Speed up revitalisation of Ajaokuta, ALSCON, Mining Council urges FG

The Federal Government has been urged to speed up the revitalisation of the Ajaokuta Steel Company Ltd and Aluminium Smelting Company of Nigeria (ALSCON), as well as revive several moribund steel plants scattered across the country in a bid to grow the country’s steel sector and promote private sector participation in Steel development. The National …

Investors Pressing for Nigeria’s Coal, Nickel, Gold, Zinc, Bitumen

.… Fayemi confirms upbeat investors seeking further geological information Foreign investors are showing increasing interest in Nigeria’s mineral deposits and preliminary discussions are going on with the government representatives, particularly on key mineral deposits including, gold, coal, lead, bitumen, iron ore, barite and limestone. “Comet  Minerals Limited, the Australian firm operating in Nigeria, discovered nickel …

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Experts see Mining Sector Contribution to GDP rise 7% within 5years on FG’s Intervention

Key experts in Nigeria’s Mining Sector have expressed optimism that with the various interventions by the Federal Government in formalizing the activities of artisanal and small-scale miners in the country, the poorly rated sector is showing huge potential to spike mining contribution to the GDP to about 7 percent in the coming years.   Some …

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How Mining Council will Increase Growth in Mining Sector – Fayemi

The Minister of Mines and Steel Development, Dr Kayode Fayemi, has said that the newly inaugurated National Council on Mining and Mineral Resources Development (NCMMRD), would help accelerate growth in the sector, through adequate oversight and guidance as well as strategic input from states and host communities. Speaking at the inaugural meeting of the council …

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Large Percentage of Miners engage in Illegal Business – RMAFC

Shettima Abba-Gana, Acting Chairman, Revenue Mobilisation, Allocation and Fiscal Commission, says adequate funding of the commission will translate to increase in Federal Government’s revenue generation profile. Abba-Gana said this while speaking with the News Agency of Nigeria on Tuesday in Abuja. He disclosed that the commission currently lacked modern working equipment and personnel for effective …

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Sovereign risk linked to mining investment in Africa reduced: PwC partner

The political environment in Africa has stabilised meaning sovereign risk linked to mining investment in the continent has reduced. This view on Africa is that of PwC partner, Ben Gargett, one of Australia’s leading experts on African resources sector taxation laws. Speaking on the second day of the three day Paydirt 2017 Africa Down Under …

FG urged to Enforce Mining Regulations

….as Stakeholders proffer solution at Mining Council Stakeholders in the mining sector on Tuesday kick started discussion on the future of the industry, with a call on the Federal Government to focus more on strengthening sector governance in order to fully realise its economic diversification plan through mining. Strengthening the sector governance, according to them, …

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Gold Prices Skyrocket On Increased Risk

Gold prices have been skyrocketing over the past 24 hours as the dollar crashes across the board at the same time. The prices have moved through the 1340 region and now trade comfortably above the 1350 region as of this writing and it looks as though the prices would continue to stay strong going into …

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Press briefing by Minister of State

Speech by   Honourable Abubakar Bawa Bwari Minister of State for Mines and Steel Development   On the theme “ Enhancing Mineral Resource Governance Towards Economic Growth and Diversification”   at the MEDIA BRIEFING FOR THE MAIDEN EDITION OF THE NATIONAL COUNCIL ON MINING AND MINERAL RESOURCE DEVELOPMENT     Abuja, Nigeria September 7th 2017. …

FG restates support for Investors in Mining

…wants community engagement done through state governments …..as Nigeria’s nickel discovery forms major highlights at Australia conference The Federal Government has restated its support for the success of the nickel project as well as other genuine investors in the mining sector as a way of actualising its economic diversification plan. It however urged investors in …