The Minister of Solid Minerals Development, Dr. Dele Alake, has cautioned against arbitrary closure of mining operations by state governments, warning that such act could abort efforts by Federal Government to attract Foreign Direct Investments (FDI) and provoke divestment.
He handed down the warning while announcing a fact-finding committee to look into the face-off between Osun State government and Thor Explorations Limited, owners of the Segilola Resources Operating Limited over taxation and operational matters.
The minister in a statement by the Special Assistant on Media to the Minister, Segun Tomori in Abuja yesterday, warned that mining operations and regulations are the exclusive rights of the federal government and not the sub-nationals.
He directed the committee headed by the Permanent Secretary of the Ministry, Dr. Mary Ogbe to probe the claims and counter claims by the Osun State government and the private firm by engaging both parties towards resolving the dispute and restoring industrial harmony.
He observed that the Federal Government has been marketing opportunities for investments in the solid minerals sector across the world and cautioned that closure of mining operations by sub-nationals could abort efforts to attract Foreign Direct Investments (FDI) and provoke divestment.
