Nigeria Revalidates
Mining Licences
Nigeria
has re-validated mining licences to prospective investors.
Minister of Mines and Steel Development, Mrs Diezani
Alison-Maduekwe, said four hundred new licenses were issued in
line with the provision of the Minerals and Mining Act 2007.
Mrs. Alison-Maduekwe said under the Act, security of tenure of
titles has been guaranteed by law.
Modalities
She said the Act was modelled after successful mining
jurisdictions and based on international best practices.
Alison-Maduekwe said the ministry adhered to the ‘use it or lose
it’ principle in the issuance of titles to investors on a first
come, first served basis.
The minister said government decided to do it right this time by
introducing community development agreement, environmental
protection and rehabilitation measures.
She expressed government’s commitment to developing the solid
minerals sector in view of its potential.
Seun/Qasim/Yinka
