• Enugu issues December deadline to mineral title holders to commence operations
The Senate is finalising a bill to tighten the Federal Government’s grip on Nigeria’s gold reserves. Nigeria is reported to have an estimated 600,000 tonnes of gold reserves, worth about $45bn.
Subsequently, the Federal Government is to acquire all land/property where gold reserves are found in commercial quantities across the federation when the Nigeria Gold Reserve Bill becomes law.
This is contained in a proposed piece of legislation Titled: “A Bill for an Act to Make Provisions for Nigeria Gold Reserve Framework And for Other Related Matters, 2024, sponsored by Senator Natasha Akpoti-Uduaghan (PDP, Kogi), the bill passed a second reading on June 5.
The bill seeks to among other things establish a gold reserve authority to be saddled with the responsibility for the implementation of the Minerals and Mining Act for the regulation of exploration and exploitation of Nigeria’s gold deposits.
This is as the Enugu State government at the weekend met with mineral title holders in the state, issuing them a December deadline for commencement of operations in a bid to restore its prominence as the leading coal mining state in the former Eastern Region of Nigeria.
In a communiqué issued at the end of a meeting between the state’s Mineral Resources and Environmental Management Committee (MIREMCO) and mineral title holders in the state, the parties resolved to initiate further stakeholders’ engagement to identify additional challenges in the sector and recommend solutions which would help foster more inclusive and effective mining in the state.
The communiqué emphasised the need to sensitise host communities on the objectives of MIREMCO and how they could assist in ensuring smooth business operations through cooperation between them and the miners, thereby reducing disruptions.
In his closing remark, the Chairman of MIREMCO and Special Adviser to the Enugu State Governor on Solid Minerals, Samuel Okoro, thanked the governor, Dr Peter Mbah, and the Minister of Solid Minerals Development, Dr Dele Alake, for allowing them to make their impact in the sector, promising to ensure full compliance with all relevant regulations and standards.
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