Russia, Afreximbank To provide $1.46bn For Ajaokuta Completion   The Federal Government has said the Russian government and Afreximbank will provide up to $1.46bn to fund the resuscitation of the Ajaokuta Steel Company Limited. The Minister of Mines and Steel Development, Olamilekan Adegbite, who disclosed this in...

Chinese Mining Activities In Nigeria Not Beneficial, Minister Says   The Federal Government has frowned on China’s domination of the Nigerian mining sector, noting that the development had not helped the country’s economy. Chinese businessmen and firms, alongside other Asians, are the major players in the exploitation...

Nigeria’s Mining Sector Largely Underdeveloped - Minister   Minister of Mines and Steel Development, Olamilekan Adegbite, has said that Nigeria’s mineral and mining sector is still largely underdeveloped with the country attracting only 0.12 out of the five percent share of exploration investment in mineral resources...

FG Concerned Over Decline In Applications For Mining Licences   The Federal Government on Thursday expressed concern over a decline in the number of applications for mining licences in the country. Records presented by the Nigerian Mining Cadastre Office, an agency in the Ministry of Mines and...

Only N95m Disbursed From N2.5bn Minerals Fund, Minister Says   Only a sum of N95m has been disbursed from the N2.5bn Solid Minerals Development Fund, which was established in 2016. The fund was meant to build the capacity of Nigeria’s artisanal and small-scale miners in line with...

Federal Govt Seeks Increased Revenue From Mining   The Federal Government is seeking the collaboration of stakeholders in the mining sector to generate more revenue from the country’s solid mineral deposits. Minister of Mines and Steel Development, Olamilekan Adegbite, informed a delegation from the Mining Association of...