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 34 minerals deposits have been identified in Nigeria and one of such is barite ore. Barite has many applications; the most significant of it is its usage by the oil companies when drilling for crude oil or petroleum. Other importance of Barites are highlighted below
• Used in the manufacturing of drilling mud without which petroleum prospecting will be impossible. In fact, the demand for Baryte by the oil companies is more than the demand for water by human beings but the supply is very low because only a very few individuals are aware of this business opportunity.
• Used by chemical industries in the manufacturing of Barium compounds such as chloride, nitrate, carbonate, and hydrate e.t.c.
• Used in paper and plastics productions
• Used by textiles industries as weighting materials
• It is also used metallurgical industries for Brass melting e.t.c.
• Also used in manufacturing glass, paints e.t.c
Because of the numerous uses of barite ore, there is steady and increasing demand for the product.
The quality of the Nigerian Barytes is moderate to high. It is often associated with fluorite, calcite, dolomite, quartz, etc. The major impurities are quartz, iron oxide (goethite), and carbonates of iron, calcium and magnesium.
These impurities tend to reduce the specific gravity of the unprocessed barytes which range from 3.0 – 4.0. and increase the cost of the processing and wears out mills rapidly. The goethite and silica impurities can be removed by magnetic and gravity separation. Once processed the specific gravity of the Nigerian baryte increases and meets the 4.20 specified value.
Barytes bearing veins are found mostly in the area geologically referred to as Middle Benue Trough.
Nigeria has an estimated reserve of over two million {2,000,000} metric tons of barite ore scattered in different parts of the country to include Benue, Nassarrawa, Plateau and Cross River states.
Baryte occurs and has been mined at the following locations in large quantity.
Nasarawa State : Azara, Keana, Kuduku, Aloshi all at Keana local government area of Nassarawa state.
Plateau State: Yelwan Shendam LGA
Benue State: Gboko, Guma, Gwer, Ushongo, Makurdi, Konshisha, etc
Cross Rivers State: Obubra LGA, Ikom LGA, Akpet central, Ogoja LGA.
Taraba state: Serikinkudu Akire LGA
The project involves the mining, milling and packaging of different sizes of barite ore for sale to oil and gas companies, paint and plastic companies.
The business is lucrative and the return on investment is good.
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At Foraminifera Market Research {www.foramfera.com}, we provide bespoke and up to date market research reports for start-ups and those already in business.
Our reports are designed to assist start-ups to understand the legal and financial requirements of starting the business, the market trends vis-a-vis demand and supply, competition, risk identification and mitigation strategies.
You can order any of our detailed feasibility report on barite ore mining, mining and trading in Nigeria by clicking on any of the links below.
Report Title: BARITE ORE MINING IN NIGERIA; THE PRE- FEASIBILITY REPORT.
Report Code: FORA/05564-807/2015/BARITEOREMININGINNIGERIA/10828210
Report Title: BARITE ORE PROCESSING IN NIGERIA; THE FEASIBILITY REPORT.
Report Code: FORA/2013/001
Report Title: BARITE ORE TRADING IN NIGERIA; THE FEASIBILITY REPORT.
Report Code: FOR A/08/2011/11
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