• Wednesday, February 28, 2024
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Alake to mining companies: Commit to developing host community or lose licence

Nigeria leads Africa’s mining sector resurgence

The Federal Government has declared that the consents of host communities, are now a necessary prerequisites for getting mining licenses in Nigeria.

Dele Alake, the minister of solid minerals development stated this on Tuesday while speaking at the BusinessDay Solid Minerals Conference in Abuja.

At the conference, themed ” Digging Deeper: Diversifying Nigeria’s Economy for Wealth Creation” , the minister stated that last year, he launched the community development initiative with mining firms in Nigeria, into which some firms have keyed in.

He disclosed that about 14 companies signed the development pact with their host communities in 2023.

He therefore warned mining companies operating in Nigeria to key in into the initiative to avoid having their licenses revoked.

“I am using this opportunity to sound this warning that any company that refuses to sign the community development agreement, stands the risks of getting their licenses revoked,” Alake said.

He recalled the setting up of the inter ministerial committee for security of the sea and land, headed by him to ensure safety in the mining and other sectors.

“This will take care of agriculture, Minerals and mining,” he said.

He assured that the modalities to be unveiled soon will give Nigerians a ray of hope.

He noted also that Nigeria must embark on aggressive international mobilisations and application of global best practices so that from any where in the world, investors can apply for mining licenses.

He noted that the mining geological mapping that will soon be launched will go a long way to address access to information.

“Host community approval is now a prerequisite to accessing mining licences,” he said.