Description

The mining of minerals in Nigeria accounts for only 0.3% of its GDP, due to the influence of its vast oil resources. The domestic mining industry is underdeveloped, leading to Nigeria having to import minerals that it could produce domestically, such as salt or iron ore. Rights to ownership of mineral resources is held by the Nigerian government, which grants titles to organizations to explore, mine, and sell mineral resources.

About thirty-four (34) minerals deposits have been identified in Nigeria and one of such is Granite. Granite is a coarse-grained intrusive igneous rock composed primarily of light-coloured minerals.

Crushed granites are small chips of granite, used as a base layer for paving. They are rock-aggregate used in building and general construction.

In 2008, It was estimated that the granite chipping demand in southwestern Nigeria was about 24.2 million tons while the total production was about 18 million tons leaving a supply gap of 6.2 million tons. This translates to an annual market size of over N 48 billion

The supply gap has been identified to continue to expand as construction activities in the region continue to grow at a faster rate than the increase in production of granites. According to The Netherlands Development Finance Company (FMO) Nigeria’s housing deficit to date is 17 million housing units on a total population of 140 million with virtually no organized mortgage market.

In addition, infrastructural development particularly with the Federal Government commitment is expected to further expand demand for granite aggregates which are a major input in the construction industry.

For example, the Lagos – Ibadan expressway modernization and expansion project awarded to Bi-Courtney at a cost of N89.5 billion ($610million) is expected to offer an immediate market opportunity for the investment.

The major commercial and economic nerve centers around the project site are Lagos, Ibadan, Abeokuta, Sagamu etc.

The quarry will process rocks into granites aggregates including stones and sand dust. The stones output will be in variety of sizes ranging from ¾ inch to less than ½ inch (stones) and are rich in quartz and K-feldspar, all of which are standard sizes in the construction industry.

The capacity of the proposed plant is one hundred (100) tons per hour and comprises of the Jaw Crusher, Vibrating Feeder, Cone Crusher and Vibrating Screens. Other auxiliary equipment’s include excavator, wheel loader, wagon drill, air compressor, dumper truck, power generator and weigh bridge.

The plant would operate at seventy percent (70%), seventy-five percent (75%), eighty percent (80%), eighty-five percent (85%) and ninety percent (90%) of the installed capacity working a single shift of eight (8) hours per day working for three hundred (300) day per annum in the first, second, third, fourth and fifth years of operations and producing one hundred and sixty-eight thousand (168,000) tons, one hundred and eighty thousand (180,000) tons, one hundred and ninety-two thousand (192,000) tons, two hundred and four (204,000) tons and two hundred and sixteen thousand (216,000) annually.

The plant would produce twenty percent (20%) of stone dust 0-1/4 inch, thirty-five percent (35%) of 1/2 inch and forty-five percent (45%) of 3/4 inch as output.