The Federal Government through the Ministry of Solid Minerals Development has revoked 924 dormant mineral licences to enhance the mining sector’s transparency and efficiency.
This action was taken as the government identified licence racketeering as one of the main obstacles hindering the development of the sector.
The Minister of Solid Development Minerals, Dele Alake, disclosed this information at a press conference on Wednesday in Abuja.
The revoked licences include 528 exploration licences, 20 mining leases, 101 quarry licences and 273 small-scale mining licences.
Last November, the ministry revoked 1,633 mineral titles previously given to non-complying mining companies for failure to pay statutory charges, fees, and dues to the government.
The minister also promised to clean up the solid minerals sector for international competitiveness and urged all stakeholders who have acted wrongly in this sector to turn a new leaf.
But speaking at the briefing, Alake stated that the ministry opted to sanction the defaulters following their investigation into cases where individuals obtained licenses but instead of investing in site development, they participated in speculation and auctioned the licenses to the highest bidder.
