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Tag: mining

  • Fed Govt welcomes Mexican investors, restates incentives to boost mining

    Fed Govt welcomes Mexican investors, restates incentives to boost mining

    The Minister of Solid Minerals Development, Dr. Oladele Alake, has lauded the decision of investors from the Republic of Chile to visit Nigeria in search of investment in solid minerals.

    Welcoming the investors to his office in Abuja, Alake said President Bola Tinubu’s administration had put in place incentives to ease business for investors in the mining industry.

    The incentives, the minister said, include zero duty on equipment imported for solid minerals extraction, easy movement of profits to the countries of origin and tax holidays.

    He said investors in the mining industry are expected to sign Community Development Agreement with the communities in the mining area to ensure the socio-economic development of the region and their people.

    Alake said the current administration was sanitising the industry, citing the recent revocation of titles of companies that failed to comply with the law on annual service fee.

    Read Also; PHOTOS: Gov Sanwo-Olu hosts Oba Of Benin in Lagos

    Introducing the investors, Nigeria’s outgoing Ambassador to Mexico and former Osun State House of Assembly Speaker Adejare Bello told Alake that the embassy had screened the investors and confirmed that they were genuine and serious businessmen.

    The former ambassador assured the minister that the Mexican investment would boost the economy.

    He said the Nigerian Embassy had been engaging the investors in talks over two years and decided to lead them to the minister after it certified their status.

    “The honourable minister is aware that ambassadors have been recalled. This visit is the reason I stayed back so that I could bring them to you. Now, that I have achieved my mission, I will go back, pack my luggage and return home,” he said.

    Speaking on behalf of other investors, President of Seccion Internacional Para Africa, Dr. Heriberto Garcia Cortes, thanked Alake for the parley.

    The Mexican businessman said they saw Nigeria as their African home that deserved support to expand its economy.  

  • 1,633 mining operators forfeit licences

    1,633 mining operators forfeit licences

    The Federal Government has revoked the mining licences of 1,633 operators for defaulting in the payment of annual service fees.

    Revoked are 536 exploration licences, 279 quarry licences; 787small scale mining licences and 31 on mining leases.

    Solid Minerals Development Minister Dele Alake, who announced the revocation at a news conference in Abuja, warned the affected operators to stay off the mining sites.

    He said that erring operators would be apprehended and prosecuted.

    According to him, the notice for defaulters was published in accordance to the law in the Federal Government Gazette Number 178, Volume 110 of October 10. The mandatory 30 days, he said, expired since November 10

    Alake said that only 580 title holders out of the 2,213 defaulters responded to the notice by settling their indebtedness before the Mining Cadastre Office (MCO) recommended the revocation of 1,633 mineral titles.

    He said: “We shall continue to carry all stakeholders along in this rescue mission and shall always ensure that we are fair to all concerned.

    “However, we don’t intend to bend or break the rules whenever and wherever there are violations and non-compliance. Rather, we shall make such cases the examples for others to emulate.

    “It is indeed very unconscionable for corporate bodies making huge profits from mining to refuse to give the government its due by failing to pay their annual service fee. It is indeed a reasonable conjecture that such a company will even be more unwilling to pay royalties and honour its tax obligations to the government. The amount the companies are being asked to pay is peanut compared to their own revenue projections.

    “For example, the holder of an exploration title pays only N1, 500 per cadastral unit not exceeding 200 units. Those holding titles covering more than 200 units pay N2, 000 per unit, In short, the larger the area your title covers, the more you pay.

    Read Also: Fed govt revokes 1,633 mining operators’ licences

    “This principle was applied to ensure that applicants don’t hold more than they require to explore. With a cadastral unit captured as a square of 500 x 500 metres, any law-abiding title holder should not hesitate to perform its obligations.

    “In compliance with the law, the MCO on October 4, 2023 began the process of revoking 2,213 titles. These included: 795 exploration titles, 956 small scale mining licences, 364 quarry licences and 98 mining leases.

