He also said that the government had apprehended over 300 illegal operators with more than 133 currently undergoing prosecution.
According to him, reforms implemented by the Tinubu administration have led to a renewed investor interest in Nigeria’s mining sector.
Alake who spoke during the Nigeria-Middle East Investors Expo and Awards on Friday, said that the Nigerian government’s focus on solid minerals has redirected global attention to Nigeria’s mining sector, spurring increased investments and revenue for the country.
He stated that the government has identified over 40 million tonnes of talc deposits in Niger, Osun, Kogi, Ogun, and Kaduna states.
Alake also said there was approximately a billion metric tonnes of iron ore in Kogi, Enugu, Niger states, as well as the Federal Capital Territory, while an estimated 10 metric tonnes of lead and zinc are spread in eight states, among other minerals.
“We have over 44 globally sought critical minerals in Nigeria,” he added.
The minister said Nigeria is working to significantly increase funding for exploration to generate the necessary big data that will attract major international players and position the country as a global mining destination.
He also spoke on efforts being made to combat illegal mining in the country, saying that the newly established mining marshals have made arrests and are prosecuting the culprits across the country.
Alake said that the marshals had arrested over 300 illegal miners with more than 133 undergoing prosecution.
“Since deploying the mining marshals as part of our comprehensive plan to sanitize the mining environment, they have been working assiduously and efficiently.
“Over 300 illegal operators have been apprehended, with more than 133 currently undergoing prosecution. We are making significant progress,” he added.
To enhance the operations of the mining marshals, Alake revealed plans to incorporate satellite monitoring of mining sites.
“We are installing satellite surveillance mechanisms, allowing us to monitor all mining sites in Nigeria from the Minister’s office, identify any illicit activities, and promptly deploy mobile mining marshals,” he said.
Alake said the government had launched an online platform providing comprehensive information about Nigeria’s solid minerals sector to assist prospective investors worldwide in making informed decisions about investing in the country.