Mineral Exploration: Mecon Geology submits final report to FG

Mecon Geology and Engineer Services, one of the five companies engaged by the federal government last week submitted its final report after month of mineral exploration aimed at obtaining data to de-risk the mining sector.

The project conducted by the National Integrated Mineral Exploration Project (NIMEP) is said to be the largest exploration project in the country.

It covered 176 sites for barytes and other mineral deposits, their precise location at qualifies.

The exploration venture also provides geosciences information that will incentivise the solid mineral sector to attract the much needed investors with the focal aim of boosting the country’s capacity to mine Barytes and increase IGR.

With the discovery of new areas of interest and potentials, the project is further expected to sufficiently equip the country with capacity to key into minerals needed for the fourth industrial revolution.

Speaking at the presentation of the exploration report in his office, the Minister of Mines and Steel Development, Arc Olamilekan Adegbite observed that the sector is crucial in increasing the country’s revenue base, adding that so much resources have been committed to it.

He said. “We intend to make more money for government. This is not supposed to be just an exercise like that. We spent so much money. We are hoping that we can generate more revenue from this money that was spent”.

The minister further added, “Mining is about data; you can’t do mining without data. It is something that is hidden on the ground. It is important that we engage people and best company that know it to acquire the data for us. And with this, we are de-risking the sector and are able to attract the right investors into the country.

“What we have in Nigeria is artisanal mining. But the kind of technology, equipment and funding required to get mining in the right content is beyond artisanal mining. We need proper investment to develop mining. There is need for sustainability, further escalation and more funding to do exploration.”

In his comment, the Director-General, Nigerian Geological Survey Agency/Chairman NIMEP, Dr. Abdulrazaq Garba, emphasised that exploration work seeks to spur the desired investment into the sector, generate foreign exchange, substitute for import among other gains.

According to Dr. Garba, the contracts were awarded after passing through ministerial and bureau for public procurement screening processes.

He said: “The projects are to generate geosciences information in Greenfield and Brownfield settings through integrated exploration methodologies. It is aimed at spurring the desired investment into the sector, to generate foreign exchange, substitute for import, develop local industries, generate employment, and create wealth along the mineral value chain.

“This project ensured the use of international Competent Persons (CP) in the execution of the contract and also in the consulting team to ensure compliance with international best practices.”

Also, the Technical Director, Mecon Geology and Engineer Services, Chum Offodile, said the National Integrated Mineral Exploration Project (NIMEP) is a project designed by Federal Government to carry out an integrated exploration to de-risk the Nigerian mining sector and provide geosciences data.

Dr. Oluwatoyin Akinlade, Permanent Secretary in the ministry, promised adequate security to all NIMEP contractors, as they continue exploration.

It is estimated that the country spends about 300 million dollars on importation of Barytes annually.

With this project, such foreign exchange could be deployed in boosting local investment in Barytes and other mineral resources.

Barytes among other industrial purposes is used for making dense glass wall and window glasses especially for high rise buildings, pharmaceuticals, paints, paper industries, filler and rubber products.

The minister is expected to submit the report to President Muhammadu Buhari for appropriate action in coming days.