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The National Bureau of Statistics, NBS, has said that the country’s mineral production rose by 39 per cent to 89.48 million tons in 2021 from 64.29 million in 2020.
In its ‘Mineral Production Statistics Report’ for 2021 NBS said Ogun state recorded the highest production with 32.04 million tons during the period. The report stated: “The aggregate production of mineral products in Nigeria in 2021 grew by 39.19 per cent from 64.29 million tons recorded in 2020 to 89.48 million tons in 2021, indicating an improvement in production. More details at: https://www.vanguardngr.com/2022/08/nigerias-mineral-production-rises-39-to-89-5m-tons
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There are indications that investors may begin to jostle for Nigeria’s over 20 million metric tons of barite reserves. Already, sources close to the development said the Federal Government had found an investor for the country’s over 20mn metric tons of barites reserves. According to findings, the Federal Government is currently working with TotalEnergies to invest in mining the country’s barites reserves.
More details at: https://punchng.com/investors-may-jostle-for-nigerias-barite-reserves/ The federal government is currently holding discussions with some banks, including the World Bank, on how to embark on the rehabilitation of four of its major seaports.
The banks that are being considered are the World Bank, International Finance Corporation and Afri-Exim Bank. These banks have shown significant interest in funding the rehabilitation work. The seaports being considered for repair include Apapa, and Tin-Can Island Ports in Lagos, Calabar Port in Cross River, Warri, Koko and Burutu Ports in Delta State. It was gathered that the quay walls of Tin-Can Island Port are falling off and that it is in dire need of repairs… More details through: https://dailytrust.com/four-seaports-to-undergo-major-rehabilitation https://thenationonlineng.net/world-bank-agrees-to-loan-for-lagos-portsrepairs/ https://www.newtelegraphng.com/npa-pushes-for-construction-of-462m-bonny-port/ Nigerian and Swiss firms have signed a pact to develop precious metals and artisanal gold mining value chain. On the sideline of the Investing in African Mining Indaba at Capetown, South Africa, Dukia Gold & Precious Metals Refining Co. Limited Nigeria and Philoro Global Trading AG Switzerland, signed a Working Together Agreement to deepen participation in the extractive industry as well as consolidate strategies in the development of programmes needed to exploit the expected benefits in the sector.
Minister of Mines and Steel Development, Olamilekan Adegbite, said the signature was a simple affair but one with enormous significance. Adegbite described it as a major step towards trading of gold and gold products in Nigeria… More details through: https://guardian.ng/business-services/nigeria-swiss-firm-sign-pact-on-metal-gold-mining-development/ Steelmakers are sceptical about the planned concession of Ajaokuta Steel Company Limited after Nigeria imported iron, steel, and metals valued at ($2.00bn) N837.761bn in the third and the fourth quarters of 2021.
According to the National Bureau of Statistics, Africa’s most populous nation brought in basic metals, iron, and steel products with 6000mm in width, rolled, painted, varnished, and coated with plastics within the six-month period. The total value of basic metal products imported within the two quarters was N748.529bn, while that of iron and steel was N88.232bn… More details through: https://punchng.com/after-spending-over-8bn-on-ajaokuta-nigeria-imports-n837bn-steel/ THE Federal Executive Council on Wednesday approved the engagement of transaction advisors for consultancy services for the concession of Ajaokuta Steel Company Limited and the National Iron Ore Mining Complex in Itakpe, Kogi State.
FEC also approved contracts worth N10.48bn and $27.09m respectively for the Federal Ministry of Power, for the purchase of several transmission equipment to stabilise power supply nationwide. The Minister of Information and Culture, Lai Mohammed, disclosed this to State House correspondents shortly after Wednesday’s hybrid FEC meeting Presided over by the President, Major General Muhammadu Buhari (retd.), at the council chambers of the State House, Abuja… More details through: https://punchng.com/consultant-to-get-n853m-for-ajaokuta-steel-firms-concessions-fg/ The Federal Government says its bitumen reserve of 42.74 billion metric tonnes will soon undergo concession to solve over- reliance on imported bitumen for domestic road construction.
Mr Olamilekan Adegbite, the Minister of Mines and Steel Development, made this known while briefing newsmen on the concession of delineated bitumen blocks on Monday in Abuja. Adegbite said that the concession of the bitumen became imperative as Nigeria ranks sixth in the world in terms of reserve size, but still depends on importation for the construction of its roads among others… More details through: https://www.sunnewsonline.com/fg-to-concession-42-74b-metric-tonnes-bitumen-minister/ https://guardian.ng/business-services/local-production-of-42-7-billion-mt-bitumen-deposit-begins/ https://www.premiumtimesng.com/news/headlines/526009-nigeria-to-grant-bitumen-concessions-sets-date-for-invitation-of-bids.html The mining and quarrying sector recorded a total contribution of $13bn (N5.37tn) to the Gross Domestic Product in 2021, according to the National Bureau of Statistics.
This was according to the data obtained from the Gross Domestic Product for the year under review. The N5.37tn was, however, a decline when compared to the N5.82tn recorded in 2020… More details through: https://punchng.com/mining-quarrying-sector-contributed-n5-37tn-to-gdp-in-2021/ There are indications that the Federal Government is set to attract local and foreign investors into the solid minerals sector of the economy. This, it was learnt, is in order to be able to increase the sector’s contributions to the country’s Gross Domestic Product ( GDP) from 0.1 per cent to five per cent by 2015.
This is as government, through the Ministry of Mines and and Steel Development, continue to shop for more investors in Africa and Europe, among others, in recent times… More details through: https://www.newtelegraphng.com/solid-minerals-fg-eyes-5-gdp-growth-by-2025/ The federal government has said it will build six solid minerals processing plants in the six geo-political zones of the country.
The Minister of State for Mines and Steel Development, Uchechukwu Sampson Ogah, disclosed this yesterday during a courtesy call on Governor Godwin Obaseki in Benin City. He said: “The president gave us the mandate to develop key solid minerals which are coal, bitumen, limestone, iron ore, gold and zinc among others… More details through: https://dailytrust.com/fg-to-build-6-solid-minerals-processing-plants |
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