Printer Friendly

Nigeria: Mineral Sector Support for Economic Diversification Project (MinDiver).

Project ID: P159761

Region: Africa

Commitment Amount: US$ 150.00 million

Total Project Cost: US$ 150.00 million

Sectors:

Other Mining and Extractive Industries: 100%

The Development Objective is to support the Government of Nigeria to further enhance the mining sector's contribution to the economy through improved governance and institutions, strengthened downstream linkages, access to finance, improved sector investment climate and competitivene ss, and fostered participation in the sector

Key Results (From PCN)

i. Increase availability and transparency of precompetitive geo - science data to enhance mineral transactions, investor confidence, and sector competitiveness;

ii. Enhance regional development and spatial planning through the development of information infrastructure and multi - sector planning tools;

iii. Increase the of sustainability of ASM operations, including through the formalization of artisanal and small scale miners, enhancing their skills, and facilitating the development of mineral marketing centers;

iv. Improve the governments capacities on environmental and social compliance, including strengthened monitoring and enforcement mechanisms to ensure appropriate en vironmental, social and mitigation standards at mining sites.

Description

The proposed project will be financed through an IDA Credit in the amount of US $1 5 0 million. Based on consultations with government counterpart, this proposed project is designed to deliver both short - term results (1 2 years) and longer - term results (4 - 5 years). Targeted activities expected to produce quick win results which will be implemented earlier on in project implementations include the foll owing: (1) Undertaking a demand/gap analysis of industrial minerals required by the local industries to explore some import substitution potentials as well as facilitate the flow of mineral transactions . (2) Facilitating access to finance, technology and e quipment, knowledge, and markets as well as provision of mineral extension services; (3) Supporting the mining and processing of the minerals and dimension - stones to meet the required specifications of the local industries in accordance with best practices ; and 4) Developing measures for formalizing, regulating and inventorying artisanal and small - scale mining (ASM).

Component - A: Establishing a Strong Foundation for Mining Sector Development

Strengthening mining governance, transparency, accountability, and administration. Building on the reforms supported by the SMMRP and the EFO, as well as the findings and recommendations of the NEITI mining audit reports, this component will support a second generation of governance reforms. The following activities are envisioned (a) U pdating the Policy, Legal, and Regulatory Framework to align with international sta

Project completion date : 2018-12-31 12:00:00

Major organization : MINISTRY OF SOLID MINERAL DEVELOPMENT

Address : Plot 360, Femolat Close,

Wuse 2, Wuse, Abuja,

Nigeria

Country :Nigeria

Email : uladie2001@yahoo.co.uk

Financier : WORLD BANK (WB),

Financier address : World Bank (WB)

1818 H Street, NW

Washington, DC 20433

USA.

Phone: (202) 473-1000

Fax: (202) 477-6391

http://www.worldbank.org/

[c] 2016 Al Bawaba (Albawaba.com) Provided by SyndiGate Media Inc. ( Syndigate.info ).
COPYRIGHT 2016 SyndiGate Media Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2016 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Mena Report
Geographic Code:6NIGR
Date:Oct 18, 2016
Words:466
Previous Article:High-Speed Railway link between Hangzhou and Taizhou.
Next Article:Second GMS Southern Coastal Corridor Project.
Topics:

Terms of use | Privacy policy | Copyright © 2020 Farlex, Inc. | Feedback | For webmasters