The Federal Government, through the Ministry of Solid Minerals Development, has formalised the activities of 250 small and artisanal miners into cooperatives as part of efforts to help artisanal miners transition away from illegal mining.
The Minister of Solid Minerals Development, Dele Alake, disclosed this on Tuesday at a briefing to announce the 9th edition of Nigeria Mining Week.
“As of October 2024, no fewer than 250 new cooperatives have been registered by the Artisanal and Small Scale Mining Department. This is cheering news and confirms the effectiveness of our two-pronged strategy to combat illegal mining by encouraging artisanal miners to move from illegal mining to formalised cooperatives.
“Furthermore, we have also recorded good news in trading. Our figures for October 2024 show that we now have no fewer than 150 buying centres,” Alake said.
The minister explained that the initiative is part of efforts to shift the mining sector from raw extraction to value addition, processing, and local beneficiation.
Alake highlighted that Nigeria boasts a rich array of over 44 types of minerals, which remain underutilised, presenting a significant opportunity for economic transformation.
He further reiterated the government’s objective to transform Nigeria’s mineral wealth into industrial and economic power, generating jobs and supporting local businesses in ways that positively impact the economy.
“Our goal is to retain the wealth generated within Nigeria’s borders, empowering local industries and creating job opportunities that will reverberate throughout the economy.”
“Strengthening this subsector empowers countless communities, creating prosperity at a grassroots level that uplifts families and builds a stronger economy,” he emphasised.
Alake also announced several key projects set to enhance Nigeria’s mining capabilities, including lithium and rare earth processing plants by El Thahadat in Kwara and Kebbi states, a tantalite processing plant in the FCT by Hasetins, and the establishment of a new gold refinery in Gwarinpa within the next quarter.
“Recall that a major component is the establishment of the Nigerian Solid Minerals Company. Let me announce that significant progress was made in this regard over the past week, leading to the incorporation process by the Ministry of Finance,” Alake added.
Speaking about Nigeria Mining Week, set to take place from November 18-20, Alake stressed that the theme, “From the Inside Out: Building the Mining Sector to be the Cornerstone of Nigeria’s Economy,” reflects the government’s strong commitment to reshaping the mining sector into a key driver of Nigeria’s economic prosperity.
He reiterated that the sector, guided by President Bola Tinubu’s Renewed Hope Agenda, is central to the administration’s strategy for economic diversification, job creation, and community development.
He said the three-day event will feature a comprehensive programme addressing issues such as environmental reforms, financing innovations, and the global positioning of Nigerian minerals. Panel discussions and workshops will explore critical topics including infrastructure, mineral governance, and gender inclusion in mining.
“The 9th edition of Nigeria Mining Week promises to be a landmark event, showcasing Nigeria’s commitment to becoming a dominant player in the global mineral value chain and reinforcing the mining sector’s role in the nation’s economic development,” the minister concluded.