An established and well managed solid minerals
sub-sector will accelerate economic, social and political growth of Nigeria by
provision of gainful employment and a rise in national income earnings far
exceeding the petroleum sector. In addition, solid minerals will provide local
raw materials for industries and bring vital infrastructure and wealth to rural
areas.
Solid minerals have capacity to provide the
all-important launching pad for the development of other sectors of the economy
as well as give sense and meaning to the oneness of the Nigerian state as
minerals are located in all states of the Federation. This will douse the
agitation for resource control. It is therefore vital that the nation explores
this latent potential which has slumbered over the years.
Solid minerals contributed immensely to the
economic development of Nigeria in the pre-independence years. During this
period, Nigeria was known for the production of coal as an energy source for
electricity, railways and also for export. Tin, Columbite, Lead and Zinc were
exported. Nigeria was the largest producer of Columbite at one point. The
earnings from solid minerals were used to develop roads, education, hospitals
and in fact develop the petroleum industry.
The decline of the solid minerals industry
started with the discovery of oil to an extent that Nigeria became a mono
product economy and vulnerable to international oil politics. The domineering
role of oil did not allow past governments to attend to global challenges that
evolved in the development of solid minerals.
The neglect of the minerals industry led to
disorder in the mines field with strong presence of illegal miners whose
activities are characterized by inefficient mining, illegal trading of highly
priced minerals, severe ecological degradation, spread of diseases and huge
loss of revenue to the government through smuggling.
On the other hand, Mining continues to play a
key role in the development of Africa's economies. Countries like South Africa,
Ghana and Tanzania, remain critically dependent on the earnings of solid
minerals. As a result, countries introduced liberal reforms to meet intense
competition to attract investment funds. Ghana for example undertook
significant reforms both in legal and institutional frame-work and to the
general organization of the sector. The result has been growth in mining
investment. Tanzania is now a leading destination for exploration funds due to
the deliberate government attention to the development of mining. Burkina Faso
and Mali have also become strong mining countries.
Following the global economic recession of the
late 1980s and early 1990s, developing countries started liberalizing their
external trade to improve balance of payment, increase economic growth through
the provision of incentives to attract capital in-flow and investment.
The developing countries especially in Africa
and Latin America turned to Solid Minerals exploration as a solution to
sustained economic growth. Nigeria's economy which is largely dependent on a
mono-product (petroleum) became vulnerable to fluctuations in oil prices with
the attendant shocks on the economy.
This informed the Federal Government's decision
to diversify the nation's economic base from oil to the non-oil sectors
including the development of solid minerals resources.
One of such minerals that have been identified
for development is columbite ore. They
are known to occur in the following states Plateau, Kano, Kaduna, Bauchi, Kogi,
Kwaara and Nasarawa States. Because of the numerous uses of Columbite, there is
steady and increasing demand for the product.
Columbite, also called niobite,
niobite-tantalite and columbite [(Fe, Mn) Nb2O6], is a black mineral group that
is an ore of niobium. It has a submetallic luster and a high density and is a niobate
of iron and manganese.
Columbite has the same composition and crystal
symmetry (orthorombic) as tantalite. In fact, the two are often grouped
together as a semi-singular mineral series called columbite-tantalite or coltan
in many mineral guides. However, tantalite has a much greater specific gravity
than columbite, more than 8.0 compared to columbite's 5.2.
Columbite is also very similar to tapiolite.
Those minerals have same chemical composition but different crystal symmetry:
orthorhombic for columbite and tetragonal for tapiolite. The largest documented
single crystal of columbite consisted of plates 6 millimeters (0.24 in) thick
measuring 76 by 61 centimeters (30 × 24 in).
Source of columbite ore used as an alloy of
steel to form weldable high speed steel for radio transmitting valves, heat
sensitive detective devices called barometer, for jet engines and other
aircraft components.
Coltan or Columbite Tantalite is used primarily
for the production of tantalum capacitors, used in many electronic devices.
It is also used in high temperature alloys for
air and land based turbines. The upsurge in electronic products over the past
decade resulted in a peak in late 2000 with inflated high demand and price
increases for the mineral which lasted a few months.
This report seeks to examine the financial
viability or otherwise of mining 4,000 tons of columbite rock monthly and processing same into columbite ore of 60%.
Report Details:
Report Type: Pre- Feasibility Report
Formats of Delivery: PDF / MS WORD
No. of Pages: 42 Pages (Text Part) / 6 Pages ( Excel Part)
Publisher: Foraminifera Market Research
Release Date: 30/08/2015
Language: English
Delivery time: 24– 48hours
Table of Contents:
EXECUTIVE SUMMARY
1. Business Overview
1.1 Description of the Business
1.2 Incentives / Government Policy
1.3 Obtaining a Mining Permit in Nigeria and Associated fees
1.4 Occurrence and Distribution of the mineral in Nigeria
1.4 Critical Success Factor of the Business
1.5 Description of the Business Industry
1.6 Contribution to Local and National Economy
2. Marketing Plan
2.1 Description of product
2.2 Location
2.3 The Opportunity
2.4 Pricing Strategy
2.5 Target Market
2.6 Distribution and Delivery Strategy
2.7 Promotional Strategy
2.8 Competition
3. Technical Analysis
3.1 Description of the Location
3.2 Raw Materials
3.3 Production Technology / Equipment
3.4 Production Process
3.5 Production Cost
3.6 Stock Control Process
3.7 Pre-Operating activities and expenses
3.7.1 Operating Activities and Expenses
3.8 Project Implementation Schedule
4.0 Organizational and Management Plan
4.1 Ownership of the business
4.2 Profile of the promoters
4.3 Key Management Staff
4.3.1 Strategic Business Units
4.3.2 Management Support Units
4.4 Details of salary schedule
5. Financial Plan
5.1 Financial Assumption
5.2 Start - up Capital Estimation
5.3 Source of Capital
5.4 Security of Loan
5.5 Loan Repayment Plan
5.6 Financial Projections
6.0 Business Risk and Mitigation Factor
6.1 Business Risks
6.2 SWOT Analysis
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