Nigeria lead ore reserve is estimated at 10million metric tons. As at today it is estimated that only about 2% of this has been mined till date. Lead is a chemical element that is assigned the symbol Pb (from the Latin plumbum) and the atomic number 82. It is a heavy metal that is denser than most common materials. Lead is soft and malleable, and has a relatively low melting point. When freshly cut, lead is bluish-white; it tarnishes to a dull gray color when exposed to air. Lead has the highest atomic number of any stable element
Rocks are composed of minerals. Minerals are natural occurring element like Gold, or a compound such as iron oxide. If a rock contains a mineral from which a metal can be extracted at a profit, it is called an ore examples are zinc ore, Lead ore.
USES OF LEAD
Lead has high density, low melting point, it is ductile and its relative inertness to oxidation makes it very useful. These properties, combined with its relative abundance and low cost, resulted in its extensive use in construction, plumbing, batteries, bullets and shot, weights, solders, pewters, fusible alloys, white paints, leaded gasoline, and radiation shielding.
MARKET
Export of crude lead ore food business but refining to obtain pure lead ready to be used is better although it requires enormous investment so also is the return on investment. World consumption of refined lead was 11.1 million metric tons in 2016. The leading refined lead consuming countries were China, the United States, and Germany. Demand for lead worldwide is expected to grow largely because of increased consumption in China, which is being driven by growth in the automobile and electric bicycle market
REQUIREMENT AND CONDITIONS FOR MINING LEAD 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 Lease from the original owner. Approval must be obtained from the Ministry of Solid Minerals Development for such a purchase.
- Fresh mining lease
Procedure for Mineral Title Licences/Leases and Permits:
Duly completed application form
Coordinates of the area of application
Certificate of incorporation
Attestation
Letter of consent from landowner(s)/occupier(s)
Types of minerals
Work programme/pre-feasibility report
Evidence of payment
Technical capability
Financial capability
In order to encourage investment in the solid minerals industry in Nigeria, Government is offering the following incentives
- 3-5 years Tax Holiday
- Deferred royalty payments
- Possible capitalization of expenditure on exploration and surveys
- Extension of infrastructure such as roads and electricity to mining sites, and provision of 100% foreign ownership of mining concerns.
The mining industry in Nigeria is regulated by the Nigerian Minerals and Mining Act of 2007, National Minerals and Metals Policy 2008 and Nigerian Minerals and Mining Regulations 2011.
CONCLUSION
Business Advisory Network ‘BAN’ will work with you and assist you to process mining lease from the federal government. We will help you source for a site with rich mineral content. Mining is a technical field although the financial reward is enormous, therefore to succeed you needs experts to guide you to avoid fatal mistakes that will erode your capital.
Other things BAN can do for you include but not limited to help you to determine the grade of lead ore in the site, source market for your mined minerals, both locally and internationally BAN will also help you arrange security at your mining sites. It will interest you to know that export of refined pure LEAD is where you make a kill. BAN will help you to set up a refinery for lead ore in Nigeria. The capital outlay for this is huge but even so much more is the return on investment. If we have refined 100% lead in Nigeria it will be easy for a Nigeria company to provide lead battery and for the military to produce Lead Bullets, Pencil.