Barite Ore Mining And Milling In Nigeria, The Feasibility Report.

Barite or baryte is a mineral which mainly contains sixty-five point seven percent (65.7%) barium oxide and thirty-four point three percent (34.3%) sulfate in its pure form. Sometimes natural barite also consists of trace amount of strontium.

It is an industrial mineral with high density, low solubility, high brightness & whiteness, chemical inertness, softness, and lesser cost. The most significant feature of barite is its relatively high density of 4.5g/cm3 making it commercially important for industrial, medical, and production.

Main applications of this mineral include filler in paint & plastics, source of barium, production of lithopone, absorber of harmful rays, flux during glass manufacture adding brilliance & clarity, and more.

In the global barite market, the rise in demand from paints, automotive, plastics and oil & gas industries is expected majorly drive the market.

Nigeria, the sixth largest exporter of crude oil and having the seventh largest known deposit of natural gas in the world is no doubt a favorable investment destination for investors seeking investment opportunities in the oil and gas industry on the African continent.

Nigeria presently exports about two million (2,000,000) barrels of crude oil per day and about thirty-four billion, nine hundred and seventy million (34,970,000,000) cubic meters of natural gas per day mainly for the export market.

However, activities in the sector have been largely dominated by foreign companies/investors thereby depriving the country and economy of the much needed development by way of capital flight. In order to reverse this trend after over thirty five (35) years of hydrocarbon exploration and production in the country, the federal government of Nigeria recently enacted the Nigeria oil and gas industry content development Act meant to encourage more indigenous participation in the sector.

Under these Act, services like general banking, life insurance, pension fund, securities brokerage and fund management services are required to have one hundred percent (100%) local content.

This requirement also extends to the supply of drilling mud chemicals, field development plan, marine moving services, seismic data acquisition for 2D and 3D, waste disposal /drainage services and procurement of steel pipes and plates.

The Act also encourages partnership with companies with the right expertise to partner with Nigerian companies to bring to fusion projects that local manpower might not be able to meet at the current time with the long term aim of local company acquiring such technology.

This report seeks to examine the financial viability or otherwise of establishing barite ore mining and milling plant in Nigeria.

Table of Contents

EXECUTIVE SUMMARY 1. Business Overview 1.1 Description of the Business 1.2 Incentives / Government Policy 1.3 How to Obtain a Mining Lease in Nigeria 1.4 Occurrence and Distribution of the mineral in Nigeria 1.4 Critical Success Factor of the Business 1.5 Description of the Business Industry 1.6 Contribution to Local and National Economy 2. Marketing Plan 2.1 Description of product 2.2 Location 2.3 The Opportunity 2.4 Pricing Strategy 2.5 Target Market 2.6 Distribution and Delivery Strategy 2.7 Promotional Strategy 2.8 Competition 3. Technical Analysis 3.1 Description of the Location 3.2 Raw Materials 3.3 Production Technology / Equipment 3.4 Production Process 3.5 Production Cost 3.6 Stock Control Process 3.7 Pre-Operating activities and expenses 3.7.1 Operating Activities and Expenses 3.8 Milestones 4.0 Organizational and Management Plan 4.1 Ownership of the business 4.2 Profile of the promoters 4.3 Key Management Staff 4.3.1 Strategic Business Units 4.3.2 Management Support Units 4.4 Details of salary schedule 5. Financial Plan 5.1 Financial Assumption 5.2 Start up Capital Estimation 5.3 Source of Capital 5.4 Security of Loan 5.5 Loan Repayment Plan 5.6 Financial Projections 6.0 Business Risk and Mitigation Factor 6.1 Business Risks 6.2 SWOT Analysis

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