The local competitors with existing quarries appear to be inefficiently managed with many offering land for operation of a quarry. With the market trend leaning towards solid mineral, this appears to be a good time to enter the market and Nsan Village may have an advantage with the site location, equipment purchase in process and experienced management staff to engage operations and ramp production.
Major Local Competitors
Major competition is small scale mining, government and investors purchasing exclusive rights to carry out mining operation in the title area. Normally a five year least period is applicable and renewable for an additional period of 5 years and in some cases the mining lease may be issued for 10 - 25 year increments. Quarry leasing
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• Establish Employment Wages that respect Government Standards.
• Ensuring workers are treated fairly and with respect.
• Upholding Proper Standards of Labor Practices.
• Providing Management opportunities for women and equal treatment.
• Provide job growth in Nigeria causing a reduction in the crime rate.
• Working only with Plant, Machinery and Raw Materials Suppliers that are Environmentally responsible.
Benefits to the Economy:
• Create positive attraction from foreign exchange since the Loan Process will be conducted in US Dollars.
• Reduce pressure placed by the Foreign Exchange Market on Nigerian Economy through the Profits of the quarry mining and the production of 400 ton a day.
• Reduce gap of balance of payment between Nigeria and the United States. Support growth and development of proficient Waste Processing Industry by working with local communities to improve production.
• Create professional and trained personnel in the solid mineral industry and possibly provide to exporters an experienced labor force that can be applied in the industry of other Countries.
Benefits to the
Niger has few natural resources and even less arable land it needs help from a lot of countries. Niger receives most of their imports from France; however, they do get much needed help from donations as sixty-four percent of Nigerians are in poverty. For example, used clothing is a big import they receive, along with medicines. With lots of diseases and one doctor for every 41,500 patients medicine is a coveted object. Other goods imported to Niger are rolled tobacco, radioactive chemicals, and petroleum products. Niger is a uranium rich country. Uranium is one of the heaviest natural occurring metal in the world. It is 18.7 times more dense than water. It is energy filled which is the reason why they use it in nuclear bombs. They also export cow peas and onions.
Like most eastern countries that rely on one source of income Nigeria has had major
Objectives • To evaluate the difficulty of mining and reclamation To calculate costs, expenses, income, and profit from a hands-on mining exercise. • To evaluate the effectiveness of reclamation and its added costs to mining. To describe the increasing rarity of some non-renewable mineral resources. Introduction Minerals play an important role in our day-to-day life, but we often do not contemplate how the minerals are obtained. Minerals are scattered all over the world, just like any other resource.
International investing is something that many investors find that they can benefit from for many reasons. Two of the main reasons why investors choose to invest in foreign markets are growth and diversification. Growth allows investors the potential to take advantage of new opportunities in foreign emerging markets. International markets can potentially offer opportunities that might not be available in the United States. Diversification allows investors to spread out their risk to different markets and foreign companies other than those just in the United States allowing them to potentially create larger returns on their investment as well as reducing risks. (U.S. Securities and Exchange Commission, 2012) While investing internationally can be a very lucrative and rewarding decision, there are also extra risks involved with investing internationally. One of the main risks that international investors encounter is foreign exchange risk also known as currency risk. Currency risk is a financial risk that is created by contact with unforeseen changes in the exchange rate between two currencies. These changes can cause unpredictable gains or losses when profits from investments are converted from a foreign currency to the United Stated dollar. There are precautions that can be taken by investors to potentially lower their risk of currency value fluctuations and other risk factors that are present in international investing. (Gibley, 2012)
total value of the imports of the country. It benefits Nigeria’s oil, natural gas, coal,
Some other cons and challenges of doing business in Nigeria that also affects this group are; lack of infrastructure, poor power supply, inadequate security, inconsistent government policies, transportation challenges, inability to access funds and lack of government support.
The jewelry industry is always in need of gold. In the past years, the Western mine production cannot meet the gold demand of jewelry industry. To compensate with the lack of gold supply, jewelry sectors tried to make do with reclaimed jewelry, reserves and other industrial scrap.
The largest petroleum-producing nation in Africa is Nigeria. The petroleum company is the main contributing factor of the GDP in the West African nation, which is also the continents, most noticeable and populous reserves. Since Nigeria was under British control it has suffered socio-economic and political adversities for decades. Corrupt domestic militias and complicity of multinational corporations have rid the nation of its natural resources. The same corporations that are ridding the land and exploring the resources have hypocritically identified Nigeria as a major concern with regard to human rights and environmental degradation. The petroleum business in Nigeria dynamically impacts its economy so much that “oil and gas exports accounted for more than 98% of export earnings and about 83% of federal government revenue, as well as generating more than 40% of its GDP.” Just to be reminiscent on this fact, the petroleum business accounts for almost the entire exporting business of a country so it raises the question of, where is the income going and how is it bring redistributed?
...ld help improve the economy of the nation. The pocketing of profits by corrupt government officials shows characteristics of patrimonialism, which not only hinders the economy because these profits are the sole source of revenue for the nation, but also harms the democratic stability of the nation and can to some extent cause the regime changes of the nation. The civic conflicts of the nation are not handled by the government and not only do these conflicts drain revenue from the government, but shows the lack of mobilization in the government, possibly due to a lack of taxation, due to the resource curse. These claims show that the resource curse has affected the government and economy of Nigeria greatly as it leads to ineffective and corrupt government with a hindered chance of democratization, with civic conflict that cannot be controlled by the civic government.
This paper will discuss the Oil conflict that is occurring in Nigeria. Discussed will be the types of power that the two feuding parties are using and whether their strategies have been effective as well as the influence they have had on the conflict. The contrasting cultural differences and similarities will be discussed as well. The conflict in Nigeria has turned deadly and a successful communication environment must be developed in order to restore peace to the region.
Mining is the process or industry of obtaining minerals from the earth. Topics in this paper I’ll be specifically discussing are pros and cons of mining, structures of a mine, mining in general, California gold rush, diamonds in Africa, and comparison of diamond and gold mines.
The indirect impact of the mining industry has been huge in terms of funding for things like skill development through education and training, there is also provision made for social services in the mines (e.g. health care for the employees of the mines and their families, housing, school etc.) and the contribution the national economy.
The foreign exchange market is one of important mechanism in the international business because foreign exchange is an intermediary for all nations in term of the growth of the economy. There are many functions of foreign exchange market in the global economy. In the international business, it uses the foreign exchange markets in four ways. First, the pay...
(FIX) Living in the world today, as a global society, we have become increasingly connected and continue to do so with each passing year. Individuals across the globe find it has become significantly easier to transport goods/services from country to country.