Investment opportunities in the solid minerals industry in Nigeria tends to be focused on the mining and trading aspect of the industry , thereby leaving the processing and beneficiation aspect to suffer.
It is common knowledge that most of the minerals sold in the country are sold in the raw form with any value addition in order to derive more revenue from the products mined therefore leading to great amount of lost.
Like was mentioned in one of my articles, the lack/insufficient supply of processing facilities in Nigeria is one of the biggest problem in the industry. Their presence would activate the use of high tech facilities in the mining industry in Nigeria, increase output ,create employment and open the door for foreign investment in the sector.
Virtually every mineral can be beneficiated. Beneficiation is a process of increasing the ore concentrate of a mineral through mechanical means. For instance, the increase of tin ore of 5% concentration to 50% concentration.
Some of the equipment required for the beneciation of the tin ore is given below
ELECTROMAGNETIC VIBRATION FEEDER
BALL MILL
SPIRAL CLASSIFIER
AGITATING TANK
FLOTATION MACHINE
Beneficiation increases the percentage of a particle mineral in the gang body thereby adding value to the product and the market price it commands. Without beneficiation, the price of tin ore 5% in the international market would be around $200/mt but with beneficiation to 50%, the price at the international market would be around $ 2000/mt, same could be said for lead, zircon sand, talc, tantalite, Kaolin, Zinc, Copper etc.
Should you require a market report/feasibility study on the above subject matter, please do contact us.
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