Nigerian Mining Sector Watch
New Bill to Replace Nigerian Minerals & Mining Act, 2007 The Federal Executive Council (FEC) on 5 April 2023, approved a draft amendment of the Nigerian Minerals & Mining Act ("the Act"), 2007 - the principal legislation regulating the mining of solid minerals in Nigeria. The new Bill i.e., the Nigerian Minerals & Mining Bill 2023
Solid Mineral Development: A Panacea For The …
Nigeria's economy was largely dominated by agriculture and mining of solid minerals prior to the discovery of crude oil in 1956. The agrarian economy, characterized by the export of cash crops like palm produce, cocoa, rubber, timber, and groundnut, positioned Nigeria as a major exporter of farm produce.
Roadmap – Ministry of Solid Minerals Development
Nigeria's minerals and mining sector is still largely underdeveloped despite its glorious past and abundance of mineral resources for development, including high-value metallic minerals, industrial minerals, and energy minerals. In 2015, the sector contributed approximately 0.33% to the gross domestic product of the country.
Nigerian Mining Sector Brief
Nigeria is endowed with vast reserves of natural resources such as energy minerals like coal and lithium, metallic minerals like gold and lead-zinc and industrial minerals like limestone and barite. The country was a major exporter …
Taxation of Solid Mineral Mining in Nigeria
The 5% rate in the VAT Act would be changed to 15% for solid minerals and mining if the Nigerian National Assembly in pursuant to Section 12 of the Nigerian Constitution asked to ratify the ECOWAS Directive on the …
Solid Mineral Deposits and Mining in Nigeria:
In 2015, Nigeria's solid minerals and mining sector accounted for a paltry 0.3% of the GDP which increased slightly to about 0.5% in 2018 The sector has contribut ed only 0.02% of Nigeria's ...
News insights news
The Solid Minerals Development Fund is a Nigerian Government owned Fund established to drive and catalyze private sector-led investments in Nigeria's mining sector. The SMDF's mission is to actively pursue investments that will de-risk the Nigerian mining sector, to be the partner of choice for opportunities, and to empower the economic ...
Australia to Train Nigerian Solid Minerals Experts
Nigeria's solid minerals sector is set to benefit from a significant collaboration with Australia, as the Australian government offers specialised training to Nigerian professionals in the industry. ... The main legislation controlling Nigeria's mining industry is the Minerals and… Aisha Mohammed; October 4, 2024; Mining News; Gender ...
Nigerian Mining Sector Brief
The Nigerian Minerals and Mining Act is the principal legislation that regulates the sector. The Act vests the control, regulation and ownership of all mineral resources in the Federal Government of Nigeria (FGN). The Minerals and Mining Regulations and the National Minerals and Metals Policy also govern the sector.
LEGAL FRAMEWORK FOR SOLID MINERALS …
Republic of Nigeria 1999 (as amended), the Nigeria Minerals and Mining Act ("Minerals Act"), the Land Use Act, the Nigerian Mining Corporation Act, the Nigerian Coal Corporation Act, the Environmental Impact Assessment Act, and others are among the laws that pertain to the ownership and control of solid minerals in Nigeria. This research examines
About – Ministry of Solid Minerals Development
The MMSD is responsible for identifying the nation's solid minerals, advising government on the formulation and execution of laws and regulations guiding the various stages of prospecting, quarrying, and mining; and handling sale and consumption of solid minerals in the country, through the issuance of Permits, Licenses, Leases and Collection ...
Solid Mineral Resources
Nigeria as a nation is blessed with abundant solid mineral resources distributed fairly in all the states of the federation (Fig. 10.1; Table 10.1).According to reports by the Geological Survey of Nigeria Agency, Nigeria has some 34 known major mineral deposits distributed in locations across the country and offers considerable attraction for investors.
All you need to know about Nigeria's new mining law
Nigeria passed the 2007 law deregulating the mining of solid minerals in a bid to attract much needed private investment to develop the underperforming and neglected sector. At the same time, the outgoing government of president Olusegun Obasanjo awarded a flurry of mining leases and exploration licences to multinational mining companies who ...
Nigeria's Solid Minerals as a source of Economic
The mining and solid mineral sector of the extractive industry in Nigeria has always been a viable greenfield and is now getting the attention it deserves, having been earmarked as a key source of ... c. Nigerian Minerals and Mining Regulations 2011 (the 'Regulations')2: The Federal Ministry of Mines and Steel
Solid Mineral Deposits and Mining in Nigeria:
Mining of solid minerals in Nigeria th is a long-standing activity, starting from the late 19 century. In the first half of the 20 th century, mining of
Nigeria Mining Week
The Nigerian Ministry of Solid Minerals Development has confirmed its commitment to the Nigeria Mining Week conference and expo with its official endorsement and pledge of support for the ninth edition that returns to Abuja from 18 to 20 November 2024. ... Nigeria Mining Week is the go-to event for anyone looking to do business in the Nigerian ...
