FG rates mining environment investors friendly
Minister of Mines and Steel Development, Olamilekan Adegbite, has described the local environment as friendly for new investment in mining.
Adegbite revealed that the cost of gold mining, which is less than $700 in Nigeria, is comparatively cheaper than in other countries.
in other countries, it requires between $2,000 and $4,000 to take gold to the market
The minister, at a press briefing ahead of the fifth edition of the yearly Nigerian mining week, scheduled to hold virtually from November 16 to 17, 2021, said Nigeria already grant investors 100 percent ownership of mined minerals, to attract both foreign and local investors in the sector.
He said the mining week would create an opportunity for the ministry to tell investors about Nigerian mining and how to partner with it.
“ the Minister of Mines and Steel Development said There is capital in Nigeria, but a lot of Nigerian investors are not aware of the benefits of investing in mining.
He added that the opportunity to attend this year’s mining week is given because the week will attract local investors with the capital to let them know that it is not just the mining itself but also participating in the process.
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