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Nigeria discovers more minerals

12 June 2013, 16:04

Nigeria-  discovered 11 new minerals over the past year, the Minister of Mines and Steel Development, Musa Sada, said.

The discoveries  bring the official number of minerals in the county to 44.

The names of the newly-discovered minerals could not be ascertained.

The minister said during the period, more than 10 000 dormant and inactive titles were activated while all non-performing titles were revoked.

Subsequently, Sada said, this increased revenue generation and activities by title holders.

He warned title holders the Government will revoke rights if they failed to perform.

“Currently, 80 percent of more than 10 000 mineral licenses are held in drawers by people who do not need them and thus are not using them. People who have the rights are really not interested in developing minerals while people who deserve them are disadvantaged and are out there looking for these rights,” he said on Wednesday during a Ministerial Platform held in Abuja.

Mining contributes marginally to Nigeria’s Gross Domestic Product, accounting for 0,3 percent.

Prominent minerals include coal, gold, columbite, bitumen, iron ore and uranium.

 – CAJ News

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