The Federal Ministry of Mines and Steel Development (the 'Ministry') recently issued new mining regulations titled the Nigerian Minerals and Mining Regulations 2011 (the 'Regulations') which is intended to establish a more coordinated and accountable solid minerals sector in the country and to stamp out the discretionary grant of mineral titles.
The mining sector is governed by the Nigerian Minerals and Mining Act 2007. The sector is primarily regulated by the Ministry of Mines and Steel Development and the Mining Cadastre Office. ... In 2021, Nigeria became a participant in Opening Extractives, a global five-year programme that aims to improve the availability and use of …
given to Nigerian indigenous companies and firms in the award of licences and leases. b. The Bill introduces a Nigerian Solid Minerals and Metallurgical Content Development (Special) Fund (the Fund) that would be exclusively administered by the Directorate and utilized for the execution of projects that will enable artisans acquire equipment
Nigeria ENR Advisory 172 Mining 2021 the minerals in the ground. Title to minerals transfers from the federal government to the mining rights holder upon the lawful …
Under the Nigeria's Minerals and Mining Act, 2007, only corporations can obtain a mining lease in Nigeria. And when a mining lease is issued, the duration is for a period of 25 years. Small Scale Mining Lease: The Small Scale Mining Lease, as the name appears, is a smaller version of mining license. The procedure for obtainment of the SSML is ...
This act is meant to consolidate and reform the law relating to mineral resources to give effect to article 244 of the Constitution;to strengthen the administrative structures for the effective management of the mineral subsectorto provide for the acquisition, management and dissemination of geological information; to regulate the licensing and participation of …
NIGERIAN MINERALS AND MINING ACT. An Act to repeal the Minerals and Mining Act, No. 34 of 1999 and re-enact the Nigerian Minerals and Mining Act 2007 for the purposes of regulating all aspects of the exploration and exploitation of solid minerals in Nigeria; and for related purposes. [29 th March, 2007] [Commencement.]
The Nigerian Minerals and Mining Act 2007 (the 'NMMA' or the 'Act') Enacted by the National Assembly pursuant to its constitutional mandate, the NMMA is the principal law governing the mining sector. ... See section 1 of the NMMA and African Natural Resources & Mines Ltd v SS Minerals Resources Ltd & 3 ORs (2021) LPELR-55151(CA) …
Nigeria May 27 2021 ... of the Federal Republic of Nigeria (LFN) 2004 (the Mining Act), the federal government has title to all mineral resources beneath or upon any land within Nigeria, including ...
Kwadwo Sarkodie comments on Nigeria's new mining law in African Business. ... Nigeria's planned amendments to Minerals and Mining Act; Related …
According to Nigerian Minerals and Mining Act, all operators in the mining industry shall be granted an exemption from payment of customs and import duties in respect of plant,machinery,equipment and accessories specifically and exclusively imported for mining operations. As a result, the impact
Mining accidents and fatalities among the Artisanal and Small-scale miners (ASMs) occur in the process of mining metals, minerals, and energy materials (i.e., not construction materials), as shown in Table 1.Thousands of miners die from these mining accidents each year, especially in coal and hard rock mining [].Although surface mining is usually less …
An Act to repeal the Minerals and Mining Act, No. 34 of 1999 and re-enact the Nigerian Minerals and Mining Act 2007 for the purposes of regulating all aspects of the exploration and exploitation of solid minerals in Nigeria; and for related purposes. [2007 No. 50.] [29th March, 2007] [Commencement.] ENACTED by the National Assembly of the ...
A look at some of the key legal and practical considerations surrounding mining rights and title in Nigeria, including the extent of state control, renewal and …
Report on NEITI Solid Minerals Industry Audit –Impact built on blocking leakages to grow revenue Page | ii First Published September 2023 ISBN: 978-978-781-877-0 Published by NEITI Secretariat
"That the House do receive the Report of the Ad–hoc Committee on Petroleum Industry Bill on a Bill for an Act to Provide Legal, Governance, Regulatory and …
18 November 2021 Premium Times (Abuja) By Felicia Dairo The announcement is coming at a time experts called for an amendment of the Act. Towards ensuring growth and …
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.
In addition, the Nigerian Minerals and Mining Act, 2007, section 3 (c) identifies lands excluded from mineral exploration and exploitation to include those occupied by any town or village. Google Earth, an open-source app using satellite imagery, aided TheMail's investigation in ascertaining the distance between the blasting site and …
"The sector contributed 0.85 percent in 2022 and 0.63 percent in 2021, representing a 32 percent year on year growth over 2021. ... According to KPMG, the Federal Executive Council on April 5, 2023, approved a draft amendment of the Nigerian Minerals & Mining Act ("the Act"), 2007 – the principal legislation regulating the mining …
Team lead, Mining Practice at PwC, Cyril Azobu, during his opening speech, said the firm received a letter of award from the Ministry of Mines and Steel Development on 11 November 2021 to act as ...
In 2021, the average price of one tonne of battery-grade lithium carbonate was $17,000 5. ... Act (IDITRA), in addition to the three to five years tax holiday currently available in the Nigerian Minerals and Mining Act. Such exclusive incentives will facilitate the influx of big miners into the Sector, improve job creation, and enhance possible ...
Following the enactment of the Nigerian Minerals and Mining Act, 2007, the Mining Cadastre Office was established. The mandate of the Office is the administration and management of Mineral Titles. ... System (SIGTIM) which had two versions and was in use from 2007 to 2012 (SIGTIM version 1.0) and from 2012 to December, 2021 (SIGTIM …
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.
Grant or 46.-. ( I) Subject to the provisions of this Act, the. right to search for or Mincral exploit Mineral Resources is obtained through one ofthe following minerai titles titles. in the form of- Nigerian Minerals and Mining Act 2007 No. 20 A …
The total revenue from the sector over the last fifteen years (2007 – 2021) was 814.59bn. This amount is significantly low compared to the economic potential of the sector. The FGN through the MMSD should establish a Special Purpose Vehicle (SPV) dedicated to de-risking the solid minerals sector value chain. Furthermore, the MMSD and MCO ...
In 2019 the government made the decision to revise the Nigeria Minerals and Mining Act (NMMA), the law that has governed the sector since it came into force in 2007. However, as a result of the disruption caused by the Covid-19 pandemic, as well as other international and domestic challenges, the passage of the revised law was delayed.
Globally, the mining industry is experiencing a boom as there is an increase in the need of critical minerals and new mining technologies, the Nigerian Mining is not left out in this change, this document highlights the progress made and the steps to …
Beyond the Mineral and Mining Act of 2007, Section 17 (2d) of Nigeria's constitution states that a community's natural resources must not be exploited except for the good of the community.
In February 2007, the Senate of Nigeria approved the Nigerian Minerals and Mining Bill, repealing the Minerals and Mining Act of 1999. The purpose of the Bill has been the regulation of all aspects of exploration and exploitation of solid minerals and water in the country, including environmental issues related to mining activities.