its mining sector through digital innovation and enhanced data access is a significant step towards attracting global investment. The emphasis on transparency and sustainability is expected to position the country as a key player in the global mining landscape, particularly in the critical minerals sector essential for renewable energy solutions.

Original Source: tribuneonlineng.com

The post Nigeria Invites Global Investment in Mining at UK Conference first appeared on Nigerian Mining News.

The Federal Government of Nigeria and France have entered an agreement aimed at developing joint projects to enhance the value chain of critical minerals in the solid minerals sector. These minerals, including copper, lithium, nickel, cobalt, and rare earth elements, are vital for clean energy technologies. This collaboration is expected to lead to the remediation of over 2,000 abandoned mining pits in Nigeria, significantly improving safety following recent tragedies involving pit collapses that claimed 65 lives.

The Memorandum of Understanding (MoU) was signed during President Bola Tinubu’s official visit to France. It encompasses cooperation in research, training, and student exchanges between France and Nigeria to foster knowledge transfer. Sustainable mining practices will be a priority, with initiatives designed to minimise environmental impacts, including reduced carbon emissions and water consumption.

Furthermore, the partnership involves establishing joint extraction and processing projects, supported by both public and private sector funding. The Nigerian Minister of Solid Minerals Development, Dr Dele Alake, highlighted that this agreement aligns with the Tinubu administration’s goals to enhance the international competitiveness of the mining sector, attracting French investments.

This agreement between Nigeria and France is strategic, focusing on the critical minerals essential for clean energy, such as lithium and cobalt. With the increasing global emphasis on sustainability in mining practices, the partnership is poised to address the pressing issues of environmental degradation and safety in mining operations. Recent mining disasters in Nigeria highlight the urgent need for enhanced safety measures and community-focused initiatives, making this agreement particularly timely and significant for both nations.

The collaboration between Nigeria and France marks a crucial step towards advancing the solid minerals sector while ensuring sustainable practices and safety improvements. The MoU paves the way for enhanced research, training, and investments, contributing to the local economy and addressing critical environmental concerns. This partnership exemplifies international cooperation aimed at fostering innovation and sustainability in the mining industry.

Original Source: punchng.com

The post Nigeria and France Collaborate on Sustainable Mining Initiatives first appeared on Nigerian Mining News.

Nigeria is enhancing its appeal to global investors through digital mining platforms, as announced by Dr. Dele Alake, Minister of Solid Minerals Development, at the Mines & Money Conference in the UK. He highlighted the advantages of Nigeria’s geo-data platforms, including the Nigerian Mineral Decision Support System and the Electronic Mining Cadastral, which provide essential data for mining ventures. By adopting these technologies, Nigeria aims to foster transparency and efficiency in the mineral industry. Alake assured mining executives that the government is committed to investing in geological research, which will support the mining sector’s growth and sustainability efforts, particularly in the context of critical minerals essential for a green economy. The Minister also emphasized the importance of value addition in mining and urged collaboration with major mining firms to unlock Nigeria’s potential.

The ongoing global interest in sustainable mineral extraction has prompted Nigeria to leverage digital platforms for better accessibility to its mineral resources. With an abundance of critical minerals such as lithium and rare earth elements, Nigeria seeks to position itself as a leader in the mining sector. The introduction of digital technologies aims to streamline investment processes in a region historically rich in mineral wealth but often hindered by data scarcity and administrative inefficiencies.

In conclusion, Nigeria is actively promoting its mineral resources to global investors through innovative digital platforms. The government’s commitment to enhancing geological data accessibility and fostering international collaboration is poised to attract significant investment in the mining sector, supporting economic diversification and sustainability initiatives.

Original Source: tribuneonlineng.com

The post Nigeria Attracts Global Mining Investment with Digital Platforms 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.

Dr. Dele Alake, Nigeria’s Minister of Solid Minerals Development, urged mining CEOs to initiate the establishment of mining development banks to secure long-term financing essential for the sector’s sustainable growth. Speaking at a CEO Roundtable during the 2024 Nigeria Mining Week, he encouraged private-sector leadership to ensure independence from government influence. Alake reassured executives that the federal government is actively removing obstacles to facilitate better business conditions and promote investments in mining.

In addressing challenges of state-level interference, Alake asserted that such entities lack constitutional authority over mining policies, as the sector is exclusively managed at the federal level. He highlighted ongoing dialogues with state governments to encourage constructive involvement in mining, allowing states to apply for licenses and operate as Limited Liability Companies. This initiative aims to address concerns about local resource management and has seen several states successfully engage in the licensing process.

The Minister announced future plans to create a mining infrastructure corridor to enhance the investment climate and indicated that inter-ministerial collaboration is being established to support this project. He called for continued cooperation from mining executives on ongoing reforms, particularly regarding the review of the sector’s rates regime.

The article discusses the call from the Minister of Solid Minerals Development, Dr. Dele Alake, for mining CEOs to lead the establishment of mining development banks in Nigeria. This initiative aims to facilitate sustainable long-term financing for the mining sector, which is facing challenges like state-level interference and bureaucracy. Alake’s emphasis on private-sector involvement and the federal government’s reforms shows a clear intent to improve the mining landscape in Nigeria.

In summary, Dr. Dele Alake has urged mining CEOs to spearhead the formation of mining development banks as a foundation for securing long-term financing. He reassured stakeholders that governmental reforms are focused on enhancing the mining sector’s operational environment. Alake’s plans aim to ensure that the industry evolves sustainably while addressing state-level interferences effectively and encouraging private sector leadership.

Original Source: tribuneonlineng.com

The post Alake Urges Mining CEOs to Establish Development Banks for Sustainable Financing 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.

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.

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

The post Nigeria’s Lithium Sector Boosted by E-Marketplace Startup Sabi first appeared on Nigerian Mining News.

In an ongoing crackdown on illegal mining, the Nigerian federal government has prosecuted several individuals arrested in Kogi and Ondo states. This operation, known as “Operation Hayakin Kogo,” led to the apprehension of two Chinese nationals and a Nigerian in Kogi for breaching mining regulations. Additionally, four suspects were caught in Ondo during a raid on an illegal gold mining site in a protected area. All suspects have been charged in the Federal High Court, Abuja, as the government intensifies efforts to sanitise the mining sector.

Illegal mining has become a significant issue in Nigeria, affecting the environment and economic growth. The federal government, under the guidance of the Minister of Solid Minerals Development, Dr. Dele Alake, aims to reform the sector through the establishment of the Mining Marshals, a trained group from the NSCDC dedicated to enforcing mining laws. This initiative is part of a multi-faceted strategy focusing on sustainability, legality, and the enhancement of monitoring capabilities in the mining sector.

The federal government’s commitment to combatting illegal mining is exemplified by ongoing legal actions against offenders in Kogi and Ondo states. With the increased enforcement capabilities of the Mining Marshals and a clear message for compliance with mining laws, the government aims to protect its mineral resources and ensure that mining contributes positively to the economy.

Original Source: nta.ng

The post Nigerian Government Prosecutes Illegal Miners in Kogi and Ondo States first appeared on Nigerian Mining News.