Nigerian Govt achieving giant strides in mining – Official

The Ministry of Mines and Steel Development says it has achieved giant strides in mining since the advent of the current administration of President Muhammadu Buhari.

Mr Yunusa Muhammed, the Acting Director, Investment, Promotion and Mineral Trade Department ( IPMT,) disclosed this to newsmen on Monday in Abuja.

Muhammed said that the ministry was able to woo some mining investors into the country in the last four years through the IPMT department.

He said that since the creation of the IPMT department four years ago, it had achieved the projections of the Federal Government to address investment in the solid mineral sector.

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“The mining sector is becoming vibrant during President Muhammadu Buhari’s administration; IPMT department was created about four years ago to showcase the mineral potentials of the country that were neglected for long.

“The department promotes and interfaces with industry players within and outside the country; we also bring in solution providers technology, academia and funding managers within and outside this country.

“Mining has a long gestation period and capital intensive, there is no way we can get fund managers within the country only, we participate in the International roadshow event, such as in Canada, Australia, South Africa where mining is striving,” he said.

He said that the IPMT had been able to attract some mining investors such as Segilola Gold Mining Company, a Canadian investor with an investment portfolio of 900 million dollars.

He said that Segilola had recorded successes in its gold mining in Osun.

He said that Africa Natural Resources company was another company located along Abuja-Kaduna State with an investment portfolio of 600 million dollars working assiduously to commence an iron plant soon.

(NAN)