Minister of Solid Minerals, Dr Kayode Fayemi, has reassured that the Federal Government will revoke the entire dormant license in the Country before the March 1 deadline.
Fayemi had earlier in the month said the Federal Government has taken the mining sector seriously and plans to use the sector to boast the Nations revenue and ease the pressure it is facing from the drop of oil price.
The former Governor of Ekiti State also said that the Mining Act 2007 have provided the ministry with all the arsenal it needs to prosecute the illegal miners and saboteurs in the sector.
“We want them to form a cooperative to enable us to give them a structure that the ministry can work with and anybody that refuses to be part of the structure will face the law.
“We are not going to allow illegal mining to continue; we will bring it to an end; we are not depriving them, but we want to meet up with the Mining Act of 2007,” he said.
“Gold is being smuggled out of the country to other countries without tax, record and revenue to show on a daily basis from the mineral that we are endowed with; this will no longer be acceptable.
Fayemi further hinted that the ministry is working around the clock to source for the fund that will be used to acquire equipment facilities for the overall management of the mining sector of the economy.
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