Federal Govt To Bar Foreigners From Mining

Indications emerged on Thursday that the Federal Government may no longer issue licences for small-scale mining to foreign businessmen and companies.

Minister of Mines and Steel Development, Olamilekan Adegbite, gave the hint at a meeting with the Mining and Solid Minerals Group of the Lagos Chamber of Commerce and Industry in Abuja.

The LCCI group had in a position paper they presented to the minister, urged the Federal Government to keep foreigners out of small-scale mining in the country.

Adegbite said he agreed with the submission that foreigners should not be issued licences for small-scale mining.

The minister explained that foreigners who were currently engaged in small scale-mining, most of whom are Asians, ventured into the business after buying over hitherto idle licences held by Nigerians.

Noting that the Federal Government was not happy with the situation, the minister said some of the Nigerians who transferred their licences to the foreigners had been arrested.

Others who are yet to be apprehended would also be brought to book, Adegbite said.

“We are trying to clean up that act so that only Nigerians can operate at that level (small scale mining). While we can’t change the law on transfer of title we have to do something about that,” he added.

Adegbite stressed that the Federal Government wanted to attract the right sort of investors in the mining sector.

Source: Punch