Tungsten Ore (10%) Mining And Processing To Tungsten Ore (65%) In Nigeria, The Feasibility Report.

Tungsten, also known as wolfram, is a chemical element with symbol W and atomic number 74. The word tungsten comes from the Swedish language tungsten directly translatable to heavy stone.

Tungsten is a greyish-white lustrous metal, which is a solid at room temperature. Tungsten has the highest melting point and lowest vapor pressure of all metals, and at temperatures over 1650°C has the highest tensile strength. It has excellent corrosion resistance and is attacked only slightly by most mineral acids.

Tungsten (W) is a metal with a wide range of uses, the largest of which is as tungsten carbide in cemented carbides.   Cemented carbides (also called hardmetals) are wear-resistant materials used by the metalworking, mining, and construction industries.

Tungsten metal wires, electrodes, and/or contacts are used in lighting, electronic, electrical, heating, and welding applications.  Tungsten is also used to make heavy metal alloys for armaments, heat sinks, and high-density applications, such as weights and counterweights; superalloys for turbine blades; tool steels; and wear-resistant alloy parts and coatings.

Tungsten composites are used as a substitute for lead in bullets and shot.  Tungsten chemical compounds are used in catalysts, inorganic pigments, and high-temperature lubricants.

Global tungsten demand has increased on average by 2.7% per annum since 2008, although estimates suggests that this will slow to 2.6% per annum in the years to 2018 as its direct use in lighting applications diminishes.

Representing 12% of total demand in 2013, tungsten used in lighting applications is forecast to decline by around 5% per annum in the years to 2018.  The drop-off in demand is caused by the replacement of incandescent bulbs by fluorescent and LED bulbs in both industrial and domestic applications.  On a positive note, however, these new lighting products require greater volumes of refractory tungsten alloys indirectly in their manufacture, boosting demand in the alloy sector.

Tungsten consumption from other electronic and electrical applications, including electrical contacts, electron emitters and lead-in wires, is forecast to grow at 5.4% per annum through to 2018, more than double the overall trend.

The resistance of tungsten to wear and corrosion and its ability to withstand arcing make it a suitable metal for use in contacts and voltage regulators.  Demand from these applications however is minor in terms of volume, meaning by 2018 their share of demand would only be two percent (2%).

This report seeks to examine the financial viability or otherwise of mining tungsten ore ten percent (10%) and processing same into tungsten ore sixty-five percent (65%). Processing and separation of the tungsten would be done in any of the processing plant stated in the body of the report.

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 Project Implentation Schedule 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 Profit and Loss Analysis 5.7 Cashflow Analysis 5.8 Viability Analysis 6.0 Business Risk and Mitigation Factor 6.1 Business Risks 6.2 SWOT Analysis

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