Description

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.

Lead 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. Low cost compared to alternative products and ease of use due to relatively low melting point. Lead is also used in high voltage power cables as sheathing material to prevent water diffusion into insulation.

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.

The market for lead ore is both local and international with china as the largest importer of lead ingot in the world.

This report seeks to examine the financial viability or otherwise of mining lead ore in Nigeria and the export of mined product (lead ore 50%).

The business entails using mechanized method of mining to produce five hundred (500) tons bi-monthly of lead ore rocks of which minimum of one hundred (100) tons of lead ore 50% will be extracted from the rocks after sorting.