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As far back as 2009, a study showed that there was a large gap in the supply of granite as the demand was so high, about 25.1 million tons was demanded but suppliers fell short and could only provide 17.8 million of the demand, leaving a gap of 7.3 million tons. Despite this gap, the granite mining industry still caps at 45 billion naira annually.
FEASIBILITY ANALYSIS FOR QUARRY PLANT IN NIGERIA?
Surprisingly, the mining industry in Nigeria only accounts for 0.33% of the country’s Gross Domestic Profit, this figure is a reflection of the underdevelopment of the sector as some other minerals, that can be acquired on home soil, are still being imported (minerals like salt, lead and iron ore). The rights to mine for resources are held solely by the government and they grant it to organizations to mine and deal in the sales of mineral resources. Over 30 mineral resource deposits have been identified and sited in the country, the most mined and readily accessible of the mineral resources in Nigeria is granite.
Granite is an igneous rock formed between cracks and layers of other rocks, it is coarsely grained. This mineral has made a name for itself as one of the most important materials needed in building and construction making the demand so high and relative to its accessibility as it needs no further processing asides from crushing into needed sizes before it can be made use of.
2.0. Recent Reports
The gap in supply will continue to expand as forecasted by the Development Company of Netherlands. The country falls short of providing housing units for a population of about 140 million people, its produces just 17 million housing units, this is why the country experiences a fast rate in the growth and expansion of construction activities which is almost ten times more than the rate at which mineral resources production companies, granite especially, are growing or expanding.
In addition, asides from the increasing rate at which individuals and companies are seeking infrastructures, infrastructural development particularly with the Government is expected to further expand demand for granite aggregates. If the Government awards a construction and expansion project to contractors this will offer the immediate market opportunity for investing in the quarry/mineral mining industry.
3.0. Quarry Plant
The quarry will process rocks into granite aggregates including stones and sand dust. The stones output will be in a variety of sizes from ¾ inch to less than ½ inch (stones) and are rich in quartz and K-feldspar, all of which are standard sizes in the construction industry. The capacity of the proposed plant is one hundred to one hundred and twenty (100 – 120) tons per hour and comprises equipment and heavy machinery such as;
- Jaw Crusher
- Vibrating Feeder
- Cone Crusher
- Vibrating Screens
- Wheel loader
- Wagon drill
- Air compressor
- Dumper truck
- Power generator
The plant would operate at eighty-ﬁve percent (85%) capacity of the installed plant working one shift of seven (7) hours per day working for three hundred (300) day per annum in the ﬁrst to ﬁfth year of operations and producing one hundred and ninety-eight (198,000) tons annually.
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