How to Start Gold Mining Business

Gold Mining Business: Let’s discuss, How to Start Gold Mining Business in Nigeria.

The value of gold keeps rising even while faced with economic recession.

Numerous people and companies are interested in beginning their own gold mining business.

Because of its continued prevalence.

BusinessHAB partners with over 1000+ experts from a wide range of fields to ensure our content is accurate and based on well-established research and testimony. Content Managers conduct interviews and work closely with each expert to review information, answer reader questions, and add credible advice. Learn more about our editorial process and why millions of readers trust BusinessHAB. Do You Have any information to share with us? Do well to contact us on Email below. You can request publication of your article for publication by sending it to us via our Email below.

Read also:11 Tips to Promote Creative Business Online in Nigeria

Gold Mining Business

This is more eminent in countries where there are gold to mine.

Businessmen and women are urged to begin gold mining business.

Due to the way that it is considerably cheaper to produce.

And they will acquire money once they’ve sell it.

Some think that its easier investing in gold mining stocks and companies.

See also: 14 Tips to Open Public Speaking School in Nigeria

Gold Mining Business

Much the same as other types of businesses.

Gold mining investment opportunities are honestly dangerous business to establish.

Despite the fact that the income is high.

Many are as yet far fetched of opening this sort of business.

Since there’s a huge probability that it won’t succeed.

This is a good reason why it is important to give yourself time to consider it.

See also:Top 17 Bread Production Innovation Tips in Nigeria

Gold Mining Business

Before deciding to have your own particular gold mining business

Since this business isn’t one you simply hope into at any time.

When searching for how to get into the gold mining business.

It is necessary that you check if it is possible to establish it in your nation.

The greater part of the large companies you see today doing this sort of business.

Choose to mine in other countries where there’s gold available.

Along these lines, on the off chance that you need to have your own gold mining company.

You need to do your researches appropriately.

See also: 10 Reasons to Start Tutor Doctor Business in Nigeria

Gold Mining Business

Gold prospectors who need to begin a gold mine.

Have choices to make when beginning to create a mining operation.

Indeed, we were made to understand that besides renting a gold mine lease.

Or search for gold on open lands, a miner can seize land and begin a gold mine on undeclared land.

Gold mining operations range from modest to enormous.

Definitely, area and size of the operation will determine how a miner will begin a gold mine.

Read also: 18 Tips to Open Bagel Business Center in Nigeria

Gold Mining Prospects and Opportunities in Nigeria

Currently there are two gold mining companies in Nigeria.

Segilola Nigeria Limited has a license to mine gold in Osun State.

And Geotechniques Nigeria Limited has a license to mine gold in Kebbi State.

See also:Top 50 Fresh Jobs for Agriculturist in Nigeria

Gold Mining Business

Five other companies are mining for tin, press ore, coal, lead, and zinc.

Deposits of gold have been found in the northern piece of Nigeria.

The areas where these deposits are discovered include Maru, Tsohon, Bin Yauri, and Iperindo.

Gold Mining Business

See also:5 Tips to Become the Most Popular Artiste in Nigeria

Gold Mining History in Nigeria

Mining for gold in these areas began in 1913. By the 1930’s, however, mining began to abate.

When World War II began, gold production was nil.

Imperial companies left the mines, so gold extraction ceased.

There was a resurgence of interest to mine again in the 1960’s.

Yet the Nigerian Civil War thwarted those efforts.

See also: 7 Tips to Start Grass-Cutter Business in Nigeria

Then amid the 1980’s, the search for gold resumed by the Nigerian Mining Corporation (NMC).

The NMC was not successful to some extent because of poor funding of the venture.

Mining in general was teeming with problems because of government impassivity.

This indifference was due to government concentrate on the discovery of oil in 1956.

Oil remains the most valuable ware in Nigeria today.

However, in 2015, the government issued gold mining licenses to the two companies mentioned above.

Read also:30 Tips to Succeed in Painting Business in Nigeria

Modern Gold Mining Hazards

In 2008, traditional farmers began little scale gold mining near Bagega.

When gold prices skyrocketed amid this time due to the Great Recession.

