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SECURING MINING LICENSE IN NIGERIA
Mining, the world over is considered one of the sources of cheap raw material with which any nation can achieve fast and steady economic, social and infrastructural development hence the importance it commands.
In Nigeria, where over 34 industrial minerals have been discovered in commercial quantity, mining and other activities around it holds the potential of helping the country achieve fast and steady infrastructural development which it desperately requires, hence the desire of government to develop the sector in Nigeria.
There are two options available to a company or an individual to enter into the mining industry in Nigeria.
Through the acquisition of an existing mining property from the original owner. Approval must be obtained from the Ministry of Solid Minerals Development for such a purchase.
The first requirement is an entry permit into the mining industry in Nigeria.
Entry permits into the mining sector
Payment of the prescribe fee
Statement of financial capability
Statement of technical capability
Proof of statutory existence of company
Duration: Life
Prospecting Right/License
Payment of the prescribe fee
Certificate of entry into mining
Duration: 1 year renewals
Alluvial – maximum of 2
Bassalt - Maximum of 4
Lode –Maximum of 5
Exclusive prospecting Right/License (for area up to, but not exceeding 20.27 km2)
Same as above.
Duration: 1-5 years
Renewals depending on remaining reserves.
Mining Lease (gives right to mine specified land area 80 hectares)
Possession of a Prospecting Right, Exclusive Prospecting License or Special Exclusive License and Payment of the prescribe fee
Submission of a plan of the prospecting done, a schedule of the mineral value found and a statement or ore reserves. Submission of an environmental impact assessment and protection plan
Duration: Not exceeding 21 years renewals depending on remaining reserves.
Special mining Lease for an area larger than 80 hectares. Same as above
The process is handled by the federal ministry of mines and steel development.
It is important to mention that as part of measures to encourage foreign investment in the mining sector in Nigeria, 100% of mining assets is allowed in Nigeria.
Foraminifera in partnership with our associate can conduct geological surveys and other such field works. We are also in direct relationship with mine owner in need of partnership or that are interested in the outright sales of their property.
To continue reading this article and other investment opportunities in Nigeria, please do click on the link below
SECURING MINING LICENSE IN NIGERIA
Should you require our services in securing a mining license in Nigeria, please do contact us through any of the means below.
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Ejigbo, Lagos.
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HUMAN DEVELOPMENT PROGRAMMES AND TRAINING OPPORTUNITY IN NIGERIA
Our human development training programmes are designed to assist our client set-up their respective business on a sound footing.
The
training cuts across different segment of the economy to include
Agriculture, Export and Import, Food and Beverage, Manufacturing, Mining
and Quarry, Oil and Gas, Retail Industry, Telecommunication, Tourism
and Transportation and are facilitated by seasoned professionals in
their respective fields.
Please do visit the link below to access available training programmes
Foraminifera
Market Research is a dynamic market intelligence company providing
comprehensive market research solutions and strategic intelligence
services to start-ups and existing businesses in Nigeria.
We
prepare business plan, feasibility study and market report for the
small and medium scale industries and develop the entrepreneurial
capacity of our client with the aim of providing the much needed
business data in Nigeria.
In
keeping with our vision of providing services that adds value to our
clients business and resources to develop their business into a strong
and visible global brand, we would like to introduce to you to our
sister websites
www.nigeriaoilandgasportal.com {The one stop for the oil and gas industry in Nigeria}
www.marketreportportal.com {Marketing and Sales of Market Intelligence Report}
www.nigeriabusinessplace.com {Online Business Forum}
