Overview. Availability of reliable geological data, access to funding, regulatory requirements aimed at increasing government's 'take', a shortage of skilled labour, preponderance of artisanal mining activities, weak infrastructure, pervasive corruption, environmental degradation an and increased stakeholder expectations are common features of mining in Nigeria.
The Petroleum Industry Bill (the "PIB" or the "Bill") is perhaps the most talked about piece of legislation in Nigeria ever, given the far reaching reforms which it proposes to an industry which is the single most significant contributor to the national economy.
The domestic mining industry is underdeveloped, leading to Nigeria having to import minerals that it could produce domestically, such as salt or iron ore. Rights to ownership of mineral resources is held by the Federal government of Nigeria, which grants titles to organizations to explore, mine, and sell mineral resources.
Peru is a global leader in the mining industry; it's one of the world's biggest producers of base and precious metals. Currently, it is the third largest producer of copper and zinc in the world. Peru is also a major producer of gold, silver, among other minerals.
Mining in Nigeria: overviewby Andornimye Adie and Ovie Olakpe, DORNIM Solicitors and Legal Consultants Related Content Law stated as at 01 May 2015 • NigeriaThis article highlights some of the key legal issues commonly associated with the exploration and extraction of mineral resources in Nigeria.
Nigeria joined the Organisation of Petroleum Exporting Countries (OPEC) in 1971 and established the Nigerian National Petroleum Company (NNPC) in 1977, a state owned and controlled company which is a major player in both the upstream and downstream sectors.