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Following the visit of President Muhammadu Buhari to Dubai, the United Arab Emirates (UAE) recently, Nigeria and Dubai have agreed to deepen their cooperation, especially as it concerns trade in gold.
At a subsequent meeting between Nigeria’s Minister of State for Mines and Steel Development, Abubakar Bawa Bwari, and the UAE Ministry of Economy’s Abdullah Al Saleh on the sideline of the Dubai Annual Investment Meeting, the ministers resolved to forge a closer cooperation considering the quantum of gold traded between both countries… More details through: https://www.dailytrust.com.ng/nigeria-uae-to-scale-up-gold-trade.html
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Nigeria produced a total of 55.85 million tonnes of solid minerals in the 2018 fiscal year, data released by the National Bureau of Statistics have revealed. The NBS, in its mining and quarrying data report, which was released on Thursday, said Ogun State produced the highest tonnes of solid minerals among the 36 states and the Federal Capital Territory.
The report stated that Ogun State produced 16.49 million tonnes of solid minerals… More details through: https://punchng.com/nigeria-produces-55-85-million-tons-of-solid-minerals-nbs/ Nigeria, which has struggled but failed to produce steel locally for about 40 years, may be inching its way closer to realising this dream, as a local company has announced its plans to invest into the industry…
More details through: https://businessday.ng/real-sector/article/nigerias-hope-to-produce-steel-brightens-as-anrml-set-to-invest-600m-in-local-plant/ The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), and stakeholders in the mining industry have sought increased investments in Nigeria’s mining sector.
Indeed, the stakeholders lamented that despite the huge potential of the sector, it is yet to be given the attention it deserves to change the narrative of the Nigerian economy, adding that the volume of iron ore alone can generate over $60 billion on yearly basis if well managed… More details through: https://guardian.ng/business-services/nigerias-iron-ore-can-generate-60-billion-yearly/ Nigeria iron ore reserve stands at 2,542 million tonnes, the Minister of State for Mines and Steel Development Abubakar Bwari has disclosed. He said that this is at an average quality of 36 percent iron content. Bwari stated that Over 95 percent of the current steel production in Nigeria is from scrap metal and the government is focused on developing the upstream mining sector…
More details through: http://thenationonlineng.net/nigerian-ore-reserve-hits-2542-million-tonnes/ The Federal Government issued more than 7,000 licenses in the last eight years out of which only 4,500 subsist, the Nigerian Mining Cadastre Office has said.
The outgoing Director-General of NMCO, Mr Mohammed Amate, disclosed this at an interview with journalists during an event to handover to a newly appointed Director-General in Abuja on Friday. Amate also advised the Federal Government to pay attention to the development of minerals that would occupy the attention of the global economy in the nearest future as the world transits from fossil to electric vehicles… More details through: https://punchng.com/fg-issues-7000-mining-licences-in-eight-years-revokes-2500/ A Nigerian firm, Kian Smith Trade & Co Limited, on Thursday, broke ground on the nation’s first gold refinery, saying the project would be completed by the end of the first half of next year. It said the refinery would start with a production capacity of three tonnes per month of 99.99 per cent gold and one ton per month production of 99.99 per cent silver…
More details through: https://punchng.com/nigerias-first-gold-refinery-to-be-completed-june-2019/ Foreign and local investors are acquiring new mining sites in Nigeria to tap from a cash-spinning sector that has remained largely under-utilised and under the radar since the crude oil boom. “Investments, mainly from foreign companies, are taking place in the sector right now…
More details through: https://www.businessdayonline.com/exclusives/article/investors-eye-nigeria-solid-minerals-fortune-new-mining-rush/ A $600 million fresh foreign direct investment (FDI) is on its way to Nigeria through an integrated iron ore mining processing and steel production. The Minister of Finance, Mrs. Zainab Shamsuna Ahmed, disclosed this during a meeting with the firm, African Natural Resources and Mines Limited, in Kagarko Local Government Area of Kaduna State, led by Mr Raj Gupta.
More details through: https://guardian.ng/business-services/firm-seals-600m-iron-ore-steel-production-investment-pact/ Abubakar Bwari, the Minister of State, Mines and Steel Development, has met with representatives from 93 Nations to showcase half a dozen strategic minerals available in Nigeria. Ishaku Kigbu, Special Assistant to the Minister of State, announced this in a statement on Sunday in Abuja…
More details through: https://www.premiumtimesng.com/news/more-news/298629-nigeria-showcases-available-strategic-minerals-to-93-countries.html |
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