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.
The occurrence and distribution of Lead ore in Nigeria mainly around the Beneu Trough. Economic Pb-Zn mineralization is restricted to the Southern parts of the Trough. Associated with the Pb-Zn ore are chalcopyrite, siderite, azurite, malachite and marcasite.
Upwards to the middle and upper regions of the trough are important deposits of salt, barite, Limestone, and fluorite as well as argentiferous galena and gypsum. All these deposits owe their genesis to aulacogen development which in turn is a tectonic feature.
All other forms of mineral deposits found in Nigeria are largely due to some form of secondary processes. The processes may be sedimentary or metamorphic. These include iron ore deposits, uranium, gold and many varieties of industrial minerals. A careful study of the genesis of each of these deposits will show that the ultimate source of the mineralizing ingredients (metal sulphur, oxygen etc) is from within the earth’s interior.
There, they are mobilized in the process of magmatism and ultimately exposed as part of primary igneous rocks, the parent of both metamorphic and sedimentary rocks. These, therefore, are remotely related to tectonism
It is estimated that Nigeria has over 10,000,000 tons of lead ore deposit and it is an important component in car battery production. The prospect of global economy is promising, so the automotive industry which is closely related to the lead market, is witnessing growth thereby creating more demands for the product.
There are two options available to a company or an individual to enter into the mining industry in Nigeria.
Through the acquisition of an existing mining property from the original owner. Approval must be obtained from the Ministry of Solid Minerals Development for such a purchase.
Procedure for Mineral Title Licences/Leases and Permits:
Duly completed application form
Coordinates of the area of application
Certificate of incorporation
Attestation
Letter of consent from landowner(s)/occupier(s)
Types of minerals
Work programme/pre-feasibility report
Evidence of payment
Technical capability
Financial capability
In order to encourage investment in the solid minerals industry in Nigeria, Government is the offering the following incentives
1. 3-5 years Tax Holiday
2. Deferred royalty payments
3. Possible capitalisation of expenditure on exploration and surveys
4. Extension of infrastructure such as roads and electricity to mining sites, and provision of 100% foreign ownership of mining concerns.
The mining industry in Nigeria is regulated by the The Nigerian Minerals and Mining Act of 2007,National Minerals and Metals Policy 2008 and Nigerian Minerals and Mining Regulations 2011.
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At Foraminifera Market Research {www.foramfera.com}, we provide bespoke and up to date market research reports for beginners and exporters already in the commodity export market.
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 our detailed pre- feasibility report Lead Ore Mining in Nigeria by clicking on the link below.
Report Title: LEAD ORE MINING IN NIGERIA; THE PRE-FEASIBILITY REPORT.
Report Code: FORA/2013/07856
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