- FG Awards Contracts for Mapping Gold Deposits, Others
The Federal Government has awarded five contacts for the mapping of gold and other key minerals’ deposits across the country.
The Minister of State for Mines and Steel Development, Mr Abubakar Bwari, disclosed this in an address delivered at the Nigeria Business and Investors’ Forum held in Zurich, Switzerland.
In the address, which was made available to our correspondent in Abuja on Tuesday, Bwari also stated that the Federal Government had cleared impediments that stood on the way to the investment of $3.32bn in the mining sector.
According to the minister, the exploration contracts include the use of satellite images, electromagnetic and gravity surveys as well as drilling to establish and map the deposit of minerals such as gold, platinum, barites and iron ore.
Bwari stated, “So far, five exploration work contracts for gold and platinum group metals, rare earth metals, base metals, barites and iron ore along with corresponding consulting services have been awarded through competitive bidding to, among others, carry out resource mapping for potential mineral prospectively targets using satellite imagery, electromagnetic and gravity surveys, including exploratory core drilling.
“Electromagnetic survey data for three highly prospective gold and lead zinc zones have also been acquired and are available for acquisition.
“These activities are in line with the implementation strategies for actualising Nigeria’s aspirations regarding growing mining in Nigeria, as contained in the Roadmap for the Growth and Development of Nigeria’s Mining Sector, which seeks to, among others, generate geosciences data needed to attract mining investors into Nigeria’s mining sector, leading to increased jobs and wealth creation, enhanced revenues for government and reduction in the migration of our youths to western countries.”
He added, “As proof of government’s support to investors in the Nigerian mining sector, investors in the sector that had projects that were hindered from taking off by bureaucratic challenges were invited to an Economic Recovery and Growth Plan Focus Lab where officers charged with the responsibility of granting necessary approvals to such projects were also invited under the leadership of the Vice-President for the purpose of resolving such challenges.
“This exercise succeeded in resolving issues that hindered some mining projects from taking off, leading to the leverage of about $3.32bn private investments into mining projects covering gold mining and refining, foundry works, lead/zinc exploration and production, tin, tantalite and columbite mining and processing.”
