Nigeria is endowed with enormous mineral resources which when properly harnessed can lead to its industrialdevelopment and prospects. It is a known fact that countries abundantly endowed with mineral resources becomegreat industrial nations. While on the other hand, the level of greatness of a nation is often areflection of how its resources have been planned, managed and utilized.
The occurrence of mineralresources in commercial quantities alone does not however guarantee optimum benefit, factors such as technologicalcapacity, finance and market are also equally important.Nigeria is blessed with abundant mineral resources and human resources capable of tapping these resources for industrial growth, however, what is witnessed today is that most of the mineral development, especially theexploitation is done by informal and in most cases illegal miners using very crude techniques with no considerationfor the environment or human health.
The Ministry of Mines and Steel Development has identified and is promoting the development of 34 mineral resources in Nigeria which include iron ore, gold, coal, tantalite, bitumen, limestone,barite, gypsum, kaolin (MSMD) etc. The importance of mineral development of any nation cannot be overemphasized as it is one of the sources of industrial raw material supply, what must however, be emphasized is the manner in which the resources are developed.
One of such mineral that has been discorvered in commercial quantity in Nigeria is Tantalite Ore.Coltan {also columbite-tantalite and known industrially as tantalite} is a dull black metallic ore from which the elements niobium and tantalum are extracted. The niobium-dominated mineral is columbite hence the “col” half of the term. The mineral concentrates dominated by tantalum are referred to as tantalite.
Tantalite forms a series with the mineral columbite. In fact the two are often grouped together as a semi-singular mineral call columbite-tantalite in many mineral guides.
Tantalite is the most widespread tantalum mineral and makes for an important ore of the industrially useful metal. They are used in the production of tantalum based capacitors and alloys for strength and higher melting point, in glass to increase the index of refraction and in surgical steel as it is non – reactive and non-irritating to body tissue.
Tantalite’s greatest difference from columbite is it’s much greater specific gravity 8.0+ compared to columbite’s 5.2.
The business involves the sourcing of Tantalite Ore, milling and packaging same for export.
The commodity would be packaged in rakes of 50/80/100 KG depending on buyer requirement. Delivery would be FOB, Free on Board. The investor would load the goods on board the ship nominated by the buyer and clear the goods for export.
Unique properties of tantalum, which are indispensable to a few applications are expected to drive consistent demand for the metal. Increased usage of electronic equipment such as computers, mobile telephones, and video cameras, is expected to boost demand for tantalum capacitors. Consumption of tantalum metal for manufacturing sputtering targets is also projected to go up in the coming years. Furthermore, research activities for developing new applications for tantalum are underway.
Europe is the largest tantalum market in the world and is projected to reach 2.5 million pounds by the year 2010, as stated by market research reports. Asia-Pacific is projected to offer the highest growth opportunity with a CAGR of 6.75% over the period 2001-2010. In North America, tantalum consumption in electronics industry is expected to reach 614.8 thousand pounds by 2010.
Australia accounts for about 60% of global mine production of tantalum, followed by Brazil. The remaining share is occupied by Canada, and African countries such as Ethiopia, Rwanda and Mozambique. Tantalum is also obtained as a major byproduct from tin deposits in Nigeria and Malaysia.
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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 feasibility report on the milling, packaging and export of tantalite in Nigeria by clicking on the link below.
Report Title: TANTALITE ORE MILLING AND EXPORT IN NIGERIA; THE FEASIBILITY REPORT.
Report Code: FORA/2013/021
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