The Federal Government has revoked an additional 924 dormant mineral licences with immediate effect.

Minister of Solid Minerals Development, DELE ALAKE, disclosed this during a press briefing in Abuja on Wednesday April 24.

ALAKE said the revoked mineral licences include 528 exploration licences, 20 mining leases, 101 quarry licences, and 273 small-scale mining licenses respectively.

He also lamented the high rate of licence racketeering, as well as dormant mineral licences, which he assured of the ministry’s unrelenting effort to get into the root cause and correct the lapses.

He added that the ministry has formulated a policy to enable those whose licences have been revoked and are interested in reinstating such licences back into the system.

For mining licences reinstatement, Alake fixed the fine for large-scale companies at 10 million naira, while small-scale mining licences were put at 7.5 million naira, and exploration licences were put at 5 million naira respectively.

The Minister however gave 30 days for interested parties to come up to the ministry through the mining cadastral office or risk losing their licences.