FG ready to establish mining commission

The federal government has concluded arrangements to establish the Nigerian Mining Commission, 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 2018 African Mining Indaba, in Cape Town, South Africa said the law setting up the commission is already with the National Assembly.
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.
Speaking after the presentation of the new Airborne Electromagnetic Survey Results at the week-long Africa Mining Indaba conference in South Africa last week, Fayemi 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 added 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.
The minister 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, and capacity building for Artisanal and Small Scale Miners as well as access to funding.
The minister 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 expressed optimism that the combination of the various reforms being put in place, inputs from the National Council on Mining and Minerals Resources Development and the Chamber of Mining would help to reposition the sector for better result.
Top speakers who spoke on various aspects of the New Electromagnetic Survey results included director, business development, Compagnie Generale de Geophysique (CCG) Airborne Surveys PTY, Australia, Gaig Annison, who described Nigeria as a nation taking very bold steps towards becoming a major mining destination.
On his part, Venezuela’s deputy minister of mines and minerals, Franklin Ramirez Araque, said the oil and gas rich country was also diversifying to mining in a bid to shore up its economy as Nigeria is doing, adding that the country has a lot to learn from Nigeria in its economic diversification efforts