Home Business FG revokes 1,633 mining licences

FG revokes 1,633 mining licences

by Business News Report

Minister of Solid Minerals Development Dele Alake has said that the federal Government had revoked 1,633 minerals titles of defaulter mining companies. He said this at a press briefing in Abuja. Alake said the licenses were revoked due to failure to pay mandatory annual service fees of N1,500 per cadastral unit.  “The Mining Cadastre Office has recommended the revocation of 1,633 mineral titles as follows: Exploration Licence, 536; Quarry Licence, 279; Small Scale Mining Licence, 787 and Mining Lease, 31. “In line with the powers conferred on me by the NMMA 2007, Section 5 (a), I have approved the revocation of the 1,633 titles.”

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