Government to amend 30-year-old policy on solid minerals, says Fayemi

The Minister of Mines and Steel Development, Dr. Kayode Fayemi, has disclosed that the country would amend hostile laws against mining activities.Fayemi made the disclosure yesterday at a National Mining Summit in Abuja.

He said the Federal Government started the amendment process to deepen reforms in the sector, attract new investors and stakeholders in the mining ecosystem.Fayemi explained that the country was working toward recovering the three decades of lost ground due to these policies.

He said: “Most countries in the West African sub-region had since developed a country-level strategy and the solid minerals ministry has reports of achievements under my ministerial counterparts.”

He explained that African Mining Vision (AMV) is one of the most promising instruments that have united the continent towards achieving its goals through the building of economic and social linkages.

“We have however realised that the country cannot go far with its agenda if it does not feature strongly in the reckoning of international mining community.“We therefore consider it important to have a platform for bringing international partners in the sub-region to share ideas and compare notes on how to collaborate in making our resources to work for us,” he said.

The minister said the situation prescribed the integration of mining into industrial and trade policy at regional level and encouraging collaboration and healthy competition among countries.

Fayemi explained that his ministry partnered Afrocet Montgomery and Deloite to host CONMIN West Africa to signal the renaissance of our mining sector and the lead driving objectives of the AVM.The Regional Director of Afrocet Montgomery, George Pearson, said they have successfully promoted deep-rooted African events.

“We have aligned ourselves with the policy direction of Nigerian government, which seeks to reposition the mining sector.“Afrocet’s understanding of the market in West Africa is ideal for a partnership to build on exhibitions and expand the portfolio in line with changing markets in Africa,” he said.