Non-payment Of Service Fees: Federal Govt Revokes 1,633 Mining Licences
The federal government has revoked a total of 1,633 mineral titles after the affected mining companies failed to pay the stipulated administrative fees.
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The federal government has revoked a total of 1,633 mineral titles after the affected mining companies failed to pay the stipulated administrative fees.
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The Minister of Solid Minerals Development, Dr Dele Alake, on Tuesday announced revocation of 1,633 mining titles for defaulting on payment of annual service fees. Alake made this known at a news conference in Abuja on Tuesday. According to him, in compliance with the law, the Mining Cadastral Office (MCO) on Oct. 4, began the
“In line with the powers conferred on me by the Nigerian Minerals and Mining Act 2007, Section 5 (a), I have approved the revocation of the 1,633 titles," the minister said.
Titan Lithium Inc. (OTC Markets: CDSG) recently declared the successful transfer of complete ownership, totaling 100% interest, of the Titan 1 and Titan 2 Prospecting Licenses in Tanzania. This transfer has been completed into the entity's subsidiary, Kilimanjaro Lithium Ltd ("KLL").