Solid Minerals Minister Pledges Federal Support for Local Content in Mining Operations

The Minister of Solid Minerals Development, Dr. Dele Alake, has recently emphasized the commitment of the federal government to support mining companies that prioritize local content in their operations.

During a site tour of Segilola Resources Operating Limited (SROL), an indigenous gold mining company in Ilesha, Osun State, the minister praised the facility’s extensive work and expressed delight that over 95% of its staff are Nigerians, encouraging other operators to follow suit.

Dr. Alake commended the high Nigerian component of the project, noting that the firm has applied local content in its procurement and employment policies.

The minister also lauded the company’s tenacity of purpose and efficient methods deployed to push through with its vision, despite daunting challenges at inception.

Stressing the importance of redirecting local and international attention to the mining sector, Dr. Alake revealed that the implementation of his 7-point agenda is aimed at repositioning the mining sector.

He highlighted the creation of mines marshals to ensure a safer, unfettered operating environment that will benefit both the operators and host communities.

Segun Lawson, Managing Director and Chief Executive Officer of Segilola Resources, stated that the company is a world-class project powered by Nigerians, appealing for support from the federal government to enable it to scale up and contribute better to the economy of the country.

The company presented its achievements to the minister, including operating an open pit system, producing 84,609 ounces (2,398.6 kilogrammes) of gold amounting to $194.4 million at current prices, and spending N29 billion on local procurement with a workforce of 1,993, of which 98% are local employees.

SROL has also paid $4.3 million in compensation and spent N1 billion on 25 community projects, benefiting 11,112 indigenes, 135 fish and vegetable farmers, and 4,479 community members.

The company has recycled 1.27 metric tonnes of waste and has achieved zero environmental incidents through its safety measures.

In response to these achievements, Dr. Alake pledged the support of the Federal Government for SROL, particularly because of its promotion of local content and positive impact on the host community through developmental projects.

This move towards sustainable development in Nigeria’s mining sector is a significant step towards a more prosperous and environmentally conscious future.