The Federal Government has revealed that it has so far attracted $3.32 billion in private investments into mining in the country.
Minister of State for Mines and Steel Development, Hon Abubakar Bwari said that this is due to the present administration’s commitment to growing the mining sector.
Bwari who made this revelation in Australia, at the Africa Down Under 2018 Conference, stated that the summation is provided in the Economic Recovery and Growth Plan (ERGP) focus lab.
Personal Assistant Media to the Minister, Ishaku Kigbu made this known in a statement.
He said, “Minister of State for Mines and Steel Development, Hon. Abubakar Bawa has said that due to the present government’s commitment to growing the solid minerals and mining sector, leading to the leverage of about $3.32billion private investments into mining projects as provided in the ERGP focused lab, Nigeria is today ranked among the most conducive
environments to do mining business.
“Speaking at the just concluded Africa Down Under 2018 Conference on a topic titled ‘A New Dawn ln Nigerian Mining Sector’ in Australia, he said, already given this new trend, private investments into mining projects covering gold mining and refining, foundry works, lead/zinc
exploration and production, tin and columbite mining and processing among others have experienced unprecedented leap in production.
“Africa Down Under 2018 Conference to ease challenges surrounding grant of export permits and licensing issues. Formal mining is on the rise in Nigeria and this is evidenced by the number of mineral titles held by investors.
“Prominent among these projects include Symbol Mining/Goidal Resources that are currently developing an open pit mine for exploiting lead-zinc deposits located in Bauchi and Nasarawa States. First Patriots are already mining and producing 5,000 tonnes per month lead-zinc concentrates; Thor Explorations Limited that are continuing with mine development and exploration works over Segilola Gold Project; two coal mines operated by Eta-zuma Group and Ashaka Cem Plc; and Promethean Resources that engages in the production of tin and columbite concentrates for export.”
While speaking in Abuja Tuesday at the Nigerian Metallurgical Industry Stakeholders Forum (MISF), Hon. Bwari stated that Nigerian Lead/Zinc ore scores highest in world.
He said that Nigeria’s Lead/Zinc ore, mined in Bauchi state contains 22% zinc compared with world’s average of 6%.
He also added that he desire of the Federal Government of Nigeria is to diversify the economy presently dependent on Oil and Gas sector to other sectors such as minerals and metals is well known to you. Aside the seven strategic minerals (Iron ore, Lead/Zinc, Gold, Coal.
His words, “Lead/Zinc mining in Bauchi State stated that Nigeria’s Lead/Zinc ore
contains 22% zinc compared with world’s average of 6%. The desire of the Federal Government of Nigeria is to diversify the economy presently dependent on Oil and Gas sector to other sectors such as minerals and metals is well known to you. Aside the seven strategic minerals (Iron ore, Lead/Zinc, Gold, Coal, Barites, Bitumen and Limestone) every local Government in Nigeria has one or more minerals located in it.
“Though I am not an Engineer, I am aware that metallurgy is the branch of science and technology that is concerned with the study of the properties of metals, their production and purification. Mineral processing (concentration), physical metallurgy, smelting, extractive metallurgy (chemical separation) and steel production are all metallurgical processes. Steel is power and the metal sector must be repositioned to inter-alia produce.”