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Nigeria said its efforts to cut dependence on oil earnings reached a milestone as the country’s first industrial gold project entered production.
Thor Explorations Ltd. poured first gold from its Segilola mine in southwestern Nigeria on Friday, according to a statement. The plant, which will now ramp up over the next six weeks, is targeting output of 85,000 ounces a year, the company said… More details through: https://www.bloomberg.com/news/articles/2021-07-30/thor-explorations-hits-nigeria-s-first-commercial-gold-output
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The Ministry of Mines and Steel Development is working at ensuring that revenue accruals from Nigeria’s mining sector are properly harnessed into the Federation Account for the development and benefit of the country as it seeks to deepen collaboration with China to develop the sector.
Minister of Mines and Steel Development Olamilekan Adegbite stated this when Mr Cui Jianchun, the Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China, paid a courtesy visit to the Ministry’s Headquarters, yesterday. Adegbite, who noted that Nigeria has always enjoyed good relations with China, stated that investment by China in mining would immensely be beneficial to both countries… More details through: https://www.sunnewsonline.com/nigerias-mining-ministry-deepens-collaboration-with-china/ The bitumen belt across Ondo, Ogun, Lagos, and Edo states has over 42 billion tonnes of deposits, being the second-largest in the world and almost twice Nigeria’s oil reserves.
Vice President Yemi Osinbajo said this at the maiden edition of the virtual conference on Strategic Engagement on Sustainable Mining entitled “Resurrecting our Buried Prosperity” in Abuja last weekend. He said even farther back in 1913, gold in commercial quantities had already been found in parts of Northern Nigeria and what is now Osun State even as the country’s potential coal reserves are currently estimated to be as high as 3bn tonnes… More details through: https://dailytrust.com/nigeria-has-42bn-tonnes-of-bitumen-deposits The Nigeria Extractive Industries Transparency Initiative (NEITI) has reported that Nigeria earned $195 million (N79.96 billion) from the solid minerals sector in 2019.
The figure which represents accruals to the Federation and other subnational entities shows a 15 percent increase when compared to the N69.47bn recorded in 2018. This is contained in the 2019 audit report of the solid minerals sector released by NEITI on Monday… More details through: https://dailytrust.com/nigeria-earned-n79-96bn-from-solid-minerals-in-2019 A United States-based firm, Woolpert, has been selected to collect, process and deliver topographic mapping across more than onequarter of Nigeria, or roughly 258,000 square kilometers, under a $4.4 million contract with the Ministry of Mines and Steel Development (MMSD). The project is part of the Mineral Sector Support for Economic Diversification Project, also known as Min- Diver, and is funded by the World Bank. According to the report, Woolpert will supply the labour, materials and equipment needed to develop 340 complete topographic mapping sheets and corresponding Multinational Geospatial Co-production Programme (MGCP) data.
The firm will provide 1.5-metre processed satellite imagery, digital elevation models, ground truthing, feature extraction and topographic map data. Woolpert will also implement a streamlined MGCP mapping and cartographic finishing workflow through Esri ArcGIS Pro with Defense Mapping and Production Manager. Additionally, Woolpert has deployed a full-fledged, cloudbased enterprise geospatial data hosting platform coupled with multi-user virtual desktops through Microsoft Azure and Woolpert’s raster service, STREAM:RASTER, to allow for easily managed, cross-continental geospatial production… More details through: https://www.newtelegraphng.com/mining-u-s-firm-fg-in-4-4m-topographic-mapping-pact/ The Nigerian Content Development and Monitoring Board (NCDMB), has said it was open to discussions around investment opportunities aimed at reviving the ailing Ajaokuta Steel Company, in Kogi State.
Minister of Mines and Steel Development, Olamilekan Adegbite, had last year, hinted that the resuscitation of the Ajaokuta Steel Company and the National Iron Ore Mining Company (NIOMCO) projects will gulp about $1.45 billion (about N522 billion). Executive Secretary, NCDMB, Mr. Simbi Wabote, stated this at a media briefing on the 2021 virtual Nigeria Oil and Gas Opportunity Fair(NOGOF) holding May 25 to 26 May, with the theme ‘‘Leveraging Opportunities and Synergies for Post Pandemic Recovery of the Nigerian Oil and Gas Industry… More details through: https://www.sunnewsonline.com/ncdmb-to-invest-in-1-45bn-ajaokuta-steel-revitalisation-project/ As part of measures to grow revenue and attract investors to the mining industry, the Federal Government in collaboration with the United Nations Industrial Development Organisation on Monday unveiled a policy document on gold mining in Nigeria.
UNIDO alongside Nigeria’s ministries of environment, mines and steel development, as well as health jointly unveiled the National Action Plan for the Reduction and Eventual Elimination of Mercury Use in the Artisanal and Small-Scale Gold Mining sector in Nigeria. The parties also unveiled the National Policy on Solid Waste Management as well as National Policy on Plastic Waste Management at the event in Abuja… More details through: https://punchng.com/fg-unveils-document-on-gold-mining-to-attract-investors/ The race for critical minerals that will power clean energy technologies like electric vehicles and wind turbines is heating up and in Nigeria, where deposits of some of these minerals are, the right policy can give the country an edge…
More details through: https://businessday.ng/business-economy/article/across-nigeria-mining-sector-holds-opportunities-for-investors/ The Federal Government has called for more investment from the Organised Private Sector (OPS) to invest in Bitumen extraction in order to meet local demand and increase the nation’s volume of export.
The Minister of Science and Technology, Dr. Ogbonnaya Onu made the call while formally declaring open the 10th International Conference Series of the Nigerian Building and Road Research Institute (NBBRI) in Abuja with the theme: “Circular Economy in the Built Environment for Enhanced Performance of the Nigerian Construction Industry”. According to him, Nigeria has estimated 42bn barrels of Bitumen reserves, and that a whopping 43 industrial chemicals including heavy crude petroleum can be obtained from bitumen… More details through: https://dailytrust.com/fg-seeks-private-sector-investment-in-bitumen-extraction The Honourable Minister of Mines and Steel Development, Arch Olamilekan Adegbite recently spoke with a group of media men in Lagos, reviewing the state of operation in the mining industry now and before Covid-19 that crippled global business operations, which also made it difficult to actualise the mandate of FG on Mines and Steel Development.
The Honourable Minister, Arch Olamilekan Adegbite also spoke on post Covid-19 measures government embarked on to ensure the sector does not experience total shutdown pending when it will be conducive to operate fully. More details through: https://www.vanguardngr.com/2021/04/post-covid-19-palliative-measure-fg-builds-6-regional-mining-plants/ |
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