statutory requirements for investing in exploration and mining of mineral resources in nigeria

The sample is composed by a series of cross-country datasets for the period 1996 to 2014. It includes the following variables for each year: the percentage of …

15 SS.30(1) and 85(1) Minerals and Mining Act, 1999: a right of preemption in the minerals discovered, won, obtained or processed is reserved to the Federal Government. Under S.30 (2) of the Act, minerals discovered during prospecting operations may only be removed with the consent of the Minister.

Despite abundant solid mineral resources, which include gold, lead, zinc, coal, bitumen, iron ore, limestone and barite, the Nigeria mining industry only contributes 0.15 percent to the nation's GDP. The contribution, projected to hit 0.34 percent in 2025, is far from the three percent target set out in the country's mining roadmap 1.

Queensland Resources Industry Development Plan. QRIDP is our plan for a vibrant and sustainable critical minerals industry that boosts our economy and supports global decarbonisation. Links to resources for Queensland's mining and petroleum and gas industries, including forms, maps and data, consultations and current initiatives.

The principal law is the Nigerian Minerals and Mining Act 2007 (Chapter N162 Laws of the Federal Republic of Nigeria (LFN) 2004 (the Mining Act) and the Minerals and Mining Regulations 2011 issued pursuant to the Mining Act. The principal regulatory bodies are the Ministry of Mines and Steel Development (MMSD) – comprising the Mines Inspectorate

The Mineral Buying Centre License is required for companies or industries willing to process mineral resources in Nigeria. It is also relevant for any companies that choose to warehouse mineral resources, either temporarily or permanently. The purpose of the license is to regulate and authorize any warehouse where mineral resources will …

Nigeria has a range of world class minerals resources, such as gold, limestone etc. In addition, it has a variety of other occurrences (more than 45) of medium significance albeit important for small scale mining and industrial development. The world class minerals in Nigeria warrants a closer look especially by foreign mining companies.

This work seeks to highlight the regulatory framework of the Nigeria Mining industry and the challenges of mining operations in Nigeria with a view to proffering solutions. Discover the world's ...

The Province is committed to ensuring that B.C. remains a leader in mining regulation and oversight. Natural resource ministries take a collaborative approach to ensure compliance across the Province. Mining companies are required to be aware of and maintain compliance with their regulatory requirements throughout the life of the mine.

Nigeria is enriched with over forty (40) types of minerals including marble, gypsum, lithium, silver, granite, gold, gemstones, bentonite, iron ore and talc. The mining and solid mineral sector of the extractive industry in Nigeria has always been a viable greenfield and is now getting the attention it deserves, having been earmarked as a key ...

Exploration for all mineral resources except hydrocarbon (oil and gas) Evaluation of Mineral resources; Mineral Promotion activities; Generation of credible data on exportable mineral resources such as gold, silver, lead and zinc, copper and other commodities to attract foreign direct investment to Nigeria.

Section 5 of the NMMA- empowered to keep and maintain a register of mineral title; regulate the issuance of all types of mineral titles; and is a statutory body solely established for the administration and management of mineral licenses, leases and permits, with zonal offices in the six geo-political zones of Nigeria.

Exploration Results, estimates of Mineral Resources, estimates of Ore Reserves and Production Targets. 23) The factors that a Mining Reporting Entity (and for that matter, any Reporting Entity) should consider when determining whether the disclosure of particular estimates are material include: a) its market capitalisation;

A guide for exploration, mining and prospecting licence holders and work authority holders. Information for applicants and holders of tenements issued under the Mineral Resources (Sustainable Development) Act 1990. It describes the compliance obligations of a tenement holder. Other relevant publications are: Mineral Resources (Sustainable ...

The NMC is a Federal Government Public Statutory Corporation established by Decree number 39, as contained in Gazette No 54, Vol. 59 of 1972, and amended by Decree 34 of 1976 (now NMC Act, Cap. 317, 1990). The NMC as provided by the Decree was to play a dominant role and to act as a catalyst in the development of the mining industry in …

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.

