Global audit, tax, and business advisory firm – KPMG, has call on the Minister of Solid Minerals Development – Dele Alake, to register Nigeria on international mining organisations, citing its benefits to the development of the over 44 solid minerals scattered in over 500 locations nationwide.
Some of the renowned international mining organisations include: The Committee for Mineral Reserves International Reporting Standards (CRIRSCO), the Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development (IGF), and the International Council of Mining and Metals (ICMM).
KPMG, in its June report on the country’s solid minerals sector, stated that based on its mineral wealth, Nigeria should naturally be a preferred mining destination for many multinationals.
The firm listed Nigeria’s mineral deposits to include, but not limited to, gold, barite, bentonite, limestone, coal, bitumen, iron ore, tantalite/columbite, lead/zinc, gemstones, granite, marble, gypsum, talc, iron ore, lead, lithium, nickel, and silver.
KPMG stated that membership and affiliations with such globally renowned mining organisations would confer several benefits to Nigeria and mining stakeholders, and have the potential to put the country in pole position to attract FDI.
It said, “Some of the other benefits include the following: validating the veracity and existence of acclaimed mineral deposits, especially of critical metals, earning and maintaining global trust by promoting high standards of reporting of identified mineral estimates and strengthening the social and environmental performance of the mining sector, in view of the increasing ESG-investment considerations.”
It identified other benefits as, “Building recognition of the mining sector contribution to local communities and society at large and strengthening laws and policies to achieve short and long-term sustainable development goals.”