The Ministry of Mines and Steel Development is organising a stakeholders forum in April, 2009 to address the challenges in the Mining Sector with a view to profer solutions towards the development of the sector. The   forum is expected to come out with short term, medium term and long term strategies for the development of the sector.

The Minister of Mines and Steel Development, Mrs. Diezani Allison-Madueke made the disclosure in Abuja when members of the Miners Association of Nigeria paid her a working visit. The delegation was led by the National Chairman of the Association, Mr. Sunday Ekozin.

Mrs. Allison–Madueke said that the Ministry cannot perform optimally without the support and contributions of stakeholders.

She reiterated that the views and opinions of the stakeholders at the forum would form the bedrock of the strategies to move the sector forward.

“Government was ready to partner with the miners and other stakeholders to develop the Mining sector” said the Minister.

The Minister noted that the Artisanal and Small Scale Mining is crucial to in Nigeria’s economy with regards to the poverty alleviation programme of the present administration.

Having agreed that Mining is capital intensive, she said that efforts are being made on how more funds could be sourced from financial institutions and accessed by miners to facilitate their operations in the country.

The Minister advised the miners to form joint ventures with a view to having more funds, human resources and equipment for the enhancement of their operations.

She urged investors to take advantage of the present global economic meltdown by mining the various solid mineral resources across the country with a view to making more profit when prices of commodities begin to appreciate in future.

The Minister used the forum to make official clarifications on the World Bank Grant of US$120 million for the development of the solid mineral resources in Nigeria. According to the Minister over 50% of the grant had been disbursed, while she declared that US$10 million of the grant was earmarked for Artisanal and Small Scale Miners.

Mrs. Alison-Madueke also disclosed that the Bill for the establishment of the Mining Cadastre Office was with the Ministry of Justice for vetting.

She   disclosed that the Solid Minerals Fund Act was already in place, adding that funds were being sourced for it.

Speaking earlier, the Chairman, Miners Association of Nigeria, Mr. Sunday Ekozin said that the purpose of their visit was to indicate their readiness to partner with the Ministry of Mines and Steel Development for the development of the Mining Sector.

Mr. Ekozin said that the present challenge of global economic recession requires mass multidimensional approach by miners across the country by harnessing our mineral resources to make meaningful substitution to our import dependent economy by meeting the raw material requirements of our local market thereby generating employment and alleviating poverty.

The Chairman advised that Nigeria must adopt a new approach from the failed ones in the past whereby government chased foreign investors and dived into actual production instead of stimulating and empowering the private miners as the vehicle of economic growth.

Mr. Ekozin also advised that government should create conducive environment for the operation of local and foreign investors for a sustainable development of the Mining sector.

The Chairman also sought government’s assistance in accessing their share of the World Bank Grant and other loan facilities from financial institutions to facilitate their operations in the country.

Other requests made by the Association were: the enactment of the Bill establishing the Mining Cadastre Office, the Natural Minerals Fund Bill, Mineral Development Fund Bill, Mining Reactivation and Credit Guarantee, Mining Finance by First Bank PLC and mobilising other government agencies to assist miners.