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For a nation that wants to develop her economy, it must look inwards to identify areas where it has comparative advantage over other nation and efforts should be geared towards the development of the identified areas.
Apart from the hydrocarbon {crude oil} deposit which is Nigeria is well blessed with, the country also have comparative advantage in the solid minerals sector owning to the large deposit of mineral deposit in the different parts of the country and if the Nation is to develop and attain her vision of 2020 target, more efforts should be geared towards the development of the solid mineral sector of the Nigeria economy.
There is no doubt that Nigeria is blessed with so many mineral deposits. As at the last count, the federal ministry of mines and steel development have found over five hundred{500} location of mineral deposit in the country and identify Nine {9} that they would want to concentrate on and promote and these include Iron ore,Coal,Tin Ore,Bitumen,Gold,Columbite-Tantalite, Lead/zinc,Wolframite and industrial minerals .
About 34 minerals deposits have been identified in Nigeria and one of such is Zinc Ore.
The Non-ferrous industrial metals contain a group of minerals which include copper, lead, zinc, tin and aluminium bearing minerals. All are found in Nigeria at varying concentrations and different forms.
Zinc (Zn) is sought as calamine (calamine lotion) also known among mineralogists as hemimorphite: Zn4(OH)2Si2O7.H2O. The most common occurrence is as sulphide: sphalerite (ZnS) and carborate-smithsonite (ZnCO3). There are at least 52 other zinc bearing minerals.
Zinc is the 24th most abundant element in the earth’s crust and is a metallic chemical element with symbol Zn and atomic number 30.
In the raw form, there are two grades of Zinc Ore, high and low. The low grade is usually from 10%- 40% and high grade from 50%-90%.
The occurence and distribution of Zinc ore in Nigeria mainly around the Beneu Trough. Economic Pb-Zn mineralisation is restricted to the Southern parts of the Trough.
Associated with the Pb-Zn ore are chalcopyrite, siderite,azurite, malachite and marcasite. Upwards to the middle and upper regions of the trough are important deposits of salt, barite, Limestone, and fluorite as well as argentiferous galena and gypsum. All these deposits owe their genesis to aulacogen development which in turn is a tectonic feature.
All other forms of mineral deposits found in Nigeria are largely due to some form of secondary processes. The processes may be sedimentary or metamorphic. These include iron ore deposits, uranium, gold and many varieties of industrial minerals. A careful study of the genesis of each of these deposits will show that the ultimate source of the mineralizing ingredients (metal sulphur, oxygen etc) is from within the earth’s interior.
There, they are mobilized in the process of magmatism and ultimately exposed as part of primary igneous rocks, the parent of both metamorphic and sedimentary rocks. These, therefore, are remotely related to tectonism.
It is estimated that Nigeria has over 10,000,000 tons of Zinc ore deposit. The major uses of zinc are anti – corrosion coating on steel {Galvanizing}, precision components {die casting}, construction materials, brass production, pharmaceuticals and cosmetics. The prospect of global economy is promising, so the automotive industry which is closely related to the Zinc market, is witnessing growth thereby creating more demands for the product.
Obtaining Mining Lease in Nigeria
There are two options available to a company or an individual to enter into the mining industry in Nigeria.
Through the acquisition of an existing mining property from the original owner. Approval must be obtained from the Ministry of Solid Minerals Development for such a purchase.
By obtaining on application, either a Prospecting Right (PR), an Exclusive Prospecting Licence (EPL), or a Special Exclusive Prospecting Licence (SEPL), the application should state financial and technical capability qualifying the applicant for entry into the mining sector.
Incentives / Government Policy on Mining in Nigeria
In order to encourage investment in the solid minerals industry in Nigeria, Government is the offering the following incentives
1. 3-5 years Tax Holiday
2. Deferred royalty payments
3. Possible capitalisation of expenditure on exploration and surveys
4. Extension of infrastructure such as roads and electricity to mining sites, and provision of 100% foreign ownership of mining concerns.
The mining industry in Nigeria is regulated by the The Nigerian Minerals and Mining Act of 2007,National Minerals and Metals Policy 2008 and Nigerian Minerals and Mining Regulations 2011.
The percentage of royalty charged in the mining industry in Nigeria range between 3%- 5%.
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