Nigeria to offer 12.7bn naira mining contract to eight firms
ABUJA – Nigeria will offer a 12.7-billion naira ($41.6-million) mining contract to eight companies in exploration and consultancy, its junior mining minister said on Wednesday, adding both foreign and local firms were encouraged to participate.
Nigeria's economy, one of Africa's largest, has been built largely on its rich crude oil reserves, leaving other sectors to stagnate. In an attempt to diversify, President Muhammadu Buhari's administration is now seeking to build up other sectors, including mining, though results have been mixed, according to economic data.
"Today the Federal Executive Council (Nigeria's cabinet) approved the contract for exploration and consultancy on some of our targeted minerals - like gold, industrial minerals, earth metals, iron ore - for four companies in exploration and four companies in consultancy," Abubakar Bawa Bwari, the minister of state for solid minerals, told reporters after the cabinet meeting.
Bwari said the exploration and consultancy work would result in data that would encourage potential mining firms to invest in Nigeria.
"Our major challenge is the bankable data, most mining companies will not want to come into your country when they are not sure of what they are going to meet," he said.
Comments
The
functionality
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation