Nigeria is a miner’s delight because its mining laws and the process for mining title acquisition are simple. Mining of solid mineral in Nigeria is still in its infancy and investors who come in now will benefit enormously as virgin sites are scattered in many locations in the country. The benefit accorded an early bird in Nigeria mining industry will be enormous because government is willing to encourage investment in that sector and therefore is giving concessions to investors in the mining industry now. Concession can be in the form of tax rebates and support in sourcing of heavy duty equipment used in mining.
Silver is a chemical element with symbol Ag from the Latin argentum, with atomic number 47. It is a soft, white, lustrous transition metal, it exhibits the highest electrical conductivity, thermal conductivity, and reflectivity of any metal. The metal is found in the Earth’s crust in the pure, free elemental form (“native silver”), as an alloy with gold and other metals, and in minerals such as argentite and chlorargyrite. Most silver is produced as a byproduct of copper, gold, lead, and zinc refining.
Silver has long been valued as a precious metal. Silver metal is used in many bullion coins, sometimes alongside gold. As one of the seven metals of antiquity, silver has had an enduring role in most human cultures. Other than in currency and as an investment medium (coins and bullion), silver is used in solar panels, water filtration, jewellery, ornaments, high-value tableware and utensils (hence the term silverware), in electrical contacts and conductors, in specialized mirrors, window coatings, in catalysis of chemical reactions, as a colorant in stained glass and in specialised confectionery. Its compounds are used in photographic and X-ray film. Dilute solutions of silver nitrate and other silver compounds are used as disinfectants and microbiocides (oligodynamic effect), added to bandages and wound-dressings, catheters, and other medical instruments.
CHARACTERISTICS
Silver is similar in its physical and chemical properties to its two vertical neighbours in group 11 of the periodic table, copper and gold. Its 47 electrons are arranged in the configuration [Kr]4d105s1, similarly to copper ([Ar]3d104s1) and gold ([Xe]4f145d106s1); group 11 is one of the few groups in the d-block which has a completely consistent set of electron configurations. Silver is an extremely soft, ductile and malleable transition metal, though it is slightly less malleable than gold.
OCCURANCE AND PRODUCTION
The abundance of silver in the Earth’s crust is 0.08 parts per million, almost exactly the same as that of mercury. It mostly occurs in sulfide ores, especially acanthite and argentite. The principal sources of silver are the ores of copper, copper-nickel, lead, and lead-zinc. Silver is usually found in nature combined with other metals, or in minerals that contain silver compounds, generally in the form of sulfidessuch as galena (lead sulfide) or cerussite (lead carbonate). So the primary production of silver requires the smelting and then cupellation of argentiferous lead ores, a historically important process. Lead melts at 327 °C, lead oxide at 888 °C and silver melts at 960 °C. To separate the silver, the alloy is melted again at the high temperature of 960 °C to 1000 °C in an oxidizing environment. The lead oxidises to lead monoxide, then known as litharge, which captures the oxygen from the other metals present. The liquid lead oxide is removed or absorbed by capillary action into the hearth linings
REFINING
This facility do not exist in the Nigeria presently thus it presents a fantastic investment opportunity for a savvy investor to take advantage of, such investor will refine the copper ore, lead ore and other silver bearing minerals ores. Depending on the ores refined he will obtain silver and then the other minerals contained in the ore. He will sell the concentrate to either local or international buyers. This fetches more return on investment even though the investment is huge.
APPLICATION
Jewellery and silverware
The major use of silver besides coinage throughout most of history was in the manufacture of jewellery and other general-use items, and this continues to be a major use today. Examples include table silver for cutlery, for which silver is highly suited due to its antibacterial properties. Western concert flutes are usually plated with or made out of sterling silver. in fact, most silverware is only silver-plated rather than made out of pure silver; the silver is normally put in place by electroplating. Silver-plated glass (as opposed to metal) is used for mirrors, vacuum flasks, and Christmas tree decorations
Medicine
In medicine, silver is incorporated into wound dressings and used as an antibiotic coating in medical devices. Wound dressings containing silver sulfadiazine or silver nanomaterials are used to treat external infections. Silver is also used in some medical applications, such as urinary catheters and in endotracheal breathing tubes. The silver ion is bioactive and in sufficient concentration readily kills bacteria in vitro. They interfere with enzymes in the bacteria that transport nutrients, form structures, synthesise cell walls, and bond with the bacteria’s genetic material. Microbes cannot develop resistance to silver as they can to antibiotics, and hence silver and silver nanoparticles are used as an antimicrobial in a variety of industrial, healthcare, and domestic application: for example, infusing clothing with nano-silver particles thus allows them to stay odour-less for longer.
Electronics
Silver is very important in electronics for conductors and electrodes on account of its high electrical conductivity even when tarnished. Bulk silver and silver foils were used to make vacuum tubes, and continue to be used today in the manufacture of semiconductor devices, circuits, and their components. For example, silver is used in high quality connectors for RF, VHF, and higher frequencies, particularly in tuned circuits such as cavity filters where conductors cannot be scaled by more than 6%. Printed circuits and RFID antennas are made with silver paints, powdered silver and its alloys are used in paste preparations for conductor layers and electrodes, ceramic capacitors, and other ceramic components
Brazing alloys
Silver-containing brazing alloys are used for brazing metallic materials, mostly cobalt, nickel, and copper-based alloys, tool steels, and precious metals. The basic components are silver and copper, with other elements selected according to the specific application desired: examples include zinc, tin, cadmium, palladium, manganese, and phosphorus. Silver provides increased workability and corrosion resistance during usage.
Chemical equipment
Silver is useful in the manufacture of chemical equipment on account of its low chemical reactivity, high thermal conductivity, and being easily workable. Silver crucibles (alloyed with 0.15% nickel to avoid recrystallisation of the metal at red heat) are used for carrying out alkaline fusion. Copper and silver are also used when doing chemistry with fluorine. Equipment made to work at high temperatures is often silver-plated. Silver and its alloys with gold are used as wire or ring seals for oxygen compressors and vacuum equipment.
Catalysis
Silver metal is a good catalyst for oxidation reactions; in fact it is somewhat too good for most purposes, as finely divided silver tends to result in complete oxidation of organic substances to carbon dioxide and water, and hence coarser-grained silver tends to be used instead.
Nanoparticles
Nano-silver particles, between 10 and 100 nanometers in size, are used in many applications. They are used in conductive inks for printed electronics, and have a much lower melting point than larger silver particles of micrometre size. They are also used medicinally in anti-bacterial and antifungals in much the same way as larger silver particles.
REQUIREMENT AND CONDITIONS FOR MINING 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 need experts to guide you to avoid fatal mistakes that will erode your capital.
Other things BAN can do for you include but are not limited to helping you to determine the grade of mineral at 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 silver is where you will make a kill. BAN will help you to set up a refinery in Nigeria. The capital outlay for this is huge but even so much more is the return on investment.