8:00 - 17:00 (GMT+1)

We are open Monday – Friday

(+234)803.486.9295

We are available 24/7. Call us

Search
 

Mining and Solid Minerals

Nigeria: Mining/Solid Minerals

Natural resources and minerals play a great role in country’s economy. Nigeria is blessed with several natural and mineral resources that are widely distributed across the length and breadth of our land. Nigeria’s solid mineral deposit is estimated to be in billions of metric tons and is capable of creating millions of jobs and also generates more revenue than crude oil. Below is a list of different solid minerals in Nigeria.

COAL

This is used as fuel and in industrial production of tar, gas and non-edible oils. The total reserve of coal in Nigeria is estimated to be about Five Hundred Million (500, 000, 000) tons. Large coal reserves are discovered on the banks of the Niger, near Asaba and Onitsha and also to the North of Benin.

ROCK SALT

Agrochemical raw materials in Nigeria are presented with rock salt and phosphates. Significant deposits of rock phosphate are found near Abeokuta while there are salt springs at Awe (Plateau state), Abakaliki (Ebonyi state) and Uburu (Imo state).

GOLD

This is mined from placer and ore deposits. It is more suitable to start mining gold from placer deposits. They require lower investment and are less risky for an investor. In the crystalline rocks of Northern Plateau along Niger valleys and some of its tributaries from the Plateau of Yoruba you can find gold. Small gold placer mines (Zamfara, Bishini) are concentrated in Central, West and North West of the country ( Maru, Anka, Malele, Gurmana, Bin Yauri, Okolom –Dogondaji)..

IRON

This is used for making steel, transforms and motor cars, ferrous sulphate from waster liqueur of the steel picking process or by the direct reaction, metals for electrical shielding, electro – magnetic devices, electric bells, electric fan cage, equipment rack, instrument body, engineering works, hydrated salt, iron oxide pigments, various salts of iron and ferrites and chemicals. There are many deposits of iron ores in sedimentary rocks. Among the states with iron mining development are Enugu, Nassarawa, Kogi, Abuja, and Zamfara etc.

TIN

This is used in production of tin oxide used in paint, paper and ink industries, production of tin oxide resistors, and electric lead wires. Deposits of tin, niobium and tantalum ores are located on the Jos Plateau and to the North on Bauchi Plateau. The highest content of these metals is observed in granites.

GEMSTONE

Some of the precious stones which were found in Nigeria are sapphires, tourmalines, aquamarines, topaz, emeralds. There are still few enterprises involved in gemstone mining in Nigeria.

LEAD ORE

Among states with biggest lead ore reserves are Cross River, Ebonyi, Plateau, Zamfara and Federal capital Territory, Abuja.

TANTALITE

Large deposits of tantalite are known to occur in Nassarawa, Gombe and Kogi state as well as the Federal Capital Territory.

COPPER

Nigeria has about Ten Million (10,000,000) tons of copper ore. It plays an important role in the structure of various electrical appliances due to the fact that it is one of the best electricity conductors.

GYPSUM

This is an important input for the production of cement. Current cement production is put at Eight Million (8,000,000) tons per annum while the national requirement is 9.6 million tons. About 1 billion tons of gypsum deposits are spread over many states in Nigeria.

The body in charge of development of mineral resources in Nigeria is National Policy on Solid Minerals while the legislation, Nigeria Minerals and Mining Regulation 2011 provides for the procedures for granting licenses to investors (both local and foreign) and guaranteed access to mining sites with minimal encumbrances. Such licenses are obtained through any of the following mining titles: Reconnaissance permit, exploration license, small scale mining license, mining license, quarrying license, water policy.

Owning to better profits from the mining industry, the Nigerian government tries to put in all its efforts and money in developing same. Individuals can as well make use of these resources since there are a lot of incentives in place to even encourage investors. Investing in these resources is not restricted to Nigerians but foreigners as well.

Investment in Nigeria’s Solid Minerals and Mining sector is guaranteed to bring about huge returns, because it is an untapped sector which had been ignored in the past due to the Oil boom. But with dwindling oil prices and global Oil industry glut interest in the sector has peaked.

For more information, advise and consultation bothering on immigration issues, foreign investment and participation in the Mining and Solid Minerals or any other sector in Nigeria, contact:

Business Advisory & Investment Dept

5A Dozek Close, Off Alternative Route,
Chevron Drive, Lekki, Lagos State, Nigeria.
TEL: +2348034869295, +2348020550410
E-mail: info@princejoelandassociates.com

Contact us now

free consultation
[contact-form-7 id="691" title="Contact form 1"]

Nigeria in Video

what we are best at

Immigration Advisory

Services we offer
  • Nigeria Immigration
  • Business Trips
  • Trade Promotions
  • Visa Advisory
  • Expatriate Mgt