Federal Government has said it will use the current global demand for mineral resources as an opportunity to strengthen the country’s mining sector.

Minister of Mines and Steel Development, Prof. Leslye Obiora said in Abuja, that the development would enable the country participate in the current boom in the sector.

According to her, “the boom has only strengthened government’s belief that the mining sector is critical to building a strong and prosperous economy so that we can help ensure our people enjoy a quality of life second to none”.

She said mining was crucial in ensuring job creation, high standard of living, and overall economic growth of the country.

To achieve these, the minister said the ministry had embarked on bold and robust reforms, to create an exciting climate for mineral development and build a strong and prosperous economy.

The reforms included putting together a new mineral law that would be investor- friendly and meet international best practices.

She said that the law, which would come out at the end of the month, would make Nigeria a mining destination that would bring in global wealth.

Obiora said issuing of mining licences and leases was now done transparently on first come first served basis as against the former discretionary method of issuing licences.

She said the ministry had world class geological data of all the mineral resources the country was endowed with, which, she said, was a basic requirement for investors to use for any exploration or mining activities.

According to the minister, these milestone achievements, would soon position Nigeria on the global map and also serve as a human and capital development tool for sustainability.

Copyright © 2006 This Day

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