Luka Binniyat
2 September 2008
Abuja — Deep pocket in vestors in Mining from all over the world thronged the Transcorp Hilton Hotel recently as the Minister of Mines and Solid Minerals, Chief Sarafa Tunji Ishola, publicly presented a new Mineral map of Nigeria said to be filled with new exciting mineral findings.
Known as Airborne Geophysical Survey Digital Data, it has basic data and information on occurrence and spread of all minerals that occur in Nigeria using state-of-the-art technology to capture them.
"Let me state here", said Ishola, "more than 826,000 line kilometres were flown during the First Phase of the Airborne Geophysical Survey aimed at identifying structures hosting strategic minerals like gold, tantalite, lead and zinc," he said.
The minister said that with the quality digital data, new mineral finds have been made in Ogun State. He named them as Phosphate and Polymetalic mineral in Ifo and Ijebu-North Local Government Areas (LGAs) of the state.
He enthused that with the Airborne Survey Digital Data, investors in Nigeria will now enjoy increased availability of credible geosciences data.
According to Ishola, the new findings will fast-track the delineation of areas of solid mineral occurrences in Nigeria, facilitate regional geo-political mapping of rock types and associated economic mineral and stimulate the exploration for radioactive mineral occurrences.
He told the investors that Nigeria has put in place all the necessary legal framework and regulations for mining based on global best practices.
The Minister of State for Mines and Solid Minerals, Alh. Ahmed Mohammed Gusau, in his remarks, said that Nigeria has now reached a critical stage in its move to reposition mining as veritable contributor to Nigeria's economic growth.
"If we continue at this pace", he said, "mining will give oil a run for its money in the next few years."
He told the investors that Nigeria's door is open for any genuine investor, as there is in place juicy incentives, community relations and conflict management organs that will protect all investments.
He hailed the Airborne Geophysical Survey and urged investors to study the data and apply for mining leases or bid for some mineral blocs that will be put on sale soon.The Director-General, Nigerian Geological Survey Agency (NGSA), Dr, Siyan Malomo, told investors that the survey so far covered 24 states of the federation with the rest to be covered by the end of March next year.
"The basis for the choice of the areas to be covered under this phase", he said, "is the likelihood of occurrence of metallic mineralization that could be of immediate interest to investors", he said.
"The aspiration of government in the new minerals and metallic policy is that an orderly and developed mines and steel sector will accelerate economic, social and political growth of Nigeria by alleviating poverty, providing gainful employment, increasing the Gross Domestic Product and generating foreign exchange earnings far above that of petroleum," he said.
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