…releases results of new electromagnetic survey
By Musa Adamu
The federal government has concluded arrangements to establish the Nigerian Mining Commission (NMC)to take charge of the regulatory role of the Ministry of Mines and Steel Development.
The Minister of Mines and Steel Development, Dr Kayode Fayemi, who disclosed this at the Nigeria Day event at the on going African Mining Indaba, in Cape Town, South Africa, said the law setting up the commission was already with the National Assembly.
According to a statement by Media Assistant to the Minister, Olayinka Oyebode, said Dr Fayemi spoke as Nigeria took the centre stage at the African Mining Indaba, with the formal presentation of its new Airborne Electromagnetic Survey Results amid endorsements for the country’s mining sector reforms by mining experts, operators and developmental agencies.
It said the presentation of the new Airborne Electromagnetic Survey Results, a major high point of the event at the week-long mining conference, was witnessed by renowned stakeholders in global mining, including Deputy Minister of Mines and Minerals of Venezuela, Franklin Ramirez Araque; Australian Ambassador to Nigeria, Paul Lehman, Nigerian High Commissioner to South Africa, Ambassador Ahmed Musa Ibeto and the Permanent Secretary of the Ministry.
Others include representatives of top mining conglomerates, mining nations such as Canada, Zambia, Angola, South Africa and Senegal.
The Minister said government was determined to strengthen regulation in the sector as well as ensure the improvement of its geological data.
He said the commission, which would be known as the Nigerian Mining Commission, would not only be the final authority on regulatory matters, it would also take charge of mining leases.
Fayemi, in an interactive session with investors and the Media after the presentation of the new Nigeria Electromagnetic Survey results, said the delivery of the geological data, was in line with government’s desire to ensure bankable geological data, that would be an incentives to investors.
He stated further that the ministry would undertake more extensive electromagnetic Airborne Geological Survey of some promising parts of the country this year, as well as the completion of the National Mineral Database.
He said: “We want to ensure predictability, that is what we want to offer. We want to be a big mining designation.
“To achieve this ,we have to put certain things in place, including provable data, sound regulations, capacity building for Artisanal and Small Scale Miners as well as asses to funding.”
He explained while mining circle was not the same as electoral circle, it was important for government to put in place sound policies and reforms as well as bankable geological data that would make the Nigerian mining jurisdiction a major attraction.
He also hinted on government’s determination to enhance its collaboration with the state governments and the host communities, a development which he said was being worked out administratively and through the establishment of the National Council on Mining and Minerals Development Council, where the states are playing active roles.
He was optimistic that the combination of the various reforms being put in place, inputs by the National Council on Mining and Minerals Resources Development and the Chamber of Mining would help to reposition the sector for better result.