Nigerian Mineral Exchange | Home of Solid Minerals
Nigerian Mineral Exchange is your gateway platform to unlocking the vast potential of Nigeria's mineral wealth. We're the one-stop hub for everything mining in the Nigerian mining industry, connecting you to the resources and opportunities you need to thrive. Whether you're: – A seasoned miner seeking buyers or partners
Ministry of Solid Minerals Development – On the Road to …
To exploit the nation's mineral endowments in an environmentally sustainable manner and establish a vibrant minerals and metals industry for wealth creation, poverty reduction, promotion of economic growth and significant contribution to the GDP of Nigeria.
How To Start A Lucrative Mining Company In Nigeria and …
Mining has been a significant part of Nigeria and Africa's economy, providing valuable minerals and resources that have contributed to the development of various industries. In Nigeria, mining has historically played a crucial role in the growth of the country's economy, with the sector contributing 0.3% to the GDP in 2018. Africa, on the other
Mining reforms in Nigeria to drive sector growth
The NMMA deregulated the sector and established the Solid Minerals Development Fund (SMDF), which aims to expand the sector's capacity both at the formal, private sector level …
De-risking Mining Business In Nigeria Through Fiscal …
The Nigerian Minerals and Mining Act, 2007 (NMMA) and the Companies Income Tax Act (CITA) provide certain incentives for companies operating in the Sector. ... in 2023, the Africa Finance Corporation (AFC) and the Solid Minerals Development Fund (SMDF) partnered to co-fund and co-develop commercial scale 'eligible' mining projects in Nigeria ...
MINING LAWS AND TAXATION IN NIGERIA
Nigeria's mining laws are handled by the Ministry of Solid Minerals Development which oversees the management of all mineral resources. 3.1.1 Nigeria Minerals and Mining Act Of 2007 'The Act' The Nigerian Minerals and Mining Act of 2007 was passed into law on March 16, 2007 to regulate all aspects of the exploration and exploitation of ...
Nigeria Solid Minerals Exploration
Edemenok Solid Minerals Nigeria Limited is an incorporated company under the co-operation of Nigerian Industrial Mineral resources which sources and explores solid minerals in Anambra State Nigeria. ... Red Mining Company is a fully registered Nigerian company engaged in the business of solid minerals mining and services in the areas of mapping ...
Environmental Issues and the Prospects of Mining in …
of solid mineral mining in the Nigerian context. Nigeria has been marked as one of the countries that have been blessed with abundant solid minerals on the continent. It constitutes some of the largest known deposits of different categories made up of precious metals, stones and industrial minerals like coal, tin, gold, ...
Explainer: 10 things to know about Nigeria's solid …
The Solid Minerals Roadmap is a strategic plan to revitalise Nigeria's solid minerals sector. Its primary objectives are to enhance the sector's economic contribution, improve data accuracy, promote sustainable mining, …
Financing Nigeria's Solid Mineral Development: A …
Co-operative Financing- the Nigerian Minerals and Mining Act, 2007 allows for ASMs to register as a co-operative. Hence, registered mining co-operatives may pool their resources together to secure funds from banks or financial institutions. ... The financing landscape for Nigeria's solid mineral projects presents a spectrum of options catering ...
Solid Mineral Deposits and Mining in Nigeria:
Part 5 reviews the status of the solid minerals industry, new mining regulations, mineral production statistics, mining practices, metallogenic provinces and assessment of resource potential and exploration targets in Nigeria.
Challenges and prospects of mining of solid mineral …
Challenges and prospects of mining of solid mineral resources in Taraba State, Nigeria Received 4 December, 2017 Revised 24 December, 2017 Accepted 10 January, 2018 Published 31 January, 2018 ... Bureau of Solid Mineral Resources and Nigerian Geological Survey Agency have shown the existence of large deposits of different mineral resources ...
Nigerian Mining Sector Brief
In 2023, the Africa Finance Corporation (AFC) and the Solid Minerals Development Fund (SMDF) partnered to co-fund and co-develop commercial scale 'eligible' mining projects in Nigeria. The partnership, …
Legal Framework Of Mining In Nigeria: An Overview
In 2007, the National Assembly enacted the Nigerian Minerals and Mining Act, 2007 (hereinafter referred to as "the Act") repealing the 1999 Minerals and Mining Act. ... The reality is that out of approximately 44 (forty-four) identified solid minerals in Nigeria, only 7 have been strategically selected and promoted for private sector ...