The Nigeria Mining Cadastre Office (MCO) says that Dangote Group and six foreign companies are currently raising funds from the capital market to begin full-scale mining this year.

Mr Mohammed Amate, the Director-General of the office, in an interview with the News Agency of Nigeria (NAN) in Abuja listed the minerals as gold, coal, iron-ore and lead/zinc.

He said it had become imperative for the Dangote Group and foreign companies to raise funds from the capital market for the mining since the projects are capital-intensive.

Amate named the foreign companies as Kogi Mines Ltd, Segilola Nig. Ltd, Mines Geotechniques Nig. Ltd, Northern Numero Resources Ltd, West African Polaris Investment Ltd as well as Tongyi allied and Mineral Services Ltd.

He said that the companies had completed their exploration exercises and delineated the deposits, while obtaining mining leases (licences) to mine gold and other minerals in the country this year.

“Indeed, according to the reports we have received, most of the companies have commenced development and this will eventually lead to actual mining.

“No financial institution will be willing to fund any mining operation until the company carries out adequate bankable feasibility studies, under Joint Ore Reserve Committee specifications recognised internationally,'' he said.

He said Kogi Mines, an Australian mining firm, would mine iron at Agbaja in Kogi, while Segilola Nig. Ltd would mine gold at the Iperindo axis of the IIesha gold schist belt in Osun.

Geotechniques Nig. Ltd and Northern Numero Resources Ltd, both Australian companies, would mine gold in Kebbi, while Dangote Group would mine coal in Kogi and Benue states.

The West African Polaris Investment Ltd, a Chinese company, would mine tin and columbite in Nasarawa state and the Tongyi allied and Mineral Services Ltd, another Chinese company, would mine lead/zinc in Wasa, Plateau state.

Amate said that the registration and payment for mineral titles online, proposed to commence in 2015, might not start as scheduled because of the delay in the release of funds.

He said that arrangements for the smooth take-off of the registration scheme had been concluded.

He said that the online registration would facilitate speedy registration of mining titles, while promoting development of the mining sector, building foreign investors' confidence and creating more jobs.

CFCfan:
About time

abu12:
"while Dangote Group would mine coal in Kogi and Benue states."

Who will mine Enugu coal, since Dagote is scared of stepping his foot on ibo land?

Where are the rich ibo men to get licence and mine enugu coal mine, this business

IzonOwei:
exactly my thoughts...why cant our own people divest and explore other opportunities...what are they hoarding the monies for??...


We would just sit back and let dangote own the whole country...whats wrong with us??..

BDSMangela:
Solid minerals and agriculture is the way to go. Enough of this oyel BS

keyzid:
Na Dangote suppose come dey mine our gold. Enh? Wetin do the govt? Foolish people gbogbo

abu12:
"while Dangote Group would mine coal in Kogi and Benue states."

Who will mine Enugu coal, since Dagote is scared of stepping his foot on ibo land?

Where are the rich ibo men to get licence and mine enugu coal mine, this is business and stop blaming Dangote.

Imokay:


Since Ibo are still shouting for Biafra and opening embassy about, most investments will shift elsewhere while waiting if they will develop sense and calm down. The unfortunate thing while waiting is most of them would have migrated to no man lands all over Nigeria where they will help the locals to develop their land like they did to Lagos.

Ibos driving investments away with Biafra agitation