Nigeria's mining sector is entering a new phase following the Covid-19 pandemic, with greater government support and a growing role as an important generator of export earnings amid post-pandemic economic recovery. Many of Nigeria's mineral resources remain unexploited, with considerable potential in gold, precious and semi-precious stones, gemstones, iron ore, …
for any mining investor is a clear and unambiguous legal and regulatory framework. Major considerations for any investor under this head are licensing and permit requirements; …
The Mining Act. The Mining Act is Nigeria's major legislation governing the mining sector. It regulates all aspects of the exploration and exploitation of solid minerals in Nigeria. The Mining …
I. SOLID MINERALS LEGAL REGIME Relevant Policy /Statutes. Minerals and Mining Act No. 20 of 2007 (the MMA): The Act is the principal legislation that regulates the Nigerian mining sector. The Act vests the control, regulation and ownership of all mineral resources in the Federal Government of Nigeria (FGN). The National Minerals and Metals …
Therefore, Understanding Solid Minerals Laws and Taxation examines the overview of Nigeria's mines and solid minerals industry, the legal framework of mines and solid minerals, the role of ...
Nigeria is endowed with vast reserves of natural resources such as energy minerals like coal and lithium, metallic minerals like gold and lead-zinc and industrial minerals like limestone and barite. ... a new national focus and strategy on mining evolved and this culminated in the enactment of the Nigerian Minerals and Mining Act (the Act or ...
The Mining Act is Nigeria's major legislation governing the mining sector. It regulates all aspects of the exploration and exploitation of solid minerals in Nigeria. The Mining Act mirrors the provision of the Constitution providing …
According to KPMG, the Federal Executive Council on April 5, 2023, approved a draft amendment of the Nigerian Minerals & Mining Act ("the Act"), 2007 – the principal legislation regulating the mining of solid minerals in …
Minerals and Mining Act 2007 for the purposes of regulating all aspects of the exploration and exploitation of solid minerals in Nigeria; and for related purposes.
INTRODUCTION. On November 16, 2023, the Honourable Minister of Solid Minerals Development, Dr. Dele Alake, officially launched the 'Guidelines for the Production of Community Development Agreement in the Solid Minerals Sector' (the "Guidelines").The Guidelines was issued in pursuance of the provisions of Section 116 of the Nigerian Minerals …
However, the principal legislation on mining and mineral resources in Nigeria is the Nigerian Minerals and Mining Act 2007.2 This Act seeks to repeal the old Mining Act3 and re-enacting the Nigerian Minerals and Mining Act 2007 for the purpose of regulating all aspects of the exploration and exploitation of solid mineral resources in Nigeria ...
In Nigeria, there are a number of laws applicable to the mining sector such as the Constitution of the Federal Republic of Nigeria 1999 (as amended) (the Constitution), Land Use Act, Cap L5, Laws of the Federation 2004 (the Land Use Act); Nigerian Minerals and Mining Act, 2007 (the Mining Act); Nigerian Minerals and Mining Regulations 2011 (the ...
Under the Nigeria's Minerals and Mining Act, 2007, only corporations can obtain a mining lease in Nigeria. And when a mining lease is issued, the duration is for a period of 25 years. ... In order to encourage investment in the solid minerals industry in Nigeria, Government is offering the following incentives. 3-5 years Tax Holiday; Deferred ...
The reality is that out of approximately 44 (forty-four) identified solid minerals in Nigeria, only 7 have been strategically selected and promoted for private sector participation and investment by the Federal Government and …
Presidential Committee on Solid Minerals Development (2003). Another such signals is the procurement last year, of mineral law expertise to review and revamp the current mining law in conformity with international best practices. This is a very important development as mining law reform is a fundamental pillar in the entire sector reform process.
Major Minerals in Nigeria There are about 34 mineral occurrences in Nigeria (Fig. 3, table 1) that cut across Metallic minerals, precious metals, precious stone, and industrial minerals. In this review, some selected major minerals will be discussed. Fig. 3. Map of Nigeria Showing the distribution of Minerals occurrences. Source (RV2020)
The Nigerian Minerals and Mining Act is the principal legislation that regulates the sector. The Act vests the control, regulation and ownership of all mineral resources in the Federal Government of Nigeria (FGN). The Minerals and Mining Regulations and the National Minerals and Metals Policy also govern the sector.
The recent arrests come as Nigeria seeks to regulate its mining operations of critical minerals, curb illegal activity and better benefit from its mineral resources.
INTRODUCTION: In view of resurging sector reforms in the Nigerian extractive sector and global rise in commodity prices, local interests in mining have since grown especially considering its potential for inter sectoral growth and increase in Nigeria's export ratio 1.Although still highly underdeveloped, the Nigeria mining sector continues to draw increasing investor …
The permanent secretary, Ministry of solid minerals development, Dr. Mary Ogbe explained that, the Community Development Agreements (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 community ...
The Nigerian Minerals and Mining Act is the principal legislation that regulates the sector. The Act vests the control, regulation and ownership of all mineral resources in the Federal Government …
About the Law. This Act was established for the purposes of regulating all aspects of the exploration and exploitation of solid minerals in Nigeria. Some key provisions: Gives ownership of all mineral resources in Nigeria and in the Exclusive Economic Zone to the Federal Government for and on behalf of the people of Nigeria
legal framework for exploiting solid minerals in Nigeria consists of laws, regulations, policies ... made in respect of any mineral title granted pursuant to the Minerals and Mining Act, 2007. 13.
An Act to Repeal the Minerals and Mining Act, No. 34 of 1999 and Re-enact the Nigerian Minerals and Mining Act, 2007 for the purposes of Regulating all Aspects of the Exploration and …
In 2007, the Nigerian Mining and Minerals Act (NMMA) was enacted, repealing the FMMA of 1999, for the purpose of regulating the exploration and exploitation of minerals in Nigeria. The sector has immense revenue generation capacity for the country, considering the untapped value potential yet to be unlocked and utilized.
Nigeria's minerals and mining sector is still largely underdeveloped despite its glorious past and abundance of mineral resources for development, including high-value metallic minerals, industrial minerals, and energy minerals. In 2015, the sector contributed approximately 0.33% to the gross domestic product of the country.
The functions of the ASM Department include the implementation of the provisions of the Nigerian Minerals and Mining Act, 2007 as it concerns Artisanal and Small-scale Mining and developing a robust policy/legal framework to guide artisanal and small-scale mining in Nigeria. In specific terms, the functions include; a.
To exploit the nation's mineral endowments in an environmentally sustainable manner and establish a vibrant minerals and metals industry for wealth creation, poverty reduction, promotion of economic growth and significant contribution …
Based on the findings of this study, the problems of solid minerals in Nigeria are inadequate basic infrastructural, illegal mining, unfavorable laws in the sector, high capital outlay, inadequate ...
Other Solid Minerals that can be found in Nigeria include; Rock salt, Gemstones, Kaolin, Tantalite, and Gypsum. Legal Framework. Exploitation and exploration of Solid Minerals are governed by the Nigerian Minerals and Mining Act 2007 ("the Act"), and the Nigerian Minerals and Mining Regulation 2011. The Act vests control of all properties and ...
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