Gold Mining Procedures and How to Start Gold Mining Business in Nigeria.
Gold Mining Procedures in Nigeria… The value of gold keeps rising even with economic recession is most parts of the world. Countless individuals and firms have an interest in starting their own gold mining business due to its continuing relevance and value.This is especially so in countries where there is gold to mine.
How to Start Gold Mining Business in Nigeria
Business savvy persons are urged to start gold mining business due to the fact that it’s significantly cheaper to supply, and that they can acquire cash once they sell it. Some assume that gold mining is an easier investment than stocks and firms. Much like other categories of businesses,
gold mining investment opportunities are truly risky businesses to venture into. Despite the very fact that the financial gain is high, there’s an enormous chance that it won’t succeed. This is an honest reason why it’s vital to give yourself time to think about it before deciding to get your own gold mining business
Since this business isn’t one you just hop into at any time, when looking for the way to get into the gold mining business, It is necessary that you check if it is doable to determine especially in your country of residence.
The firms engaging in gold mining are usually massive firms. These firms mine in different countries wherever there’s gold accessible. Along the line, on the off likelihood that you set up your own gold mining business, this article would help put you through.
Gold prospectors mostly team up to carry out mining operations for many reasons. Indeed, most people tend to think all you need do is invade a piece of land and start a gold mine on the unclaimed land.
Gold mining operations vary from modest to huge. Deﬁnitely , space and size of the operation can confirm however a laborer can begin a gold mine.
In this article, we would focus on gold mining using a specific country as a case-in-study – Nigeria.
Nigerian Gold Mining Prospects and Opportunities.
There are two gold mining firms in Nigeria; Segilola Nigeria Limited which holds the license to mine gold in Osun State, and Geotechniques Nigeria Limited which has the license to mine gold in Kebbi State.
Gold in commercial quantities are found within the Northern parts of Nigeria like Maru, Tsohon, Bin Yauri, and Iperindo.
Gold Mining History in Nigeria.
Mining for gold in Nigeria began in 1913. During the 1930’s, mining began to cease. When the 2nd World War began, gold production ended.
Colonial firms left the mines, therefore gold mining ceased.
The interest in gold mining picked up again in the 1960’s but the Civil War derailed that interest. The Nigerian Mining Corporation (NMC) resumed mining for gold 2 decades later.
The NMC wasn’t thriving due to poor funding of the venture. Mining generally was swarming with issues due to government nonchalance. This indifference was because of government discovered oil in 1956 which was seemingly more profitable. Petroleum remains the most valuable commodity in Nigeria even today.
However, in 2015, the government issued gold mining licenses to the 2 aforementioned firms. In 2008, local farmers began gold mining on a very small scale close to Bagega.