    “These were published in the Federal Government Gazette Number 178, Volume 110 of October 10, 2023 with the notice of revocation for defaulting in the payment of Annual Service Fee.

    “The mandatory 30 days expired on November 10, 2023. Only 580 title holders responded by settling their indebtedness. With this development, the MCO recommended the revocation of 1,633 mineral titles as follows: exploration licence, 536; quarry licence, 279; small scale mining licence, 787 and mining lease, 31.

    “In line with the powers conferred on me by the NMMA 2007, Section 5 (a), I have approved the revocation of the 1,633 titles. I hereby warn the previous holders of these titles to leave the relevant cadaster with immediate effect as security agencies shall work with the Mines Inspectorate of the Ministry to apprehend any defaulter found on any of the areas where titles have been revoked.

    “So, they were given 30 days’ notice, and the holders were published in the Federal Government Gazette as required by the law, there is a provision in the mining act guiding this exercise were before you can revoke, you have to ensure that the people are defaulting, there is a portal in the Mining Cadastre Office (where immediately their default, the system sends them an alert. Apart from that, when the MCO satisfies itself that you are belligerent and you are due for revocation, they then send a notice of 30 days and these notice is published in a Federal Government Gazette, there are other avenues of course, but we choose the Gazette.

    “In this instance, we are going to review upwards because there is no operator to the best of my knowledge who cannot afford to pay an upward review of mining titles. We don’t want any investor to go bankrupt, but there is a huge profit margin and in spite of that, they must give unto Caesar what is Caesars because we have invested heavily in all the operations, processes and applications of licences.

    “We have invested a lot of technology into these operations; we have invested heavily into data generation; so, without us updating the data periodically and frequently, we will not have adequate information on you will not have the justification of where to invest.

     “Infrastructure and other facilities have been provided and these things are very expensive and on the other hand the ease of doing business is already in place.

    “Few days ago, the two ministers of Defence were here to see me and it was in furtherance of the objective of consolidating the mining police, the minister of Defence said the military would go and clear sites before the deployment of our mining police because it is the job of the military. You know that illegal mining operators have been accused of sponsoring banditry. So, we can’t just first push the police.

    “I want to use this opportunity to send a stern warning to illegal miners, it’s no longer business as usual, there is a new Sheriff in town.

    “Those who indulge in illegal mining are hereby warned for the umpteenth time to desist because the security agencies are moving in as we speak and whoever is apprehended would have himself or herself to blame.

     ”In the same vein, those who are defaulting in remitting payment, fees, royalties, taxes in this sector are also warned. The revocation of licences is an ongoing thing and there is even a bigger one coming, all aimed at sanitising the sector.”

  • Fed govt revokes 1,633 mining operators’ licences

    Fed govt revokes 1,633 mining operators’ licences

    The federal government has revoked the mining licences of 1,633 mining operators.

    The licences includes, 536 exploration Licence, Quarry Licence, 279; Small Scale Mining Licence, 787 and 31 Mining Leases.

    Minster of Solid Minerals Development, Dele Alake said the revocation was for operators who defaulted in the payment of Annual Service Fee.

    He said the notice for defaulters was published in accordance to the law in the Federal Government Gazette Number 178, Volume 110 of October 10, 2023 and a mandatory 30 days expired on November 10, 2023 was given.

    Alaka said, of the initial 2,213 defaulters only 580 title holders responded by settling their indebtedness and with the development, the Mining Cadastre Office (MCO) recommended the revocation of 1,633 mineral title which he approved of.

    The Minister said this yesterday in Abuja at the press conference organised by the Ministry to announce the revocation of defaulting mineral titles.

    He also warned defaulters whose titles have been revoked to stay away from revoked areas because anyone caught would be apprehended.

