Why FG Revoked Licences Of Defaulting Mineral Firms

By Ayodele Oni

For defaulting to pay renewal fees, the Federal Government has revoked 1,633 minerals titles previously given to non-complying mining companies.

The Minister of Solid Minerals Development, Dele Alake, announced this during a press briefing on Tuesday in Abuja.

He said the licenses of these mineral title holders were revoked due to failure to pay mandatory annual service fees of N1,500 per cadastral unit.

He said, “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.”