Legit.ng News Details about the main COMPONENTS OF NIGERIAN MINING INDUSTRY in 2019. Learn everything about this industry and identify its most important and different components that each big company in Nigeria is familiar with.
Mining in Nigeria. As you see, Nigeria is rich in various minerals. Ancient crystalline rocks contain nonferrous and rare metal ores: tin, niobium, molybdenum, zirconium, tantalum, uranium, gold and silver. In sedimentary rocks, there are deposits of coal, oil, gas, limestone etc. Main wealth of the country is oil.
The importance of mineral resources to the Nigeria economy is great. For example, oil constitutes 9% of Nigeria GDP in 2018 by africacheck . The major minerals of Nigeria are crude oil, natural gas, coal, iron ore, tin ores, and rare metals such as niobium, tantalum as well as non metallic building materials.
Legit.ng News PROBLEMS of MINING in Nigeria. The growth of the mining industry of the Nigerian market will create more jobs, however, lots of companies currently involved in mining projects in the country are confronting difficulties.
About 44 mineral occurrences have been reported in Nigeria. A number of these minerals are estimated to exist in commercial quantities, including Nickel, Bitumen, Iron Ore and Coal. In the 1970s, Nigeria was a recognized global mining destination, with significant production of coal, tin and columbite.