Site icon Nairametrics

FG grants 499 licences for buying, selling of solid minerals in Nigeria 

Dele Alake

Minister of Solid Mineral Development, Dele Alake

The Federal Government, through the Ministry of Solid Minerals Development, has approved about 499 licences for the buying and selling of solid minerals in Nigeria in 2023. 

This development was revealed by the Minister of Solid Minerals Development, Dele Alake, during his address as the keynote speaker at the BusinessDay Solid Minerals Conference in Abuja on Tuesday. 

A notable trend observed was the high demand for lithium, with 146 of the licences being allocated for its trade, surpassing other minerals such as gold (91 licenses), tin (46), and coal (32). The list also included tantalite, iron ore, kaolin, feldspar, beryl, barite, columbite, mica, and aquamarine licenses. 

He said: 

FG to hold 25% shares in new solid minerals company 

He also disclosed that the Federal Government plans to hold about 25% of the N1 billion share capital of Nigerian Solid Minerals Corporation. 

News continues after this ad

He added that the process of creating the legislation for the institution has begun. 

Alake also said that the Nigerian citizens will by public shares hold 25% and private investors can acquire up to 10% of the remaining shares. 

He said: 

He noted that the government has learnt from the pitfalls of the defunct Nigerian Mining Corporation, and will ensure that the new company operates more sustainably. 

123 mining co-operatives registered in 2023 

He further noted that the campaign against illegal mining and call on artisanal miners to form co-operatives and get government recognition has been fruitful. 

Alake disclosed there are 2,329 registered artisanal miners’ co-operatives in the country, with about 123 co-operatives registered in 2023. 

The minister said: 

Alake added that efforts are ongoing to improve the Nigerian Mining and Minerals Act 2007. 

Exit mobile version