Industry & Money

FG Revokes 924 Mining Licences

The federal government has revoked 924 dormant licences spanning exploration, mining, small-scale mining and quarrying.

The Minister of Solid Minerals Development, Dr Dele Alake, in a statement yesterday, said the withdrawal was after adequate notice was given to all concerned parties through the official Gazette of the Federal Republic of Nigeria No 227 which was published on December 27, 2023.

He said, “The notice gave all concerned parties 30 days to regularise their status, including clarifications on what caused the licence to be dormant. Thus, a total of 963 licencees were published and notified of the threat of revocation. No fewer than 39 either moved to site immediately or convinced the authorities of the challenges hindering their operations.”

He stated that the revocation included 528 exploration licences, 20 mining leases, 101 quarry licences and 273 Small Scale Mining Licences (SSML). Speaking further, the minister said that the action followed due process and fair consideration while it underscored the commitment of the federal government to implement the standard policy of “Use it or Lose it” as enshrined in mining guidelines. He, therefore, said, “Investors across the globe are now free to apply for any of the affected cadastral units on the basis of “first come, first served.”

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