FG set up an exploration fund of $500 million to boost Nigeria Mining

By ogrepublic On Jun 1, 2017

Get your business involved in Nigeria’s mining at greenfield stage!

The Federal Government has set up an exploration fund of $500 million to boost mining efforts within the country to qualify and discover lucrative mineral base that is in the ground at the moment.

Here is a brief overview of commodity reserves in Nigeria (source: Ministry of Mines and Steel Development)


Bitumen Total reserves in barrels: 27,000 M Proven reserves: 1,100 MT	Gold Total reserves in ounces: 200 MT Proven reserves:1 MT Current production: 0.14 MT	Coal Total reserves in metric tonnes: 2,750 MT Proven reserves: 639 MT Current production: 0,04 MT

Lead/ Zinc Total reserves in metric tonnes: 10,0 MT Proven reserves: 5,0 MT Current production: 0,6 MT	Iron Ore Total reserves in metric tonnes: 10,000 MT Proven reserves: 3,000 MT Current production: 0,07 MT	Limestone Total reserves in metric tonnes: 2,300,000 MT Proven reserves: 568 MT Current production: 11 MT

The Ministry of Mines and Steel Development is providing a great opportunity for exploration companies, investors and equipment suppliers to make head way into the market at greenfield stage.
Nigeria Mining Week, organised by the Miners Association of Nigeria and in partnership with PwC, provides the crucial platform to meet and conduct mining business.
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