Ninth Nigeria Mining Week - NEWS AGENCY OF NIGERIA

Muhyideen Jimoh
Nov, Sat, 2024

NMCO decries lack of capacity among mining title holders

133 total views today

By Martha Agas

The Nigeria Mining Cadastre Office (NMCO) has expressed concerns that some mining title holders, who possess multiple cadastral units, lack the capacity to operate them.

This was disclosed by the Director General of NMCO, Dr Obadiah Nkom, at a presentation at the ninth Nigeria Mining Week in Abuja.

According to Nkom, the lack of capacity among some mining title holders was affecting the entry of genuine investors into the sector.

He noted that some small-scale operators have acquired titles that were beyond their capacity to operate.

He said to address this issue; the NMCO introduced a new mining regime in July, aimed at sanitising the sector and ensuring that mining titles are allocated to capable operators.

Nkom said the regime operated on the principle of “first come, first served” and “use it or lose it.”

Nkom stated that the new regime was yielding positive results, with an increase in the number of investors in the sector and the revocation of licenses that were not being used.

He emphasised that the NMCO plays a crucial role in ensuring transparency, efficiency, and compliance in the administration of mineral rights.

“The NMCO is tasked with managing Nigeria’s mineral resources responsibly, attracting investments, and fostering economic growth while protecting the environment.

“By aligning its operations with international standards and national priorities, the NMCO is positioning Nigeria’s mining sector as a cornerstone of the nation’s economic diversification agenda.”

The News Agency of Nigeria (NAN) reports that the theme for the Mining Week is ‘From the Inside Out: Building the Mining Sector to be the Cornerstone of the Economy’.(NAN)(www.nannews.ng)

Edited by Abiemwense Moru

Muhyideen Jimoh
Nov, Thu, 2024

General News

FG addressing environmental degradation caused by mining – minister

164 total views today

By Martha Agas

The Minister of Solid Minerals Development, Dr Dele Alake, has said that the ministry is addressing the fears of states about environmental degradation by ensuring that mining companies comply with stipulated standards.

Alake stated this at the closing of the ninth Nigeria Mining Week on Wednesday in Abuja.

The minister stated that there were departments responsible for overseeing the operations of the operators.

He said that the departments have the veto to make sure that the operators comply with environmental standards and regulations.

Alake added that the move was aimed at addressing reports of subnational interference involving overregulation of the sector and multiple taxes imposed by state governments, among other issues.

“This issue came up at the chief executives roundtable on Tuesday. We have been engaging the sub-national authorities, which are not necessarily states alone but local governments as well.

“Some local governments also claim ownership of the land and then get into dispute with operators, so I have been engaging with these governments,” he explained.

He said that, in addition to the move, he encouraged state governments to apply for mining licenses to give them a sense of belonging and participation.

According to the minister, findings reveal that sub-nationals have grievances about possessing mineral resources in their areas but they do not have access to them.

He said that the move was easing tensions in states, with infractions by mining companies being reported to the ministry for appropriate action.

The minister urged mining stakeholders to think outside the box and introduce innovations and initiatives to address their challenges, stating that concerted efforts were required to develop the sector.

Alake further said that during engagements with chief executive officers of mining companies, a suggestion was made for the government to establish a solid minerals bank.

“I told them why don`t you think outside the box, why don`t you bend a little bit from a conventional perspective, and why can`t the operators come together and establish their own bank that will service themselves?

“If you wait for government to establish the bank, automatically government will control it, and it will now be subject to political influence, and the structure may not endure beyond the government that established it,“ he said.

He expressed confidence that Mining Week stimulated intellectual engagements, the exchange of ideas, and provided a platform to explore opportunities aimed at developing the sector.

The News Agency of Nigeria (NAN) reports that the theme for the mining week is ‘From the Inside Out: Building the Mining Sector to be the Cornerstone of the Economy.’ (NAN)(www.nannews.ng)

Edited by Peter Amine

Muhyideen Jimoh
Nov, Tue, 2024

Economy/Business

We are leveraging on artificial intelligence to reposition mining – President Tinubu

188 total views today

By Martha Agas

President Bola Tinubu says that his administration is leveraging advanced technology in mining operations as part of efforts to reposition the sector.

President Tinubu stated this while declaring open the ninth Nigeria Mining Week on Tuesday in Abuja.

“Our administration is leveraging on advanced technology or artificial intelligence, remote sensing, and data analytics to revolutionise exploration, extraction, and processing,” he said.

Represented by the Minister of Innovation, Science, and Technology, Chief Uche Nnaji, he said that in the rapidly evolving world, technological innovation was essential to remain competitive on the global stage.

The president stated that his ‘Renewed Hope Agenda’ administration was committed to driving a mining sector that serves as a global model of innovation, resilience, and sustainable development.

Tinubu further said that the mining sector was being revamped through reforms to adapt to the changing landscape and strengthen the local economy.

“These reforms underscore our commitment to fair revenue distribution, environmental sustainability, and social economic welfare of our communities, ensuring that the wealth of Nigeria`s resources benefits every citizen.

According to the president, through strategic global partnerships, Nigeria was unlocking new markets and showcasing its mineral wealth on the international scene.

He said that the summit provides an opportunity for stakeholders to assess the mining sector and chart a course for its transformation.

“We gather not just to convene but to chart a transformative path for Nigeria`s mining industry, an industry brimming with the potential to fuel our economy and secure a future of shared prosperity,” he said.

In his remarks, the Minister of Solid Minerals Development, Dr Dele Alake, said that the Tinubu administration has introduced policies and regulations aimed at addressing the gaps in the solid minerals sector.

Alake stated that the policies include a value addition policy requiring investors to present plans for adding value to minerals before exporting them from the country.

He pointed out that a dual-pronged approach was adopted to address illegal mining and secure mining sites across the country, utilising both coercive and persuasive measures.

He explained that, through the coercive method, a special security unit was established, deploying mining marshals to secure sites, adding that the unit has arrested 300 illegal miners.

“We are also introducing satellite technology monitoring to aid monitoring, “ he said.

He said a new regime of mining rates was introduced to sanitise the sector and create opportunities for serious investors, who have been entering the sector in droves.

He expressed confidence that the mining industry would continue to grow as a cornerstone of Nigeria`s economy with the collaboration of all stakeholders.

The minister expressed hope that the exchange of ideas at the conference would help ensure the country’s mineral wealth generates sustainable economic growth.

The News Agency of Nigeria (NAN) reports that the theme for the mining week is ‘From the Inside Out: Building the Mining Sector to be the Cornerstone of the Economy’. (NAN) (www.nannews.ng)

Edited by Peter Amine