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Nigeria to deploy satellite technology for mining surveillance

Published

5 months ago

June 3, 2024

The Nigerian government will employ satellite technology to monitor mining sites around the country, according to a statement by Dele Alake, Minister of Solid Minerals Development.

Alake stated that this technology will support the 2,220 members of the Mining Marshal Corps—who are recruited from the Nigeria Security and Civil Defence Corps (NSCDC)—in their efforts to combat illicit mining in an interview with the News Agency of Nigeria (NAN) on Sunday in Abuja.

To safeguard Nigeria’s natural riches, these corps members—who are dispersed throughout the 36 states and the Federal Capital Territory (FCT)—have additionally undergone modern combat training from the military.

He said, We are introducing some technology, we are not just relying on men and materials alone. The satellite surveillance gadgets we are putting in there is to enable us to see in real-time in all mining sites in Nigeria.”

“So that when we notice any infraction, very quickly we can deploy the mining marshals to go there so we don’t even have to wait for any interpersonal communication. That reduces the time of knowledge and action.”

“Right now, we depend on people passing intelligence to us but when the satellite surveillance gadget is working, we will be able to see it ourselves. Which is a step forward on the right direction.

He pointed out that the solid mineral industry is rife with security issues that President Bola Tinubu’s administration inherited, like as banditry, kidnapping, and terrorism. Most mining operations take place in woods, which are hotbeds of these crimes.

The Tinubu administration is dedicated to cleaning up the industry and shifting its role so that it makes a major contribution to the GDP (gross domestic product) of Nigeria.

The minister claims that to quickly address these problems, cooperative efforts are being undertaken with other government agencies, including the Nigerian Army, the Police, and the Economic and Financial Crimes Commission (EFCC).

According to Alake, the ministry is committed to ensuring that the GDP (gross domestic product) of Nigeria is contributed by the solid minerals sector rather than oil. He emphasized that the administration of President Bola Tinubu is putting policies and efforts into place to diversify the economy and soon bring in more money than oil. This change is essential, particularly in light of the worldwide movement toward energy transition, which will lower the oil demand.

To facilitate the energy transition, he said, Nigeria possesses essential minerals in commercial quantities in all of its states. To draw significant investors to the industry, the government is actively marketing these resources.

Mineral production in Nigeria reached 121,204,122,000 metric tons in December 2021. The mining industry has seen a steady decline in share, from 5.6% in 1980 to a little under 1% presently. In Q3 2022, the mining sector in Nigeria contributed 0.3% to the country’s GDP, which was less than the 0.2% it had in the same period the previous year.

The mining sectors of Botswana, Ghana, and South Africa, on the other hand, contribute 16%, 12.6%, and 7.3% of their respective economies, making them far more significant.

Related Topics:Dele Alake Featured Mining Nigeria

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Canada’s First Quantum in pursuit of partners for Zambian assets

Published

7 hours ago

October 24, 2024

Ifeoluwa Dada

Without naming the companies, First Quantum Minerals, a Canadian miner, stated on Wednesday that it is in discussions with possible partners for its Zambian properties.

According to three people familiar with the matter, Reuters said last week that Saudi Arabia’s Manara Minerals is nearing an agreement to purchase a minority interest in First Quantum’s copper and nickel holdings in Zambia.

“We’re more open to partnerships, and that includes in Zambia, but only if it’s in the interest of our Zambian business, the Zambian government and all the stakeholders involved,” First Quantum CEO Tristan Pascall said on a conference call with analysts. The company’s shares were up 3% in early trade at C$18.93.

Copper is a highly sought-after component for the clean energy transition, as it is used to make electric cars and power data centres for artificial intelligence. The possible Manara Minerals deal, which may be worth between $1.5 billion and $2 billion, is in the news.

A stake sale in the Zambian mine would assist First Quantum in paying down its mounting debt following the Panamanian government’s order to close its flagship Cobre Panama mine last December in response to public outcry.

The business is awaiting a decision regarding the mine’s future and permission from Panama’s new government to transport 121,000 metric tonnes of trapped copper concentrate.

If that copper was approved for sale, working capital would be available to keep the mine operating. Monthly mining maintenance costs for the Canadian miner range from $11 million to $13 million.

Pascall cautioned that the business will need to reduce expenses, particularly staffing, in the coming months.

VenturesNow

Egypt reduces 2040 renewable energy target to 40%, prioritises natural gas

Published

4 days ago

October 20, 2024

Ifeoluwa Dada

Petroleum Minister Karim Badawi announced on Sunday that Egypt had reduced its 2040 renewable energy target down from a previous goal of 58% to 40%, highlighting the fact that natural gas will continue to play a significant role in the nation’s energy mix for years to come.

Egypt promised to increase the percentage of renewable energy output in its energy mix to 42% by 2035 before hosting the COP27 climate meeting in 2022.

Later, the aim was advanced to 2030. Mohamed Shaker, the then-minister of electricity, unveiled a bold proposal in June 2024 to increase this to 58% by 2040; however, that goal has since been abandoned.

“This is a message to all of us to work together to increase discoveries and attract more investments through the bids being offered for exploration, aiming to achieve discoveries in the region, which holds more wealth, particularly natural gas,” Badawi said in the opening session of the Mediterranean Energy Conference 2024.

Egypt’s persistent dependence on fossil fuels coincides with efforts to regain the confidence of international oil companies, whose domestic activities ceased due to a shortage of hard currency that put the nation in debt to the tune of billions of dollars.

Since entering office in July, Badawi has met with many foreign energy corporations, such as Eni of Italy, which intends to increase production in Egypt’s largest gas field, Zohr, by digging additional wells in early 2025.

At its peak of 3.2 billion cubic feet per day (bcf/d) in 2019, Zohr’s gas output allowed the nation to turn a profit.

However, by early 2024, output had dropped to 1.9 bcf/d, forcing Egypt to import more gas through a pipeline connecting it to Israel and more LNG to avoid a months-long load-shedding program.

Additionally, Egypt imports fuel oil that contains sulphur; in September, imports reached a record-breaking 255,000 barrels per day (bpd), the highest level since at least 2016.