The growing global demand for these Natural resources, particularly in the fields of technology and renewable energy, has important geopolitical ramifications for Nigeria due to its rich mineral endowment. Minerals’ Strategic Importance Although Nigeria’s economy depends heavily on minerals, their geopolitical significance is worldwide. Lithium and other resources are in great demand due to the
We’ll be showcasing African and Nigerian mining operations in this series that have overcome the challenges associated with mining in Nigeria. Nigerian mining has faced difficulties due to a complicated legal system and regulatory structure. The industry’s expansion has been impeded by investors due to inconsistent policies, ambiguous land tenure systems, and conflicting responsibilities between
The industry has been greatly impacted by the Nigerian Minerals and Mining Act of 2007, which is the cornerstone of the nation’s mining regulatory system. It has definitely encouraged investment and economic progress, but it hasn’t been without difficulties and controversy. The Act’s success in luring foreign direct investment is one of its noteworthy accomplishments.
Notable progress has been made in Nigeria’s efforts to revive its mining industry. Thor Explorations, a Canadian business, is working to develop a 535,000 oz resource and has the potential to be a major mining player in Nigeria. As exploration and new discoveries in the region ramp up, unlocking the potential of the projects will
Nigeria, endowed with abundant mineral resources, holds significant promise in the gold mining sector. With substantial gold reserves yet to be fully exploited, the country has the potential to become a major gold producer in Africa. The government has recognized this potential and has implemented policies to encourage investment in the mining industry. Incentives such
Small-scale gold mining plays a crucial role in the livelihoods of many Nigerians, particularly in rural areas. Despite its contribution to the economy, the sector faces numerous challenges, including limited access to finance, technology, and formal markets. These constraints hinder the growth and development of small-scale miners. To unlock the potential of small-scale gold mining,
According a 2023 report Despite several obstacles, the Nigerian gold mining sector, also known as “the Industry,” has grown significantly in recent years. Nigeria has a lengthy history of gold mining that dates back to the pre-colonial period. But it wasn’t until 2009 that the government started to take meaningful action to advance the industry.
The Nasarawa State House of Assembly has passed a new bill aimed at regulating mining activities across the state, with a particular focus on controlling the issuance of land consent and community agreements granted to mining companies. The bill, passed during Tuesday’s plenary session, was announced by the Speaker of the House, Danladi Jatau, who
The International Seabed Authority (ISA) has strongly criticised US President Donald Trump over an executive order aimed at fast-tracking deep-sea mining beyond American territorial waters. Following the order, signed last week, US-based firm The Metals Company filed an application to begin seabed mining in international waters. However, ISA Secretary-General Leticia Reis de Carvalho condemned the
France has strongly criticised the United States over President Donald Trump’s recent executive order to fast-track deep-sea mining operations in international waters. The order, which seeks to bypass international regulatory frameworks, has raised concerns about the environmental impact of mining for mineral-rich nodules on the ocean floor. According to France’s ambassador for the oceans, Olivier