Prospective Investors without Value Addition will not get Mining License, Minister warns
The Minister of Solid Minerals Development, Dele Alake has warned that no Mining License would be issued to prospective Investors without requisite plans for value addition on Minerals.
Alake gave the warning in a Statement by his Special Assistant on Media, Segun Tomori on Tuesday.
He said the Federal Government had resolved to ensure compliance before permitting Investors to operate.
He said that his Seven-Point Agenda for the Ministry had placed the Mining Sector on Global front burner since assuming Office, which had generated renewed interest from the International Community in Nigeria’s Mineral Resources.
He said the support of the Executive and the Legislature had enabled the Ministry to showcase the Solid Minerals Sector Globally, resulting in his election as the Chairman of the Africa Minerals Strategy Group (AMSG) at the Future Minerals Forum in Riyadh, Saudi Arabia.
According to him, with the Pact that led to the formation of the AMSG, there is now unity of purpose on the African Continent regarding the issue of Local Value Addition.
“We are no longer going to allow anybody or license any Company that wants to go into the Mineral Sector without giving us a Plan for Local Value Addition, like Processing, Refining and this has a multiplier effect on the Economy.
“It instantly generates Employment rather than a few People carting away Lithium, Gold, and the likes to other Countries to sell.
“These Minerals must now be processed in Nigeria, creating more value and beneficiation for Local Communities where they are sourced, ” he said.
The Minister had earlier received Members of the House Committee on Solid Minerals who were on Oversight Visit to his Office.
The Minister commended the Lawmakers for their support in repositioning the Mining Sector, stressing that boosting the Economic Profile of Nigeria required joint task by both the Executive and Legislature.
He acknowledged the significant contribution of Sub-Nationals to Mining Development, emphasising that State Chairmen of Mineral Resources and Environmental Management Committee (MIREMCO) and five Committee Members were nominated by State Governments.
Credit NAN: Texts excluding Headlines
New in Pictures
Value Addition an indispensable standard for Mining Operations, FG insists
The Minister of Solid Minerals Development, Dele Alake has declared Value Addition as the new indispensable standard for Mining Operations in the Country.
Alake made the Declaration in a Statement issued by his Special Assistant on Media, Segun Tomori, on Tuesday in Abuja.
The Minister had earlier said that the Federal Government had resolved to ensure compliance to Value Addition before permitting Investors to operate.
He said that his Seven-Point Agenda for the Ministry had placed the Mining Sector on the Global front burner since assuming Office, which had generated renewed interest from the International Community in Nigeria`s Mineral Resources.
According to the Statement, the Minister lauded a Mining Company, African Natural Resources and Mines Limited (ANRML), during an Inspection Tour in Kaduna State, for its $600m Facility dedicated to the Mining and Processing of Magnetite Iron-Ore.
He described the move as in line with the Government`s resolve for Value Addition, which is especially apt given President Bola Tinubu`s quest to develop the Solid Minerals, to boost Nigeria`s Economic Profile and to meet the Global upsurge in Energy Transition.
“The Company aligns with our Vision of Value Addition and beneficiation through its processing of Iron-Ore, and I urge other Mining Companies to take a cue from them, “ he said.
He reiterated the Government`s commitment to abstain from granting Mining Licenses to Companies that lack the necessary plans for Value Addition.
The Minister acknowledged that resilience, courage and laying a Solid Foundation were critical in contributing to the Company's success.
He added that such factors also serve as Guidelines for President Tinubu Administration in its efforts for Economic transformation.
“We have set our minds in this Administration and invariably in Nigeria to achieve success, that is why Mr President is restructuring the Economy.
“When this Company (ANRML) started seven years ago, we saw one of the Foundations through the Video Documentary, the amount of concrete that went in to erect a Foundation, just to carry a giant Edifice.
“That is what we are going through. When we get through the gestation period, the results will manifest, and it will herald prosperity,“ he said.
Credit NAN: Texts excluding Headlines
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