    He said: “We shall continue to carry all stakeholders along in this rescue mission and shall always ensure that we are fair to all concerned. However, we don’t intend to bend or break the rules whenever and wherever there are violations and non-compliance. Rather, we shall make such cases the examples for others to emulate.

    Read Also: FG unveils health security strategy to tackle pandemics

    “It is indeed very unconscionable for corporate bodies making huge profits from mining to refuse to give the government its due by failing to pay their annual service fee. It is indeed a reasonable conjecture that such a company will even be more unwilling to pay royalties and honour its tax obligations to the government. The amount the companies are being asked to pay is peanut compared to their own revenue projections. For example, the holder of an exploration title pays only N1,500 per cadastral unit not exceeding 200 units. 

    “Those holding titles covering more than 200 units pay N2,000 per unit, In short, the larger the area your title covers, the more you pay. This principle was applied to ensure that applicants don’t hold more than they require to explore. With a cadastral unit captured as a square of 500 metres by 500 metres, any law-abiding title holder should not hesitate to perform its obligations.

    “In compliance with the law, the MCO on October 4, 2023 began the process of revoking 2,213 titles. These included 795 Exploration titles, 956 Small Scale Mining Licences, 364 Quarry licences and 98 Mining Leases. These were published in the Federal Government Gazette Number 178, Volume 110 of October 10, 2023 with the notice of revocation for defaulting in the payment of Annual Service Fee.

    “The mandatory 30 days expired on November 10, 2023. Only 580 title holders responded by settling their indebtedness. With this development, the MCO recommended the revocation of 1,633 mineral titles as follows: Exploration Licence, 536; Quarry Licence, 279; Small Scale Mining Licence, 787 and Mining Lease, 31.

    “In line with the powers conferred on me by the NMMA 2007, Section 5 (a), I have approved the revocation of the 1,633 titles. I hereby warn the previous holders of these titles to leave the relevant cadaster with immediate effect as security agencies shall work with the Mines Inspectorate of the Ministry to apprehend any defaulter found on any of the areas where titles have been revoked.

    “So they were given 30 days notice, and the holders were published in the Federal Government Gazette as required by the law, their is a provision in the mining act guiding this exercise were before you can revoke, you have to ensure that the people are defaulting, their is a portal in the Mining Cadastre Office (where immediately their default, the system sends them an alert. Apart from that, when the MCO satisfies itself that you are belligerent and you are due for revocation, they then send a notice of 30 days and these notice is published in a Federal Government Gazette, their are other avenues ofcourse but we choose the Gazette.

    “In this instance, we are going to review upwards because their is no operator to the best if my knowledge who cannot afford to pay an upward review of mining titles, ofcourse we don’t want any investor to go bankrupt but their is a huge profit margin but in spite of that they must give unto Caesar what is Caesars because we have invested heavily in all the operations, processes and applications of Licences, we have invested a lot of technology into these operations, we have invested heavily into data generation, so without us updating the data periodically and frequently, we will not have adequate information on you will not have the justification of where to invest.

    “So Infrastructure has been provided and these things are very expensive and on the other hand the ease of doing business is already in place.

    “Few days ago, the two Ministers of Defence were here to see me and it was in furtherance of the objective of consolidating the mining police, the Minister of defence said the Military would go and clear sites before the deployment of our Mining police because it is the job of the military to clear the ground because you know that illegal mining operators have been accused of sponsoring banditry so we can’t just first push the police.

    “I want to use this opportunity to send a stern warning to illegal miners, its no longer business as usual, their is a new Sheriff in town, President Bola Ahmed Tinubu is the new Sheriff in town and it cannot be business as usual, those who indulge in illegal mining are hereby warned for the umpteenth time to desist because the security agencies are moving in as we speak and whoever is apprehended would have himself or herself to blame.

    “I’m the same vein, those who are defaulting in remitting payment, fees, royalties, taxes in this sector are also warned. These exercises of the revocation of Licences is an ongoing one and their is even a bigger one coming, all aimed at sanitising the sector.”

