To achieve a virile development of the steel sub-sector of the nation’s mining industry, the Federal government reiterated its readiness to collaborate with private investors.

This according to the Minister of Mines and Steel Development, Arc .Musa Mohammed Sada would open up the exploration and exploitation of iron ore resource for the production of steel products.

The Minister made this known during a meeting with the delegation from Sojitz Global Trading Nig. Ltd. led by its President and the Chief Executive Officer, Mr. Shuhei Inoue. 

According to the Minister, “Our major interest now is steel making; private production of iron ore for the steel production”.

Arc .Sada noted that the Federal Government through the National Iron Ore Mining Company, Itakpe was the largest producer of iron ore in the country, stressing that Government is ready to encourage private investors to explore and exploit iron ore resource for the development of the nation steel sub-sector.

The Minister reiterated that for the nation’s mining industry to move forward and achieve the desired result, the Federal Government should encourage private investors to play their roles as operators while the government plays its role as a regulator.

He added that this decision by the Federal Government led to the enactment of the 2007 Nigerian Minerals and Mining Act for the mining industry to operate in line with the international best practices saying that, the issuance of mining titles is based on first come, first served in line with the law.

The Minister noted that the nation’s two steel companies (Ajaokuta Steel Company Limited and National Iron Ore Mining Company, Itakpe) conceded twice to private investors were not successful as a result of the breach of agreements; he added that the Federal government is presently working towards reactivating these two entities which are supposed to be two integrated units to work together for the production of iron ore and its end product which is the steel.

Arc .Sada also disclosed that a large deposit of Gold was recently discovered in the North Western part of the country while the artisanal and small scale miners dominate its mining activities; noting that, the Federal Government is working relentlessly at ensuring that mid-tier miners are encouraged to operate in the nation’s mining industry so as to give support to the artisanal and small scale miners.

Arc .Sada reaffirmed the government’s decision to collaborate with other stakeholders to move the sector forward, adding that such collaboration would provide technical advice on how to develop the mining sector.

He urged private investors to carry out relevant investigation of their interested areas in the nation’s solid mineral resources and put up technical proposals based on their expressed interest for consideration.

The Minister assured the delegation that the ministry through its agencies such as the Nigeria Geological Survey Agency, Mining Cadastre Office among others would facilitate their drive in area of geological data; approval and issuance of mining titles.

He added that the Ministry is also taking proactive steps at facilitating speedy approval of mining licenses and grants to potential investors.

Earlier in his address, the President and Chief Executive Officer, Sojitz Global Trading Nig. Ltd who was the leader of the delegation, Shuhei Inoue said  the mission of the company was to introduce the company as well as  indicate interest in the development of the mining and metal resources of Nigeria which is presently the focus of the present administration.

Mr. Inoue who listed Manganese, Iron Ore, Ferroalloys (rare metals) among others as their interest in the nation’s mineral resources said the company would be glad to get the basic geological data as well as the basic policy of development of the mineral resources in Nigeria.

The leader of the delegation said Sojitz Global Trading Nig. Ltd an affiliate of LNG Japan Corporation has four major business divisions namely; Energy and Metal Division; Machinery Division; Chemical and Functional  Materials Division; Consumer Lifestyle Business Division with over one hundred overseas networks.