For the benefit of those who need to know, an attempt would be made to define mineral and metal ore. Mineral is an inorganic substance found in nature with a characteristics chemical composition and in some cases, of definite crystal structure. The earth crust contains rocks of different composition with different physical properties. Some hard, some soft.
Rocks are the materials which the earth’s upper crusts are made of. Rocks are themselves composed of minerals. Minerals are naturally occurring elements like Gold, or a compound such as Iron Oxide. If a rock contains a mineral from which a metal can be extracted at a profit, it is call an Ore. For example, Lead Ore.
Lead is a main group element in the carbon group with the symbol Pb {Latin: plumbum} and atomic number 18. Lead is soft, malleable metal. It is also counted as one of the heavy metals.
In the raw form, there are two grades of lead, high and low. The low grade is usually from 10%- 40% and high grade from 50%-90%. Lead ingot, the product gotten from the smelting of lead ore, is a major constituent of Lead- Acid battery. Lead is used as a coloring element in ceramic glazes, notably in the colors red and yellow. Lead is used as projectiles for firearms and fishing sinkers because of its density. Lead is also used in high voltage power cables as sheathing material to prevent water diffusion into insulation.
The market for lead ore is both local and international with china as the largest importer of lead ingot in the world. With the global lead ingot supply and demand balance converting the deficit in 2007 to a surplus in 2008, lead price retreated gradually in 2008 after rocketing greatly in 2007.
Impacted by the worsening global financial crisis, which was triggered by the US sub-prime lending crisis, the global economy turned down. Amid the depressed condition, the already weak base metals plunged greatly in the fourth quarter of 2008. After touching $ 3,470/t on LME {London Metal Exchange early March, 2008, the highest price since November 15, 2007, lead price began heading down gradually. The metal even hit $850/t in mid December 2008, the lowest level since June 2004.
The prospect of global economy is promising, so the automotive market, which is closely related to the lead market, is witnessing growth thereby creating more demands for the product.
The business involves the procurement, milling and packaging of lead ore, a very important component of lead-acid battery used in the automobile industry. They are used as coloring element in ceramic glazes, notably in the colors red and yellow and as projectiles for firearms and fishing sinkers because of its density. Lead is also used in high voltage power cables as sheathing material to prevent water diffusion into insulation.
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Report Title: LEAD ORE MILLING, PACKAGING AND EXPORT IN NIGERIA; THE FEASIBILITY REPORT
Report Code: FORA/2013/004
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