Nigeria Lifts Mining Ban in Zamfara After Security Boost
Nigeria has lifted a five-year ban on mining activities in Zamfara state due to improved security conditions, the country’s mining minister announced. The state imposed a mining moratorium in 2019 due to rampant banditry attacks, leaving the state’s rich gold, lithium and copper deposits untapped. However, Mines Minister Dele Alake said the situation had improved thanks to the efforts of security personnel. In addition, Arak highlighted Zamfara’s rich natural resources and emphasized its potential to contribute significantly to the country’s revenue. Nigeria’s economy is heavily dependent on oil but has struggled to diversify. Although the mining industry currently contributes less than 1% of the country’s GDP, the West African country hopes that the mining industry will play a larger role. As a result, it introduced reforms to attract investors into the industry. The reforms include revoking unused licenses, reducing raw ore exports and granting investors a 75% stake in a national mining company.
source: Reuters
