924 idle licenses for exploration, mining, small-scale mining, and quarrying have been revoked by the federal government.
In a statement released on Wednesday, Dr. Dele Alake, the Minister of Solid Minerals Development, stated that the withdrawal came about following sufficient notification to all relevant parties by publication in the Federal Republic of Nigeria’s official Gazette, No. 227, on December 27, 2023.
He said, “The notice gave all concerned parties 30 days to regularise their status, including clarifications on what caused the licence to be dormant. Thus, a total of 963 licencees were published and notified of the threat of revocation. No fewer than 39 either moved to site immediately or convinced the authorities of the challenges hindering their operations.”
He stated that the revocation included 528 exploration licences, 20 mining leases, 101 quarry licences and 273 Small Scale Mining Licences (SSML).
The minister went on to say that the action was taken in accordance with due procedure and fair deliberation and that it demonstrated the federal government’s commitment to enforcing the standard mining rules that stipulate “Use it or lose it.”
“Investors across the globe are now free to apply for any of the affected cadastral units on the basis of “first come, first served.”
“For revoked mining licences, a fine of N10m applies; N7.5m for SSMLs, while N5m for Exploration License (EL). They will be required to make the payments within 30 days to qualify for consideration,” he said.
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