Granite is a coarse-grained intrusive igneous rock composed primarily of light-coloured minerals. Crushed granites are small chips of granite, used as a base layer for paving. They are rock-aggregate used in building and general construction.
Primary aggregates are materials extracted directly from the ground in quarries or pits. They can be either sand and gravel, or hard rock. Hard rock deposits are quarried from a fresh face and broken by mechanical means into aggregate. Geologically they can be igneous rocks such as granite or basalt; sedimentary rocks such as limestone or sandstone; or metamorphic rocks such as quartzite. As aggregates, they are often referred to as crushed rock or by their individual geological names.
Explosives will need to be used to break the rock face into pieces and often the rock will pass through several stages of crushing and screening to create the final product.
The deposits in Oyo and ogun state, where about 80% of the quarries in the South West region are located, are majorly igneous rock. As such, out products will be mainly granite of various output sizes.
Every new construction site or existing commercial/ residential building has a need for granite aggregates products.
In 2008, it was estimated that the granite chipping demand in southwestern Nigeria was about 24.2 million tons while the total production was about 18 million tons leaving a supply gap of 6.2 million tons. This translates to an annual market size of over N48 billion.
The supply gap has been identified to continue to expand as construction activities in the region continue to grow at a faster rate than the increase in production of granites. According to The Netherlands Development Finance Company (FMO) Nigeria’s housing deficit to date is 17 million housing units on a total population of 165 million with virtually no organized mortgage market.
This report seeks to examine the financial viability or otherwise of establishing granite quarry plant in Nigeria.The Quarry will process rock blasts into granites aggregates including stones and sand dust. The stones output will be in variety of sizes ranging from ¾ inch to less than ½ inch (stones) and are rich in quartz and K-feldspar, all of which are standard sizes in the construction industry. Various other sizes will be produced to specification.