Nigeria Woos Canadian Mining Investors

Minister of Mines & Steel,  Mohammed  Sada, has commenced moves to woo investors from Canada into Nigeria’s  mining sector.

Sada who  spoke to participants during the recent Prospectors and Development Association of Canada, (PDAC) international conference held in Toronto, Canada,said  the reforms, which are currently taking place in the sector, makes investment very attractive.
He added that the country has at least 34 mineral types spread across the country, out of which emphases are currently being placed on gold, lead/zinc, iron ore, oil sands, coal, gemstones and dimension stones.

A statement made available by the Ministry in Abuja noted that the contributionof the mining sector to Nigeria’s economy is just about one per cent in spite of its enormous potentials.

Recent reforms introduced by the government has led to the evolvement of a strong regulatory component, human and institutional capacity building, generation of reliable data and a framework for sustainable environmental and social practices arising from the lessons learnt from the nation’s experience in the oil and gas sector. The minister said the Nigerian Mineral and Mining Act of 2007 guarantees  investors a level playing field, security of tenure and transferability of mineral rights.About 22,000 mining stakeholders and 600 exhibitors from around the world participated at the annual event, which featured workshops, trade shows, exhibitions and networking session.

source : Thisday