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Monday, 18 February 2013 11:22

MINING OPPORTUNITIES IN NIGERIA; PHOSPHATE ROCK MINING IN NIGERIA.

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From June, 2013 Foraminifera Market Research would start publishing our E- magazine. The magazine would focus on investment and business opportunity in Nigeria. Be the first to get hot investment and business opportunities in Nigeria by subscribing to our E- Magazine, Investing in Nigeria.

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MINING OPPORTUNITIES IN NIGERIA; PHOSPHATE ROCK MINING IN NIGERIA.

Nigeria is endowed with numerous mineral resources. Recent policy reforms have brought the solid minerals sector to the fore. The emphasis is on encouraging massive foreign investors' participation 'in this sector. 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.

About 34 minerals deposits have been identified in Nigeria and one of such is Phosphate Rocks.

Phosphate rock refers to a mineral assemblage that occurs naturally with an exceptionally high concentration of phosphate minerals. Phosphate usually occurs as the mineral apatite, Ca5F (PO4)3 in igneous and metamorphic rocks. It may be derived from a number of sources but the most common is the one that contains high concentration of phosphates in nodular or compact masses.

Phosphate fertilizer and detergents are the major user industries of phosphate rock. Metal treatment, water treatment, pulp and paper, glass and ceramics, textiles, plastics, rubber, pharmaceuticals and cosmetics, petroleum production, toothpaste, paints, fuels, cells are other end-user industries of phosphate rock.

Since phosphates are produced in a few countries and are consumed in most, there is a large international trade in phosphate rock, phosphoric acid and phosphate fertilizer. Growth in fertilizer demand worldwide is expected to average annual 2.7% over the next few years, which will directly increase demand for phosphate rock. The Federal super-phosphate Company, Kaduna and the National Fertilizer Company, Port-Harcourt requires about 300,000 tonnes of phosphate rock per annum. Other areas of phosphate use are in Flame retarder/fire extinguisher production, food and beverage industries, dentistry etc. All these would also increase future demand.

Locations of Phosphate Deposits in Nigeria

The Nigerian phosphate rock deposits are sedimentary in origin. They occur mostly in granular, nodular and vesicular forms with an average weight percent of P205 varying from 34.5 to 36.25%, which compares favourably with the phosphate at Hahotos, Togo (36.6%).

Occurrences of phosphate rock are known in Sokoto, Abia, Cross Rivers, Kogi, Ondo and Ogun States. The deposits of phosphate beds in the Sokoto embayment represent southward extension of the deposits in Niger Republic.

The deposits are found in areas within the geological feature termed the Illummeden Basin.

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 percentage of royalty charged in the mining industry in Nigeria range between 3%- 5%.

Should you require a market research report {market report, business plan or pre-feasibility report} on the above subject matter, please do contact us using of the means below.


Do you know you can access to over 50 market research reports and our monthly E- Magazine for 12 months for just N 5,000?

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At Foraminifera Market Research {www.foramfera.com}, we provide bespoke and up to date market research reports for start-ups and those already in business.

Our reports are designed to assist start-ups to understand the legal and financial requirements of starting the business, the market trends vis-a-vis demand and supply, competition, risk identification and mitigation strategies.

Do you require one- on- one consultancy on the subject matter? Contact us with any of the details provided below to arrange a meeting

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HUMAN DEVELOPMENT PROGRAMMES AND TRAINING OPPORTUNITY IN NIGERIA

Our human development training programmes are designed to assist our client set-up their respective business on a sound footing.

The training cuts across different segment of the economy to include Agriculture, Export and Import, Food and Beverage, Manufacturing, Mining and Quarry, Oil and Gas, Retail Industry, Telecommunication, Tourism and Transportation and are facilitated by seasoned professionals in their respective fields.

Please do visit the link below to access available training programmes

http://www.foramfera.com/index.php/human-development-programmes-and-training-opportunity-in-nigeria

We prepare business plan, feasibility study and market report for the small and medium scale industries and develop the entrepreneurial capacity of our client with the aim of providing the much needed business data in Nigeria.

In keeping with our vision of providing services that adds value to our clients business and resources to develop their business into a strong and visible global brand, we would like to introduce to you to our sister websites

www.nigeriaoilandgasportal.com { The one stop for the oil and gas industry in Nigeria}

www.nigeriabusinessplace.com {Online Business Forum}

The details in this article is based on information from various sources that we believe are reliable; however no representation is made that it is accurate or complete. While reasonable care has been taken in preparing the articles, no responsibility or liability is accepted for errors of fact or for any opinion expressed herein. The articles are for information purposes only.

Foraminifera Market Research accepts no liability whatsoever for any direct or consequential loss arising from any use of the articles or its contents.

The articles are for private circulation only and may only be distributed freely in its entire form. Any other use without the prior express consent of Foraminifera Market Research is prohibited.

 

Read 1764 times Last modified on Friday, 06 December 2013 12:10

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