  • Military to secure mining sites

    Military to secure mining sites

    The Minister of Defence has assured the Ministry of Solid Minerals Development that the military will assist in securing mining sites in the country.

    Minister of Defence, Abubakar Badaru and the Minister of State for Defence, Bello Matawelle pledged their unalloyed support for the efforts to create revamped security architecture for the mining sector.

    Matawalle revealed that plans were on course, in collaboration with the Ministry of Solid Minerals, to secure all mining sites in the country, restating the significance of the mining sector to Nigeria’s economic development.

    Badaru and Matawelle, disclosed this in Abuja when they paid a courtesy call to the Minister of Solid Minerals Development, Mr. Dele Alake.

    Special Assistant on Media to the Minister of Solid Minerals Development, Segun Tomori made this known in a statement.

    He stated, “The Minister of Defence, Abubakar Badaru and the Minister of State, Bello Matawelle, have assured the Minister of Solid Minerals Development, Dr. Dele Alake of unalloyed support for his efforts to create a revamped security architecture for the mining sector.

    “Also, Badaru, a former Governor of Jigawa state, assured that his ministry is on the same page with the Ministry of Solid Minerals to secure mining sites and provide an enabling environment for mining operations in the country.

    “The purpose of the visit by the two of us is to discuss how we can provide security for the mining areas so that the mining sector will not lay idle. We are working to provide security in the farms for food security and, as much as possible, provide security for the mining sector. This is important so that we can earn the much needed foreign exchange to stabilise our currency. In addition to oil, mining is a very important sector that will help to rejuvenate the economy of this country, ” Badaru added.

    Read Also: Alake promises end to mining operators, communities’ feud

    He added, “In his remarks, Dr. Alake asserted that the visit of the Defence Ministers signposts the seriousness of the Tinubu administration to strengthening the mining sector and securing mining areas across the country.

    “The main essence is to secure our minerals sector. I have been saying it to foreign investors and potential investors that we need to secure the mining sector of Nigeria, so that the operators, both local and foreign, can have a free and unfettered atmosphere to operate, so that we can derive maximum benefits from this God-given resource and i’ve been saying it that I am working in conjunction with Ministry of Defence and all inter-military agencies are involved in this security architecture that we are reinvigorating. That’s why they are here, ” Alake emphasised.”

    He also stated, “It will be recalled that an integral part of Alake’s 7-point agenda for the transformation of the solid minerals sector is the establishment of Mines Surveillance Task Force and Mines Police.”

  •  Alake promises end to mining operators, communities’ feud

     Alake promises end to mining operators, communities’ feud

    The Minister of Solid Minerals Development, Mr Dele Alake said the present administration is making efforts to ensure that disputes that used to exist between mining operators and host communities comes to an end.

     He said the objective is for operators to carry out their duties without any infraction, while host communities derive maximum benefits from the operations of the mineral sector.

    He said this is being done through the revised guidelines for the production of Community Development Agreement (CDA) in the sector.

    Also, the Ministers of Defense has assured the Ministry of Solid Minerals Development that the Military would assist in securing mining sites in the country.

    Minister of Defence, Abubakar Badaru and the Minister of State for Defence, Bello Matawelle pledged their unalloyed support for the efforts to create revamped security architecture for the mining sector.

    Matawalle said plans were on course, in collaboration with the Ministry of Solid Minerals, to secure all mining sites in the country, restating the significance of the mining sector to Nigeria’s economic development.

    The ministers stated this in Abuja when they paid a courtesy call to Dr. Alake.

    Alake said the concept of CDA was introduced in the sector to promote harmonious and mutually beneficial relationship between mining companies and their host communities to forestall a repeat of social crises experienced in the Niger/Delta by the oil sector.

    The Minister spoke yesterday in Abuja at the launch of the Ministry of Solid Minerals Development in collaboration with the African Centre for Leadership, Strategy and Developments (LSD) revised CDA guidelines.

