Adegbite Gives Thumbs Up To Solid Minerals Development Fund

Posted by Eric Ojo Business News, Latest Headlines Friday, February 18th, 2022

(AFRICAN EXAMINER) – Nigeria’s Minister of Mines and Steel Development, Olamilekan Adegbite has commended the Solid Mineral Development Fund (SMDF) for its commitment towards the implementation of its mandate.

SMDF’s cardinal mandate is to act as a catalyst to spur development of Nigeria’s mining sector by undertaking targeted sustainable, profit-oriented investments and interventions in key areas, in close coordination with stakeholders in the sector.

The minister gave the commendation during the presentation of two batches of equipment newly acquired by the agency. The equipment presented to the minister by the Chief Executive Officer (CEO) of SMDF, Fatima Shinkafi, include Niton™ DXL Precious Metal Analyzer and Mettler Toledo Precision Analytical Balance.

In a statement by his Special Assistant on Media, Ayodeji Adeyemi, Adegbite lauded the leadership of SMDF for the procurement of the equipment which, according to him, would help the ministry’ s officers at the field to identify the right amount and quantity of specific minerals.

“The SMDF is fulfilling one of its obligation to the department and to the ministry. And I think we should develop on this, so that there can be total synergy. Arising from what we are planning for SMDF to have an establishment act and to empower them to really get their own funds.

“Once we are able to do this it would be greatly beneficial for all of us as they would be in the position to raise funds even outside government from the private sector. And of course it can only be beneficial to the sector as a whole as they support the ministry to carry out its functions and oversight and supervisory function and helping the miners out there to fulfil their aim”, he said.

He also noted that the proposed establishment Act, which would empower the agency to source funds from the private sector, will further strengthen the SMDF in performing its statutory function to equip the mining departments and agencies and to enable the ministry to perform its oversight and supervisory role.

He equally pointed out that the knowledge acquired by the various department in the ministry such as Mining Inspectorate, MI, Artisanal and Small Scale Mining, ASM, Mine Environmental Compliance, MEC would be made available to SMDF.

“It should also be that the knowledge we acquire from the field from MI, ASM, IPMT, MEC is availed to SMDF so that they can be used to tailor some of their products, so it should be symbiotic and a win-win for all.”

Earlier in her remarks, the SMDF’s boss noted that it would help the departments perform the duties excellently, adding that the Fund was just performing its statutory function of equipping mining institutions, enabling them to perform their roles.

“The Niton DXL precious metal analyser will enable nondestructive analysis of metals with near instantaneous results. It is exceptionally fast, easy to use, results appear in seconds on a bright, touch-screen colour display. It requires no harsh chemicals or acids that can burn your fingers, ruin clothing and damage countertops. Faster, more comprehensive analysis than fire assay, with comparable accuracy.

“The assay machine also eliminates the need for density test that is crude and inaccurate. The instruments that we are presenting today will enable the determination of the purity and weight of golds on seconds. So, we are presenting today both assaying instruments and precision weighing instruments. We are confident that these instruments will support the Ministry’s ASM clusters across the country with these types of equipment”, she stressed.