By Victoria Onehi
The Minister of Solid Minerals Development,Dr Dele Alake has said the ministry is working closely with relevant agencies and stakeholders to ensure that financing, infrastructure, security, and technical support are aligned with governments national mining priorities.
Dr Alake stated this at a Webinar with the theme ‘Understanding the Mining Asset Development Cycle’ organised by the Solid Minerals Development Fund (SMDF) and the National Association of Securities Dealers (NASD)Plc, which held on Wednesday.
The Minister who was represented by the his Senior Adviser on Mining & Policy,Amira Adamu Waziri,said the capital market is a critical pillar in the journey toward a sustainable mining sector.
He stated:”Through the capital market, we can mobilise long-term financing for exploration and project development,support junior mining companies to list, raise funds, and scale operations,facilitate securitisation and monetisation of geological assets and channel institutional capital into infrastructure and processing hubs.”
Speaking on licensing process and requirements for a mining asset,the Director General of the Nigeria Mining Cadesstre Office,Engr.Obadiah Nkom, said every mining investment journey begins with data and information-reconnaissance is the cornerstone.He said Reconnaissance Permit allows investors to carry out the search for minerals, through physical observation, rock sampling, geological surface analysis, geophysical surveys/mapping, geochemical surveys and more.
He stated:”Reconnaissance is the smartest, lowest-cost entry into Nigeria’s mineral wealth. And for communities,understand reconnaissance as the beginning of shared prosperity, not exploitation.”
Nkom said Mining Cadastre Office as the key regulator, will continue digitalising and enforcing standards.
Speaking on ‘Mining assets development cycle and investment readiness’ a seasoned Corporate Financier, Mr. Jon O’Callaghan, said the bigger money in mining is in exploration.He however said funding of mining projects is not with the banks nor government but with the stock exchange/capital market funding support.
A Tech Entrepreneur, Mr. Paul Lalovich ,speaking on ‘World asset tokenisation as a means to unluck early stage exploration funding’ said Nigeria has so much potential in the mining sector and it will be good for the country to position itself as a mining hub in the continent.
He said exploring innovative financing models such as asset tokenization to unlock early-stage funding will position Nigeria strategically to become a regional mining hub to other nations in the continent.
While giving her vote of thanks,the Executive Secretary of the Solid Minerals Development Fund Hajiya Fatima Umaru Shinkafi said the conversations have shed light on critical elements of the mining asset development cycle.
Shinkafis address which was delivered by Omotayo Omitokun, Executive Assistant to the Executive Secretary, SMDF said the insights gained at the webinar will not only shape investment readiness but also accelerate sustainable growth and value creation in mining industry through the capital market.
She thanked the Minister, Dr. Dele Alake, for his vision and the commitment to turning around the sector. She also thanked the MD of NASD Plc Mr. Eguarekhide Longe and his team and all SMDF staff who worked behind the scene to make the webinar a success.
