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Economic Summit: Osun Secures 17 Licenses For Mining Operations

Economic Summit: Osun Secures 17 Licenses For Mining Operations
  • PublishedNovember 20, 2019

Government of Osun has acquired 17 mining licenses from the Nigeria Mining Corporation for local and foreign investors to develop mineral resources in the state.

Governor Gboyega Oyetola disclosed this at the opening of the three-day State Economic and Investment Summit held at the Aurora hall in Osogbo.

He said the government has 10 licenses for Gold, four for Quarry, two for Lead/Zinc and one for Quartz and Feldspar, saying the state would be willing to partner with any interested investors to develop the sector.

According to him, Osun recently executed an MOU with an international mining firm – The Badger Mines – for the exploration and development of one of the state mining titles with a signature bonus of N100million already paid by the company.

He said, “Our mining sector, like agriculture, is an old industry yet to be fully harnessed. The State of Osun has ample reserves of a variety of minerals, notably gold, lead/zinc, quartz, feldspar and several precious metals.

“We occupy a unique place in the mining sector in Nigeria. We are a mining state that hosts solid minerals. We are also a state that has invested in acquiring the licences for solid minerals under our land from the Federal Government.

“No other state in Nigeria can offer the unique combination of both regulatory and commercial fusion. We are a risk-ready state with an appetite for enterprise and reward for winnings.

“The state acquired 17 mining licenses for Gold – 10; Quarry – 4; Lead/Zinc – 2; and Quartz and Feldspar -1, from the Nigeria Mining Corporation, and we are willing to partner with interested local and foreign investors to develop these mineral resources.

‘The intervention areas are Osun/Omoluabi Mining Business Restructuring Scheme (OMBRS) to commercialise the state-owned mining company. Osun Revenue Diversification and Maximisation Scheme (ORDMS) is a scheme to register all miners, mines and mining equipment and report on all mining activities in the State in partnership with private sector technology partners.

“9,000 artisanal miners have registered their biometric data on RFID-enabled tags with our technology partners”, the government stressed.

Oyetola then noted that the state is fully prepared to give all the support required for investment to thrive particularly in mining, tourism and culture and agriculture.

He added that no other state in Nigeria can offer the unique combination of both regulatory and commercial fusion the state was offering for investors.

In his remarks, the Vice President of Nigeria, Professor Yemi Osinbajo, noted that the objectives of the Summit was in tandem with the Diversification Agenda of the Federal Government.

He also commended the governor for demonstrating an exceptional leadership in building on the achievements of his predecessor in his aggressive pursuit of economic rejuvenation of the state.

Speaker at the summit, including the Minister for Youth and Sports, Sunday Dare; Chairman of Bi-Courtney Company, Wale Babalakin among others restated the need to get the youth actively involved to drive the economy of the state.

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