The federal government says it pulled about $3.32billion private investments into Nigeria mining projects.
Minister of State for Mines and Steel Development, Hon. Abubakar Bawa Bwari, said this Monday at the 3rd Nigeria Mining Week in Abuja.
He noted that as part of government’s efforts to create a more business friendly environment in the sector, investors whose projects couldn’t take off because of bureaucratic challenges, were invited to an Economic Recovery and Growth Plan (ERGP) Focus Lab in order to resolve such challenges.
“As a result, we were able to leverage about $3.32billion private investments into mining projects like gold mining and refining, foundry works, lead/zinc exploration & production, tin, tantalite and columbite mining and processing.
He added that, “Following the experience gained at the ERGP Focus Lab, the Ministry of Mines and Steel Development is now focused on removing challenges hindering the formal exploitation of gold, tin and lead-zinc while stopping the indiscriminate exports of these mineral commodities to foreign smelters.
“To this end, a new Export Guidelines for the Export of Mineral Commodities has been developed to ease challenges surrounding the granting of export permits and other licensing issues.
According to him, “As a result of these developments, we discovered a renewed interest in formal mining in Nigeria and the number of mineral titles held by serious investors is on the rise.
He emphasized that “We have strengthened our policy and institutional frameworks for investors in the minerals sector and daily it gets easier to do mining business in Nigeria.” He added that as part of the Mining Sector Roadmap, the Ministry will focus on supporting efforts that seek to promote the sector by promoting networking among stakeholders, improving the knowledge assets needed to sustain key reforms, and using an innovative array of workshops and roundtable to help participants find prospective partners or collaborators.
“Above all, the Mining Week seeks to reposition the mining sector as one of the frontiers of our economic diversification, in line with the Federal Government’s agenda.
He assured organizers of the event the Ministry’s support the event which “has become a crucial part of the Nigerian mining environment, and one of the major conferences in our country’s Mining calendar.
“I must therefore congratulate the Miners Association and other collaborators for sustaining the growing interest in this event every year,” he said.
The event was organized by the umbrella body of miners in Nigeria – Miners Association of Nigeria (MAN) in partnership with PricewaterhouseCoopers and Spintelligent.
