The Federal Government has cancelled 1,263 mineral licences for failure to meet annual service fee obligations. The licences, which include 584 for exploration, 470 for small-scale mining, 144 for quarrying, and 65 mining leases, will be removed from the Mining Cadastral Office’s electronic system.
Officials say the move is intended to open up fresh opportunities for serious investors, as many defaulters had held sites without development. Minister of Solid Minerals Development, Dele Alake, said the revocation would discourage speculative activity and ensure that only committed operators remain in the sector.
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The government stressed that licence holders remain indebted despite revocation, with the list of defaulters to be forwarded to the Economic and Financial Crimes Commission. The ministry added that the process was in line with the Minerals and Mining Act, following earlier notices in the federal gazette.
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