Dangote, BUA at war over limestone ownership

By / 12 months ago / Breaking, Business, News / No Comments
Dangote, BUA at war over limestone ownership

 

Dangote Group has accused BUA of engaging in illegal mining of limestone deposited in its Mining Lease No. 2541, located in the boundary town of Oguda/Ubo in Okene, Kogi State.

, Mr. Devakumar Edwin, Dangote’s Executive Director  made the accusation at a briefing in Lagos yesterday and condemned media war being instigated by BUA against the Dangote Group over a matter which was already pending before the Federal High Court, Benin Division.

“Dangote Group validly acquired its interest and mining title in the disputed Mining Lease No. 2541 from AICO Ado Ibrahim & Company Ltd sometime in 2014. AICO itself had applied to the Mining Cadastre Office and Ministry of Mines and Steel Development for the said Mining Lease No. 2541 located in a boundary town of Oguda/Ubo in Okene Kogi State in 2007.

“The Ministry in exercise of its power under the Nigerian Minerals and Mining Act, 2007 granted and issued to AICO ML. No. 2541 for the renewable period of 25 years effective from 1st February 2008 and to expire on 31 January, 2033.

“Thus AICO by virtue of the said grant, became vested with the legal title over ML. No. 2541. In 2014, the Dangote Group approached AICO and indicated interest in acquiring AICO’s stake in ML No. 2541.

‘’In 2014, AICO in exercise of its right under the Mining Act, applied to the Ministry for the transfer of its title in the ML No. 2541 to Dangote Group. AICO and Dangote Group equally paid all the transfer and statutory fees demanded by the Ministry He said.

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