FG vows to avenge killing of 12 miners in Niger State, halts mining at attack scene
*Photo: Dr Dele Alake, Minister of Solid Minerals Development* The Federal Government has pledged to avenge the murder of 12 miners shot to death by bandits at Unguwar Magro Village of Shiroro local Government Area of Niger State assuring that security agencies are on their trail and will soon bring them to face the wrath of the law. It also said...
Gold bars are worth a million dollars for the first time
For the first time ever, a bar of gold is worth a cool one million dollars. The milestone was reached Friday, when the precious metal’s spot price surpassed $2,500 per troy ounce, an all-time high. With gold bars typically weighing about 400 ounces, that would make each one worth more than $1 million. There are some nuances to the figure. While gold...
Rare Earth Metals: The Next Gold Rush to Challenge China
Norway recently announced its discovery of Europe’s largest proven deposit of highly prized rare earth metals, a group of 17 elements that are essential for a wide range of modern technologies. While they’re called “rare earth,” they are in fact not particularly rare in the Earth’s crust. However, they are often found in low concentrations and are difficult to extract...
China drives African lithium surge to lock in key battery metal
Chinese miners and refiners are driving a surge in African lithium output, shrugging off concerns over a glut to lock in future supplies of the critical battery metal. The continent is projected to account for almost 11% of global supply this year, compared with close to zero at the start of the decade, according to S&P Global Commodity Insights. That’s...
Gold continues rise, tops $2,500 per ounce first time on US Fed rate cut expectation
Gold rose above $2,500 per ounce for the first time on expectations that the Federal Reserve is inching closer to cutting interest rates. In the commodity market, spot gold rose above $2,500/oz on Friday afternoon, exceeding the previous record hit last month, ING analyst Ewa Manthey said in a note.The increase followed disappointing US housing data that has reinforced...
Forensic audit of mining sector underway- Alake, Minister of Solid Minerals Development
*Photo L-R: Dr Dele Alake, Minister of Solid Minerals Development and Governor Caleb Mutfwang of Plateau State* The Minister of Solid Minerals Development, Dr. Dele Alake has hinted at an impending forensic audit of the mining sector as part of efforts to sanitize the industry and boost investor confidence. During a meeting with Plateau State Governor Caleb Mutfwang on Wednesday, 14th...
MIREMCO seeks collaboration with EFCC to tackle illegal mining in Enugu State
Photo: The leadership of MIREMCO, Enugu State Chapter during a visit to the Enugu Zonal Director of the EFCC.* The Chairman of Mineral Resources and Environmental Management Committee (MIREMCO) Enugu State Chapter, Engr. Samuel Onyinye Okoro has called for collaboration between the Committee and the Economic and Financial Crimes Commission, EFCC in tackling illegal mining in Enugu State. Okoro, who also...
Mining companies must prioritize health and safety of Nigerians- President Tinubu
Photo: President Bola Tinubu (left) receiving a presentation titled, ‘Harnessing the Mining Industry for Enhanced National Security and Development: Strategic Options for Nigeria by 2035,’ by Course 32 participants of the National Defence College (NDC) on Thursday in Abuja. * President Bola Tinubu says his administration will ensure that companies engaged in mineral exploration prioritize the health and safety of...
Troops arrest 12 suspected illegal miners in Ondo, trace kingpins to Zamfara, Niger
Operatives of the 32 Artillery Brigade of the Nigerian Army in Akure have arrested 12 persons who were suspected of engaging in illegal mining in Ondo State.The operatives gathered that the actual kingpins of illegal mining in the state hail from Niger and Zamfara states.Those arrested were Abdullahi Ibrahim, aged 40, Hassan Bala, aged 40, and Alawude Damilarin, aged...
Nizhong Mining Company to invest $50m in tin mining and mineral processing in Nasarawa State
*Photo L-R: Gov Abdullahi A. Sule and Mr. He-Ruchui who led a delegation of Nizhong Mining Company to Government House, Lafia.* Governor of Nasarawa State, Engr. Abdullahi A. Sule, has received a high-level delegation from Nizhong Mining Company, led by Chairman Mr. He-Ruchui, at the Government House in Lafia. *Gov Abdullahi A. Sule (middle) with members of the delegation* The delegation expressed...
