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Minister of Solid Minerals Development, Dr Oladele Alake, has said imminent reforms in the mining industry would separate genuine investors from adventurers.
Addressing the Mining Ministers Forum at the China Mining Week 2023 in Tianji, he said the new mineral development roadmap of the Federal Government would solve the lingering problems in the sector.
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The minister noted that the proposed Nigerian Solid Minerals Development Company would mobilise domestic and international capital and technology to enhance the sector.
Stressing the importance of geological data to mining finance and exploration, Alake pledged that the President Bola Tinubu administration would invest massively in critical data to attract investors, while putting in place social and governance standards to protect the environment.
The minister said government is currently engaging artisanal miners to formalise labour and small enterprises to widen access to training, extension services, machinery and credit .
He assured investors of orderly industrial environment, adding that the new security architecture for the sector would combine formal agencies of enforcement with community safety organs to combat threats and protect miners.
Alake advised prospective investors to include the industrial processing of minerals in their business plans.
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