        He said: “The concept of CDA has been introduced in the Solid Minerals Sector to promote harmonious and mutually beneficial relationship between the Mining companies and their host communities to forestall in the Sector the repeat of social crises experienced in the Niger/Delta by the oil sector, which may undermine the present efforts of the Federal Government aimed at diversifying our monolithic economy.

        “And I’m happy that we are launching this revised guideline yesterday at our forum. I did give some of the reasons that necessitated the review of these guidelines. Prominent among which is the engagement of mineral mining companies and their host communities, the engagement that should normally lead to a very peaceful atmosphere around operations and of course, importantly the beneficiation to the host community.

    Read Also: Tinubu, Kyari will stimulate economic prosperity – Hassan

        “And the aim is to ensure that our host communities derive maximum benefits from the operations of our mineral sector. Now, why would that be? Number one is the fact that we have shifted our attention to the mineral sector in this country to date. Principally because we need economic survival, we must exploit our God-given resources for the betterment of our people, and who are our people, the host community.

        “Like I said yesterday, each and every one of us comes from one host community or the other. Even if you are not from a host community, you are from one community; we are all from one community or the other. And invariably from what we have seen so far, there is hardly any state in this country without one mineral resource or the other.

        “And all are very critical, all are very significant and all have impacts on the host community. So for the very secured and peaceful operations of mineral resources, the host communities must be carried along in all operations. And that’s why the Nigerian government felt it necessary to include in the Mining Act of 207, a very important clause which stipulates that mining companies must sign an agreement with the host community and the agreement must spell out the beneficiation programme.

        “The overall objective is for operators to carry out their duties effortlessly without any problem without any infraction because the host community happy with the operations of these operators, so that at the end of the day, the host communities will maximally derive some benefits, while the operators who are also not on charity business would have a free atmosphere to exploit the resources and make necessary profit. Pay the necessary royalties and taxes to government and ensure that the nation at large is happy.

        “When these guidelines become operational, we are going to ensure enforcement from the host communities angle and from the operator’s angle.

        “Today in the global market, mineral resources are replacing oil. Why is that? It is because the world is moving from pollution based minerals, liquid minerals like oil, like fossil fuel, hydrocarbons and all that are moving into clean energy. We call it clean energy transition and what constitutes the clean energy is a solid mineral.”

        According to him, another thing that would be done in the next few days in terms of sanitising the environment is to ensure transparency, maximum transparency in the licencing processes. “We’ve had a lot of complaints from all stakeholders virtually about the opaque nature of our licencing processes, from the application to allocation, to processesing and even to the operation,” the minister added.

        Permanent Secretary of the Ministry, Dr. Mary Ogbe said the CDA is a statutory provision that ensures the transfer of socio-economic benefits to mining host communities. It is a legal document that contains obligations by the Mineral Title Holder to her host communities and vice versa.

        She also said for ease of implementation, the Ministry produced a Guideline in 2014 and over the past years some gaps were identified in the Guideline and coupled with some complaints and petitions from the communities, the Guidelines has been revised to meet up with global best practice.

        Special Assistant on Media to the Minister of Solid Minerals Development, Segun Tomori, in a statement, said the ministers spoke during a courtesy visit to Dr. Alake in his office.

         Mr. Matawalle revealed that plans are on course, in collaboration with the Ministry of Solid Minerals, to secure all mining sites in the country, restating the significance of the mining sector to Nigeria’s economic development.

  • ‘Fed Govt should be proactive in mining law’ 

    ‘Fed Govt should be proactive in mining law’ 

    New York-based lawyer and chartered accountant, Owolabi Salis, has said the Federal Government should be more decisive over the activities of illegal miners.

    He said many Nigerians were not aware that illegal miners, especially foreigners, in collaboration with some bad eggs in the country, were responsible for over 60 to 65 per cent of insecurity confronting the nation.

