Minister of Mines and Steel Development Architect Olamilekan Adegbite has stated the need to formalise operations of Artisanal and Small Scale Miners in the country.
The said this at the first public stakeholder consultative meeting of the formalization of artisanal miners into cooperatives and small-scale miners into larger mineral and financial enterprises together with the design and implementation of an Artisanal and Small-Scale Mining (ASM) remote sensing monitoring system in the mining and steel sector project.
According to recent estimates by the World Bank, the ASM sector employs at least 40 million people worldwide. In Africa, the estimates are quite significant at 9 million people where it accounts for the largest mining workforce.
“Development of an Artisanal and Small-Scale Mining (ASM) formal economy is crucial for aiding Nigeria’s sustainable economic development within the context of a sustainable rural livelihood framework.
“It provides us with the opportunity to diversify our economy, address high levels of unemployment and poverty, and build our rural economies in line with Mr. President’s policy objectives for the mining sector.”
He added that formalisation is the only tried and tested pathway across the globe to retain the economic and social benefits and manage the negative environmental, social, health, and safety impact of ASM activities.
The Artisanal and Small-Scale Mining (ASM) sector is globally recognised as a major contributor in terms of mineral production, employment, poverty alleviation, rural development etc.
“Through formalisation, we aim to bridge the gap between the ASM mineral trade and armed gangs as well as illicit trade,” he said.
In his good will massage, chairman, Senate Committee on Solid Minerals and immediate past governor of Nassarawa state, Senator Tanko Almakura, described the mining industry as a revenue earner and the hope of Nigeria’s future.
He assured stakeholders in the mines and steel sector that the Senate is willing to make laws that will create legal framework that will make the mining sector more vibrant.
Almakura added that when enabling environment is provided for ASM’s in terms of finance and security, the sector is bound to record a tremendous success.
In a welcome address, the Permanent Secretary, Mr Edet Sunday Akpan revealed that the federal government is working on a credit facility from the International Development Association (IDA) to fund the Mineral Sector support for Economic Diversification (MinDiver) project.
