Description

The metals sector in Nigeria today is yet to reach its full potential particularly in the development and consumption of key metallic products as iron, tantalite, copper, aluminium, tin, lead, zinc etc. and in exploitation of key noble metals such as gold and silver. With the nation’s capacity, potential and resource base, all these products can readily be developed and used to jumpstart the rapid industrialization and economic growth of the economy.

The new metals policy is predicated upon the need to develop a vibrant metals sector where government will play the role of administrator-regulator with the private sector as owner-operator and would enable Nigeria become a major regional and global producer of mineral products.

One of such minerals that can be developed for the growth of the country is tantalite. 14,223 tons of which are found in Plateau State; is used in forming alloys that are useful in nuclear, aerospace, gas turbine engineering and Foraminifera Market Research seeks to expose the investment opportunity in the export of the product through this feasibility report.

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.

Ta2O5%: 15% to 20%
Nb2O5% 15%
Tho2+U3O8 ;0.068%

Large deposits of Tantalite are known to occur in Nasarawa, Gombe and Kogi States as well as the Federal Capital Territory. The deposits are both alluvial and primary in the numerous pegmatite bodies that infest these areas.

The market for tantalite especially the overseas market in China is large, expanding and sustainable because of the numerous uses of tantalite. 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 tantalite is estimated between 10%- 15%.