After Increasing Mining Cost, FG Shuts Down Gold Mine, Names Location
- The federal government has closed an illegal gold mine located in the Yagba East Local Government Area of Kogi State
- The Federal Government's determination to halt illegal mining and reposition the sector led to the action's taking
- The move was made as part of the Federal Government's determination to halt illegal mining and restructure the sector
Legit.ng journalist Zainab Iwayemi has over 3-year-experience covering the Economy, Technology, and Capital Market.
An illegal gold mine location in Kogi State's Yagba East Local Government Area has been closed by the federal government.
Source: Getty Images
According to Dele Alake, minister of solid minerals development, the action was taken as part of the Federal Government's resolve to stop illegal mining and reposition the industry to raise Nigeria's status internationally.
The operation was conducted by the mining marshals at Iyeh Odogbe, Isanlu community of Yagba East LGA, according to a statement made in Abuja by the minister's special assistant on media, Segun Tomori.
Tomori claims that the operation consisted of removing illegal miners whose operations had for 16 years barred legally authorised miners with permits covering four cadastral units from accessing the site.
He claimed in the report that the illegal activities had continued unchecked for almost two decades.
He also said that seven individuals in charge of different groups of unauthorised miners in the area were apprehended as a consequence of the operation, which was headed by Attah Onoja, Commander of the Mining Marshals.
Tomori stated that efforts to properly secure the area and guarantee its full recovery for legal mining activities will continue in earnest, and that the site workers had been given five days to leave the area fully.
According to the News Agency of Nigeria, the federal government of Abia State said on July 12 that it had arrested eight Chinese nationals who were allegedly involved in illegal mining at Lokpaukwu village, Umuchieze, under Umunneochi Local Government Area.
FG increases cost of mining
Legit.ng reported that the federal government increased royalties by 100% on Thursday. Additionally, the government increased the cost of mining licenses among other things.
The details were provided by Solid Minerals Development Minister Dele Alake during an Abuja media briefing.
According to the minister in a BusinessDay report, the pricing regime consists of 268 elements. But he simply brought attention to the significant increases.
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Source: Legit.ng
