6 Lucrative mining business ideas and opportunities in Nigeria.
The mining sector in Nigeria continues to grow and draw more press focus annually. While accounting for only 0.3 percent of the nation’s GDP, it remains a rewarding one, since the future holds much more prospects.
The greatly underdeveloped state of the mining sector causes Nigeria to import a majority of its minerals, which might have been generated locally. Its neglect was mostly brought on by the discovery of oil in 1956.
If you are Considering starting a business in the mining business, here are 6 mining company ideas and opportunities you can use:
Gold Mining:
Gold deposits are mostly found in the Northen part of Nigeria. They can be located near Maru, Anka, Malele, Tsohon Birnin Gwari-Kwaga, Gurmana, Bin Yauri, Okolom-Dogondaji, and Iperindo.
Ever since the Nigerian Mining Corporation (NMC) was put up throughout the 1980s to mine for Gold, the government’s taste for effortless cash from gas & oil generated a fail from the corporation, resulting in a scarcity of money, until an eventual collapse.
In case you’ve got the capability to receive investors to get a gold mining company, its worldwide demand and high-rise worth makes it an chance to research.
Iron Ore:
More than 3 billion tons of iron ore are located in Kogi, Enugu, Niger, Zamfara and Kaduna States. Despite this high amount, the big deposits of iron ores in Kogi and Enugu haven’t been completely researched.
Iron ore may be utilised in producing steel, technology functions, transformers, motor cars, metals such as electrical shielding, gear racks, electromagnetic devices, electric bells, and a lot of different products.
Coal Mining:
Nigeria has extremely substantial coal reserves estimated to be worth at least two billion metric tons. The nation’s coal wealth, particularly in regions like Enugu country, Anambra, Kogi, Delta, Gombe, and Benue, which makes it another rewarding mining chance for deep-pocket people to venture into.
Columbite Wolframite and Tantalite Mining:
Columbite Wolframite and Tantalite are employed in the creation of niobium and tantalum components, which can also be referred to as Coltan in Africa. They’re also employed as a supply of valuable stones such as beryl, aquamarine, and tourmaline, and therefore, makes it an exceptionally valuable mineral.
Limestone Mining:
Limestone have a huge number of usages such as construction materials, glass, concrete, and also to purify iron from blast furnaces. Its broad applications makes it a company opportunity to participate in.
Bitumen Mining:
Bitumen is just another mineral source, with Nigeria with an estimated 38 billion barrels of it and also a minimal reserve of approximately 16 billion barrels in Ondo State alone. They’re also referred to as oil plantations, haven’t yet been manipulated, and therefore are thought to become a potential source of revenue for the Nigerian market.
Many bitumen deposits are located in Lagos, Ogun, Ondo, and Edo State.
