NIGERIA'S DORMANT MUSCLES (11): INTERESTED IN MINERALS?

Henates recent post on seven investment opportunities in Nigerian solid minerals generated some interest hence the decision to post this follow up for those who might be interested in exploring the nation's dormant muscle called solid minerals.
According to the Nigerian Investment Promotion commission NIPC, approval of any license for solid minerals exploitation depends on proof of economic reserve of the mineral the investor is interested in.
Thus, four steps are required. First, the company in question will apply for certificate of entry into the mining industry accompanied with certificate of registration as a Nigerian legal entity, evidence of technical competence and of financial capacity.
Next, will be the application for prospecting right (PR) that should help the company zero in on a particular reserve of the mineral in a particular area.
The third step will be to apply for exclusive prospecting license this time from mines office in the State where the reserve is located.
Once granted, it covers exclusive prospecting within an area not exceeding 22sq km
The fourth and final stage is that of formal application for mining license over the whole or part of the reserve area.
All through these stages, the company is encouraged to employ or use "technically competent persons" in carrying out prospecting under PR, exploration and finally, during extraction.

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