New investors indicate interest in mining – FG

By Gabriel Ewepu

THE Federal Government has said that new investors are trooping into the mining sector to do business, while others are expanding and diversifying.

This was disclosed by the Special Adviser on Media to the Minister of Mines and Steel Development, Olayinka Oyebode, while speaking on recent developments and efforts by the government to move the sector forward.

According to Oyebode, more investors are going for their mining licences due to the current sanitisation of the sector by the Minister, Dr Kayode Fayemi, with other collaborating government authorities.

He stated: “There is a growing interest on daily basis because the sector is better sanitised, illegal mining is frontally attacked and taken out of the sector.

“More investors are going for their licences to commence operation in the sector. But beyond the licences, other people are coming in for partnerships, collaborations for deployment of technology.

“These moves have indicated a lot of changes taking place in the sector and there is increase in revenue generation from the sector, according to the National Bureau of Statistics record.

“Things are really picking up in the sector now because there are more interest and investments. Let me also point out that those who have investments in the sector are also expanding their investments.

“All these are indices of government, pointing that the sector can diversify the economy. More investment interests and revenue have increased.

“Big players like Lafarge, Dangote are expanding. The big names in coal mining like Eta Zuma are expanding. Dangote is also going into coal mining now. Even the big names are trying to grow bigger and the upcoming ones because of the various investments they have put in are also coming up, and the ease of doing business in the ministry has contributed to this development.”

He maintained that the government has remained resolute to diversifying the economy through the solid minerals sector and that has been proven by the huge interests indicated by investors within and outside the country.

The post New investors indicate interest in mining – FG appeared first on Vanguard News.

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