An Investigation into the Role of Estate Surveyors and Valuers in Mineral Valuation: A Study of Anambra State

Abstract

This study investigated the role of Estate Surveyors and Valuers in mineral valuation in Anambra State, Nigeria. The research aimed to determine the extent to which Estate Surveyors and Valuers are involved in mineral valuation and to identify the challenges they face in carrying out their duties. The study utilized a mixed-methods research design, combining both qualitative and quantitative approaches. A total of 65 Estate Surveyors and Valuers respondents were surveyed using a structured questionnaire. The study found that Estate Surveyors and Valuers prioritize and concentrate more on property valuation than on mineral valuation in Anambra State. They should be involved in the valuation of mining properties, compensation negotiations, mineral lease rentals, and royalty assessments. However, their role in mineral valuation is not well understood by stakeholders in the mining sector. The study identified inadequate funding, inadequate infrastructure, and inadequate regulatory frameworks as the major challenges facing mineral valuation in Anambra State. The research also revealed that the use of internationally recognized standards for mineral valuation is not prevalent in Anambra State. This suggests the need for Estate Surveyors and Valuers to adopt global best practices in mineral valuation to enhance the credibility of the process and improve the investment attractiveness of the mining sector. The study recommends the need for capacity building and training of Estate Surveyors and Valuers in mineral valuation. This will enhance their knowledge and understanding of the mining sector and its valuation processes, leading to improved valuation outcomes.