Tag: Mining activities

The Federal Government, through the Ministry of Solid Minerals Development, has raised the dues and rates paid by operators in the mining sector. Minister of Solid Minerals Development, Dele Alake, announced the price increase at a press conference at the Ministry’s  headquarters yesterday, in Abuja. He said the Government increased a total of 286 rate regimes ranging from 50 percent to 100 percent, adding that compliance begins immediately. He also warned that defaulters will have their licenses revoked. The Minister said the review was necessary due to the paucity of…

…Eyes new investors The Federal Government has revoked an additional 924 dormant mineral licences with immediate effect. According to Dele Alake, minister of solid minerals development, the affected titles include 528 exploration licences, 20 mining leases, 101 quarry licences, and 273 small-scale mining licences. In November, more than 1,600 mining titles were revoked for non-payment of statutory fees as part of sweeping reforms in the sector. Speaking during the briefing on Wednesday, Alake lamented the high rate of licence racketeering, as well as dormant mineral licences, which he assured of…

The Federal Government, through the Ministry of Solid Minerals Development, has revoked 1,633 minerals titles previously given to non-complying mining companies. The Minister of Solid Minerals Development, Dele Alake, announced this during a press briefing yesterday, in Abuja. According to him, the licenses of these mineral title holders were revoked due to failure to pay mandatory annual service fees of N1, 500 per cadastral unit. He said, �The Mining Cadastre Office has recommended the revocation of 1,633 mineral titles as follows: Exploration Licence, 536; Quarry Licence, 279; Small-Scale Mining Licence,…