The mining industry is easily recognized as one of the most valuable sectors of an industrialized economy because its linkage to other sectors of development and its enormous capacity to support and simulate growth in virtually all sectors of the economy.
As Nigeria strives to achieve vision 20:2020 which is to be amongst the top 20 economies by the year 2020, it is important that government pay attention to the development of the various minerals deposits in the country because of the nations comparatively advantage over its neighbors in this area.
In fact , it can be said that the more a nations mining industry grows , the more they prosper economically and examples can be seen across the world from Canada to Australia, India ,they all have a vibrant mining industry.
One of the minerals that can be found in the country is lead ore. It is estimated that the nations has over 10,000,000 tons of lead ore deposit and to take advantage of this resources, interested investors can mine/source and export the product.
FACTS ABOUT LEAD ORE
Background: 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 poor metal. It is also counted as one of the heavy metals {Source: Wikipedia}.
Estimated National Deposit: About 10,000,000 deposit have been discorved in Nigeria.
Export from Nigeria: Less than 2% of national reserve
Uses: Lead is a major constituent of Lead- Acid battery
Areas of Production: Lead ore are mined in Akwanga, Nassarawa Eggon and Wamba all in Nassarawa State. They are found in Jos in Plateau State, Alkaliri Local Government in Bauchi State and Filia in Gombe State. Taraba, Kaduna and Kogi.
Ores (metals) are traded internationally and comprise a sizeable portion of international trade in raw materials both in value and volume. This is because the worldwide distribution of ores is unequal and dislocated from locations of peak demand and from smelting infrastructure.
Most base metals (copper, lead, zinc, nickel) are traded internationally on the London Metal Exchange, with smaller stockpiles and metals exchanges monitored by the COMEX and NYMEX exchanges in the United States and the Shanghai Futures Exchange in China.
The World Bank reports that China was the top importer of ores and metals in 2005 followed by the USA and Japan.
The market for lead ore especially the overseas market in China is large, expanding and sustainable because of the numerous uses of lead ore. Buyers usually would like to secure steady source of supply of these products.
An exporter that is able to secure a contract at the right price would have an uphill task meeting the demand of the buyer because the output from the mines in Nigeria is low due to the use of crude implement. You can imagine a situation whereby the daily need of the factory of the buyer is 600/MT and the exporter would struggle to supply 500/MT on a monthly basis.
The return on investment on the export of lead ore is estimated between 10%- 15% per transaction.
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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 export of lead ore in Nigeria by clicking on the link below.
Report Title: LEAD ORE EXPORT IN NIGERIA; THE FEASIBILITY REPORT.
Report Code: FORA/08/2011/037
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