    Salis said these illegal miners often instigate, fund and orchestrate communal clash(es) to displace people from their land with the aim to get illegal access to natural resources.

    Salis, who has contested for governorship elections twice in Lagos State, also faulted the Federal Government’s 30-day ultimatum to illegal miners. 

    He said joining a miner’s association would not bring solution to the activities of illegal miners.

    He said: “Nigeria is losing billions of dollars owing to the government’s negligence of the mining sector. Several factors are bedevilling the mining industry; two of them are illegal mining and smuggling of precious gems, aquatic animals, wild animals and others out of Nigeria.

    “Nigeria is losing billions of dollars every year due to our negligence in the mining sector. The authority has not controlled the issue of mining, which is also creating a security threat.

    “Most of these illegal miners operate without government’s approval and they are masterminded by foreigners in collaboration with local lords.

    “The foreign illegal miners are the ones funding insurgency to displace people from their communities, with the aim to gain access to carry out illegal mining. They will invade the village to displace innocent people, especially where they discovered valuables and raw materials.

     These international criminals are at the forefront and the Nigerian authority does not pay attention to it.”

    Salis urged the government to inculcate mining in the nation’s education curriculum. 

    Read Also: Oyo seals illegal mining sites

    He said: “This will teach and enlighten younger Nigerians about the gains in the mining sector.

     ”Mining education should be introduced in primary and secondary schools and of course tertiary institutions. Mining is key to transforming the earth to usefulness to people. Countries that are proficient in mining train their children in the area and also make it compulsory.”

    He said President Bola Ahmed Tinubu should pay more attention to mining.

    “One of the problems of African people is they are not paying attention to how to transform natural resources to human use, for valuable use. It is not only limited to solid minerals. It includes precious gems in the ocean,” he said.

    He advised the government to make laws that would ban illegal miners from operation.

    “Natural resources in the ground belong to the people of Nigeria. Several laws all over the world safeguard valuable minerals, which belong to the country. You can own the land but you don’t own the resources in the ground. Some countries allow people to pay taxes. The government taxes them heavily to access these resources. In the modern world, they tax them in a way that they own the resources. No country will allow you to buy land and you see gold there and you said the gold is your own. Everything belongs to the government and you have to account for it,” he added.

    He said the government should stop prominent traditional rulers that are encouraging illegal mining, noting: “Many of these traditional rulers have their shares in gold after mining and the poor are used as cheap laborers.

    “Some people come from foreign countries to deforest our land, meanwhile, they leave the forest in their own country. The government needs to be more serious and the problem is the civil servant, when you hand over things to them it is never done.”

    Salis said the government should endeavour to reinforce the local watch to monitor activities in the community.

    “They will also serve as surveillance to monitor activities in the neighborhood.”

  • Oyo seals illegal mining sites

    Oyo seals illegal mining sites

    The Oyo State Mineral Development Agency has sealed mining sites operating without consent letters and community development agreement.

     Director General of the agency, Abiodun Oni, who led the enforcement at the weekend, said the decision was taken to restore order in the mining sector for the good of the state.

     Oni added that the government is ready to partner stakeholders to sanitise the sector as contained in the Mining Act and all relevant Laws.

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     He said the agency requested for the consent letters, community development agreements and other relevant documents that legalise mining operations in the state.

     Coordinating Director of the agency, Mrs. Jolade Omidiran, urged miners and all relevant stakeholders to submit their documents before the enforcement team gets to them.

  • Govt working to develop mining communities

    Govt working to develop mining communities

    The Minister of Solid Minerals Development, Dr. Dele Alake has reaffirmed the significance of host communities and traditional rulers to the conducive environment required for socio-economic development of host communities.

    The minister stated this while playing host to Attah of Igala and President of Kogi State Traditional Rulers Council, Ata Matthew Opaluwa, who visited him in Abuja. Stressing the need for host communities to take ownership of mining activities and collaborate with the government to ensure efficient mining operations, Dr Alake restated the commitment of the Federal Government to protect the rights of communities and ensure their rights.