As explained in part one of this series, the Kingdom of Saudi Arabia (the Kingdom) is implementing a number of structural reforms to the mining sector, which seek to stimulate private sector investment by …

In the first quarter of 2022, Nigeria recorded an average daily oil production of 1.49 million barrels per day (mbpd), accounting for 6.63% of total GDP. Nigeria is among the world's top five exporters of liquefied natural gas (LNG). The country's exports of natural gas rose by 14% in 2021, accounting for 9.24% of total exports.

Major considerations for any investor under this head are licensing and permit requirements; conversion of exploration rights to mining rights; duration of mining …

By the provisions of the Minerals and Mining Regulation 2011, a company who is qualified may submit an application for an exploration license. A mining lease has a duration of 25 years and can be renewed. The grant of Mining Lease is coordinated by the Federal Ministry of Mines and Steel Development (MMSD) under the Mining Cadastre …

The principal law is the Nigerian Minerals and Mining Act 2007 (Chapter N162 Laws of the Federal Republic of Nigeria (LFN) 2004 (the Mining Act) and the Minerals and Mining …

exploration and exploitation of mineral resources in Nigeria: (a) Reconnaissance Permit: This permit allows, on a non-exclusive basis, reconnaissance activities on all land within Nigeria that is available for mining operations. The permit is issued and valid for a period of 1 (One) year and may be renewed upon

The Mines and Minerals (Development & Regulation) Act (MMDR), 1957 is the principal legislation that governs the mineral and mining sector in India. The Act is a central legislation in force for regulation of mining operations in India. Under the act, minerals are taken under two broad heads, major minerals and minor minerals. The list …

Starting from 1late 90s, there was national discourse on the sector's problems and how to attract private investment leading to the passage of the Nigerian Mineral and Mining Act in 2007, followed ...

Nigeria's mining laws are handled by the Ministry of Solid Minerals Development which oversees the management of all mineral resources. 3.1.1 Nigeria Minerals and Mining Act Of 2007 'The Act' The Nigerian Minerals and Mining Act of 2007 was passed into law on March 16, 2007 to regulate all aspects of the exploration and exploitation of ...

15 SS.30(1) and 85(1) Minerals and Mining Act, 1999: a right of preemption in the minerals discovered, won, obtained or processed is reserved to the Federal …

The right to explore or exploit minerals in Nigeria is evidenced by the grant of a mineral title. In a bid to regulate all aspects of exploration and exploitation of solid minerals in the country ...

The strategies that can be used for exploration of. solid mineral in Nigeria should includes resource control policy, exploration of mineral resources should be private sector, the. tenure of the ...

These Regulations may be cited as the Nigerian Minerals and Mining Regulations, 2011. 2. In these Regulations— (l) Unless the context indicates otherwise any word to which a …

Nigeria is endowed with various mineral resources, like gold, iron ore, coal, bitumen, baryte, lead–zinc, limestone, copper, lithium, and many other minerals and metals …

Government policies must be focused on attracting exploration investment as well as effective regulation and monitoring of the minerals and mining subsector and providing better security and needed …

1. focusing on the significant changes in the policy and legal regime and the impact of such. changes on the overall development of the mining sector. The chapter reveals that Nigeria's mining ...

A 486 2007 No. 20 Nigerian Minerals and Mining Act Functions of the Minister. metres of a railway, or which isthe site of, or within fifty metres of, any government or public building, reservoir, dam or public road; (d) that is subject to the provisions of the National Commission for Museums and Monuments Act, Cap.

Abstract. Nigeria, the most populous nation and largest economy in Africa is endowed with abundant mineral resources, including energy fuels, industrial minerals, gemstones, and metallic minerals ...

The major requirements for obtainment or grant of mining lease are as follows: Exploration License. Certified true copy of …

The vast economic potentials of the mining sector in Nigeria where government holds all mineral rights has been widely reported (Merem et al., 2017). Mining of mineral resources is under the exclusive list of the Federal Government of Nigeria and no State or Local council has right to explore, prospect or exploit mineral resources

Nigeria's lithium is acclaimed to be of high grade given it's lithium oxide content which ranges from 1 percent up to 13 percent, whereas the global standard for Lithium exploration and mining starts from 0.4 percent lithium oxide content. Indeed, Lithium exploration and processing has a rich value chain that can catalyze industrial development