Each component of Nigeria mining industry is extremely important and very expensive. When a company explores minerals and finally discovers a promising deposit, it still has to invest a lot of money into developing this area. Only after this, production can finally start and minerals can be processed and sold. Now lets talk in more details about each of the components of the Nigerian mining industry. 1.
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Our country has its own minerals. Their mining is not well developed within Nigeria, thus this industry only makes less than a percent of our Gross Domestic Product GDP.
Experts are sure that Nigeria can produce many minerals domestically. This includes iron ore and salt. But since the components of Nigerian mining industry are also undeveloped as the industry itself, we have to import these products.
Everyone knows that all mineral resources found in the country belong to our Federal government and are managed by the Ministry of Solid Minerals Development. Only the government has the prestigious right to grant these resource to various companies that can fulfill each component of Nigeria mining industry to produce and finally sell minerals.
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Components Of Nigerian Mining Industry. Mining in nigeria our country has its own minerals their mining is not well developed within nigeria thus this industry only makes less than a percent of our gross domestic product gdp experts are sure that nigeria can produce many minerals domestically this includes iron ore and salt.
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