Post by Trade Coach on Aug 4, 2022 17:06:34 GMT 1
New Mining Policy Eliminates Export Of Unprocessed Solid Minerals — FGN
Finally, the Federal Government of Nigeria (FGN) has put in place a mining policy that bans the export of unprocessed solid mineral in any form from Nigeria.
The Minister said that it is a game-changer for miners and investors alike. It will also create massive jobs and wealth for all players.
The Minister of Mines and Steel Development, Arc Olamilekan Adegbite, recently, disclosed that the newly approved mining policy by Federal Executive Council (FEC), makes it unnecessary for miners and investors to export unprocessed solid minerals in raw form.
The Minister explained that for the mining sector not to go the way of the oil and gas industry, where Nigeria still exports crude oil and gas, which also is traded for refined petroleum products, hence the need for solid minerals to be processed and valued added before export so Nigerian miners and investors would get better value for their money.
He said: “While mining is still at its infancy we can make sure that we do the right thing from the beginning, hence we started this policy and this regulation.
“Essentially, what we are saying is we do not want raw ores to be exported from Nigeria.
“There are instances of this. We have kaolin in in Nigeria. Kaolin is something that is mined from the ground.
“What is done normally is that our miners export this kaolin abroad and the end-users in Nigeria, which is the pharmaceutical, cosmetic and paint industries, they now import this semi-processed kaolin for their own use in their factory.
“And of course, that is a monetary waste of scarce foreign exchange. We also in the process export our jobs out there, and we lose a lot of jobs. So if we’re able to add the value locally, we’ll keep the jobs we create worldwide, which is what this policy is all about.
“So if we are able to add the value locally, we will keep the jobs, we create wealth for our people, which are what this policy is all about.
“And today we are able to get the Federal Government's official stamp on this.
According to the Minister, the Federal Executive Council, FEC, was approached with this regulation, sometime in February 2021, with few amendments made at the council level to pass the proposal.
“And today we approached Council and we got our final approval. So the regulation is now official.
He also expressed concern over plight of miners who don’t get value for their labour, time, and money.
“We will discourage, which I don’t want to say outright ban of anybody exporting raw ore out of Nigeria.
“By this you are also creating a new line of business for people who do not want to mine but can be processors and they can form a cluster
and look at what people are mining, and all you need to do is bring your processing plant to that place. You process their minerals for a fee and give them back.”
He also expressed optimism that it might sound small but a giant step, and in future will bring about big industries.
He also stated that all minerals in Nigeria will be processed, used locally or exported.
“This is so that our minerals are used locally to enhance our economy to create jobs, and create wealth for our people.”
Meanwhile, on the sidelines, while answering questions during the briefing he said that the banks would be convinced to come on board, whereby ongoing construction of processing centres in the six geopolitical zones, but are still demonstration projects, and are not exclusive to the government, which also the private sector can come in.”
Also the Minister of State for Mining and Steel Development, Senator Gbemisola Saraki, said, “Also the impact it will have in a way, indirect jobs are created, and if you look at what’s happened within clusters where miners are, it does not necessarily mean that you have to get involved in that but it allows in anchoring processing plants.
“This is a great catalyst within the mining industry, and changing the narrative.” This is a great step in the right direction as a lot of economic harm had been done to the mining industry in the past.
Our company is one of the best companies in Agro-Export Business in Nigeria today, we train individuals and corporate organizations on how to do Export Business the right way; if you are interested, please contact the admin of this forum now for further details.
Finally, the Federal Government of Nigeria (FGN) has put in place a mining policy that bans the export of unprocessed solid mineral in any form from Nigeria.
The Minister said that it is a game-changer for miners and investors alike. It will also create massive jobs and wealth for all players.
The Minister of Mines and Steel Development, Arc Olamilekan Adegbite, recently, disclosed that the newly approved mining policy by Federal Executive Council (FEC), makes it unnecessary for miners and investors to export unprocessed solid minerals in raw form.
The Minister explained that for the mining sector not to go the way of the oil and gas industry, where Nigeria still exports crude oil and gas, which also is traded for refined petroleum products, hence the need for solid minerals to be processed and valued added before export so Nigerian miners and investors would get better value for their money.
He said: “While mining is still at its infancy we can make sure that we do the right thing from the beginning, hence we started this policy and this regulation.
“Essentially, what we are saying is we do not want raw ores to be exported from Nigeria.
“There are instances of this. We have kaolin in in Nigeria. Kaolin is something that is mined from the ground.
“What is done normally is that our miners export this kaolin abroad and the end-users in Nigeria, which is the pharmaceutical, cosmetic and paint industries, they now import this semi-processed kaolin for their own use in their factory.
“And of course, that is a monetary waste of scarce foreign exchange. We also in the process export our jobs out there, and we lose a lot of jobs. So if we’re able to add the value locally, we’ll keep the jobs we create worldwide, which is what this policy is all about.
“So if we are able to add the value locally, we will keep the jobs, we create wealth for our people, which are what this policy is all about.
“And today we are able to get the Federal Government's official stamp on this.
According to the Minister, the Federal Executive Council, FEC, was approached with this regulation, sometime in February 2021, with few amendments made at the council level to pass the proposal.
“And today we approached Council and we got our final approval. So the regulation is now official.
He also expressed concern over plight of miners who don’t get value for their labour, time, and money.
“We will discourage, which I don’t want to say outright ban of anybody exporting raw ore out of Nigeria.
“By this you are also creating a new line of business for people who do not want to mine but can be processors and they can form a cluster
and look at what people are mining, and all you need to do is bring your processing plant to that place. You process their minerals for a fee and give them back.”
He also expressed optimism that it might sound small but a giant step, and in future will bring about big industries.
He also stated that all minerals in Nigeria will be processed, used locally or exported.
“This is so that our minerals are used locally to enhance our economy to create jobs, and create wealth for our people.”
Meanwhile, on the sidelines, while answering questions during the briefing he said that the banks would be convinced to come on board, whereby ongoing construction of processing centres in the six geopolitical zones, but are still demonstration projects, and are not exclusive to the government, which also the private sector can come in.”
Also the Minister of State for Mining and Steel Development, Senator Gbemisola Saraki, said, “Also the impact it will have in a way, indirect jobs are created, and if you look at what’s happened within clusters where miners are, it does not necessarily mean that you have to get involved in that but it allows in anchoring processing plants.
“This is a great catalyst within the mining industry, and changing the narrative.” This is a great step in the right direction as a lot of economic harm had been done to the mining industry in the past.
Our company is one of the best companies in Agro-Export Business in Nigeria today, we train individuals and corporate organizations on how to do Export Business the right way; if you are interested, please contact the admin of this forum now for further details.