Mining for the farmers became lucrative.

People from other villages converged on Bagega to mine.

Read also:16 Best Diaper Bags for Business in Nigeria

Gold Mining Business

Even when just little particles of gold were recovered.

Despite everything it paid well for these little scale miners.

The mines in this area contained lead which is not commonplace in most gold mining areas.

Exposure to lead can cause learning and behavior problems or even death.

Notwithstanding being exposed to lead, these distinctive miners used mercury to extract gold particles.

Mercury has its own particular risky properties.

See also: 35 Tips to Start Online Film Production Business in Nigeria

Gold Mining Business

It can cause numerous medical problems that can likewise lead to death.

This, unfortunately, is the thing that happened to these former farmers and their children.

The children, especially, suffered.

Indeed, over 460 children died from lead exposure and numerous more were injured.

Lead harming causes children to suffer from significantly more health issues than grown-ups.

See also:18 Tips to Start Imported Food Selling Business in Nigeria

Neurological problems from the lead left some of the children that survived with blindness and loss of motion.

The government allocated assets to international companies specializing in environmental clean-up.

One company shipped in thousands of cubic meters of clean soil.

Read also: Top 8 Solar Repairs/Installation Business tips in Nigeria

Gold Mining Business

And discovered that the existing soil had very nearly 100 times the rate of lead considered to be safe.

Yet, little scale gold mining by former farmers still goes on despite the deaths of such a large number of children.

These farmers turned to mining because of several years of unusual precipitation.

Which severely hurt their livelihoods. Mining for them is the main alternative.

 See also:15 Tips to Start Hampers Business in Nigeria

Steps to Gold Mining Business in Nigeria

1. Site Survey

Make a survey of the site with a shovel and skillet.

It is necessary that you record the concentrations of actually/naturally earthen gold in the gold ore on the claim.

See also:Top 34 Lucrative Solar Business Opportunities in Nigeria

2. Burrow/Prospect the Site

You are to burrow where exposed bedrock is on the claim.

And where waterways collect gold in the beds of the river.

Or stream around the inside bend of a corner in the water.

Prospecting accurately will increase the measure of gold you pull from the claim per hour of work.

See also:26 Tips to Open Social Services Consultancy Business in Nigeria

3. Set up Gold Mining Equipment

You are to set up mining equipment that compliments the geography of the area.

In spite of the fact that water is an important feature of numerous gold mines.

Some experts said it is not needed for separating the gold from the ore.

Necessary things as sluice boxes and shakers can keep running by either water or air.

You simply develop the correct mine for your site.

See also:18 Tips to Become International Registered Nurse in Nigeria

4. Accommodation and Power Supply

Ensure you provide living quarters for the miners and power the housing with a generator that can power the electrical mining equipment too.

You ought to realize that the larger the gold mine the more power, equipment and housing you will need.

On the off chance that you can, ensure you separate the living quarters from the mill site.

Why? In order to abstain from sullying the water supply with human byproducts.

Read also:7 Ways to Build Diapers Marketing Business in Nigeria

5. Begin Gold Excavation

Excavate gold ore from the most productive testing sites on the claim and collect the ore near the mining equipment.

When enough ore has been stored to run a complete move of mining operations you can begin to separate the gold from the ore and make money with a gold mine.

Read on:Top 8 Marketing Plan for Retail Food Product in Nigeria

6. Storage and Packaging

You ought to store pure gold and very concentrated gold ore in separate containers for further processing.

Really, the processing of gold is the most time expending undertaking; eliminating all the debris from the gold can be better managed at a later time.

You ought to process the ore until all that is left is heavy dark sand and gold.

See also: 16 Tips to Open Volunteer Nursing Home Business in Nigeria

Then store it for cleaning at a later time..

Taking everything into account, you ought to note that you may take some beating from stronger competitors.

Truth be told, you may make a business mistake.

Or even face intricate gold business challenges like a change in government strategy.

Yet, they, don’t give up. Remain solid!

If you need a complete business plan, please let us know.

Or, you want us to help you set up this business, kindly contact us. Otherwise, Please check out these other business ideas you can do 

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like