    “Whatever we can do to ensure a peaceful, operating environment, we will do. We also need the cooperation of locals in partnering with the government to ensure better security. If we have peace around mining operations, we will be able to attract more investments in the mining sector. The government, on its part, is rejigging the security architecture to address contemporary security challenges besetting the sector and also factoring royalties for communities into every mining operation,” he added.

    Read Also: Tinubu declares war on sharp practices in mining sector

    The Ata of Igala in his remarks commended the Minister for his efforts, thus far, in repositioning the mining sector, noting however, that unlicensed miners and those operating without requisite agreement with host communities remains an albatross, posing security challenges to locals.

    He sought the intervention of the Minister in addressing this whilst also advocating for prominent roles for host communities paramount rulers to protect the interests of the people.

    Dr. Alake, while responding, assured HRH Opaluwa that the Ministry’s Mines Inspectorate would be strengthened to ascertain authenticity of mining agreements, promising inclusion of Traditional Rulers in signing agreements on behalf of host communities.

        To ensure the payment of due royalties and protection of community rights, the Minister revealed that plans are underway to reposition the Mineral Resources and Environmental Management Committee (MIREMCO) for optimum efficiency.

  • Firm eyes $1b mining revenue

    Firm eyes $1b mining revenue

    Nigerian firm, Bluesach Matrix Limited, has announced that it is targeting $1 billion revenue from mining in the next four years.

      Chairman of the firm, Mr Kingsley Anajemba, who made this known in a statement yesterday said the company has acquired mining sites from other mining companies that were inactive.

    Anajemba stated that after the exploration and mining of the acquired sites should account for about 100 million metric tons of granitic pegmatite, a form of igneous rock which hosts the largest concentration of high percentage lithium ore and minerals.

    He added that the company estimates to mine and refine about 3.6million metric tonnes of lithium from over 20 mining sites.

    Read Also: Firm targets $1b revenue from mining

    He said the primary focus of the company is to attract investors, reduce the nation’s dependency on fossil fuel, increase employment from direct labour, boost local content and reduce capital flight from the export of unlicensed minerals.

    Anajemba, who is also a geologist, further said the company is a Nigerian company with global recognition in the solid mineral sector with experienced personnel having acquired the complete ownership and title of mining sites allocated to other mining companies with the aim of exploring and mining solid minerals of various classes for commercial purposes.

    He said: ”BlueSach Matrix Limited is in partnership with foreign investors to set up a commercial bank primarily to finance the operations of the solid mineral sector in Nigeria for active license owners who intend to bring mining industrialization to Nigeria.”

     Anajemba boasts of 20 years of experience in leading and increasing organizational growth across multiple industries including Oil and Gas, Finance, and Security.

  • Firm targets $1b revenue from mining

    Firm targets $1b revenue from mining

    Nigerian firm, Bluesach Matrix, is targeting $1 billion from mining.

       Chairman, Kingsley Anajemba, in a statement yesterday, said the company acquired mining sites that were inactive.

        He said Bluesach Matrix, after exploration and mining, would account for about 100 million metric tonnes of granitic pegmatite, a form of igneous rock, which hosts the largest concentration of lithium ore and minerals. 

    He noted the firm estimates to mine and refine 3,600,000.00 metric tonnes of lithium in 20 mining sites.

    Read Also: Illegal mining: NSCDC operatives arrest 11 suspects

    Anajemba said the company would attract investors, reduce dependency on fossil fuel, increase employment from direct labour, boost local content and reduce capital flight from export of unlicensed minerals. 

    “BlueSach Matrix partners foreign investors to set up a commercial bank, to finance operations in solid mineral for active licence owners who intend to bring mining industrialisation to Nigeria.” 

    Anajemba boasts 20 years experience in leading growth across industries, including oil and gas, finance, and security.