Post by Trade Forum on Nov 18, 2022 14:14:09 GMT 1
Barite: Nigeria Launches Locally-Made Barite To Cut Importation And Promote Local Content
The Nigerian government through the Ministry of Mines and Steel Development (MMSD) has launched a made-in-Nigeria barite.
The event, which according to the organizers was geared towards the promotion of local content to boost the economy for a corresponding increase in revenue, took place in Port-Harcourt recently.
Baryte, barite or barytes is a mineral consisting of barium sulfate. Baryte is generally white or colorless, and is the main source of the element barium. The baryte group consists of baryte, celestine, anglesite, and anhydrite. Barite and celestite form a solid solution SO₄, according to Wikipedia.
“The benefits of the initiative include increased revenue through royalty payment, conservation of foreign exchange and local content promotion in line with Federal Government policy,” the government said.
The initiative according to them would not only put Nigeria on the radar of the global mining communities but would also save the country from the $300 billion expended annually on its importation, likewise creating employment opportunities for the teeming youth population.
Describing the launch as “a watershed moment,” the Minister of Mines and Steel Development, Olamilekan Adegbite, in his keynote address, said the benefits of the initiative include “accelerated development of the sector along the barite value chain, increased revenue through royalty payment, conservation of foreign exchange and local content promotion in line with Federal Government policy.”
Baryte:
Barite is one of the seven strategic minerals set to unlock the potentials of Nigeria’s solid minerals sector. The seven (7) strategic minerals are: Coal, Bitumen, Gold, Limestone, Lead-Zinc, and Barite.
It is a key material used in the oil and gas industry as a weighting agent to increase the density of drilling fluids, principally for oil and gas exploration in order to minimize the incidence of blowouts.
Ease of Doing Business in the sector:
On ease of doing business, Mr. Adegbite said “the Ministry is going to commission an open marketplace portal that will connect all stakeholders along the barite value chain to a hub that allows for easy coordination, stocking, effective costing and seamless sale of Barite, while MMSD would assume the role of coordinating the entire process”
The Minister of State for Petroleum Resources, Timipre Sylva was represented by the Executive Secretary at the Nigerian Content Development and Monitoring Board (NCDMB), Simbi Wabote.
He said the Board was engaging the Nigerian Society of Chemical Engineers to provide information on available reserves, in-country demand, existing production capacity, production demand for the African regional market and domestication of barite used in the oil and gas sector.
Where you can find barite in Nigeria:
Barite occurs in various locations within the Benue Trough. These include Adamawa, Benue, Cross River, Ebonyi, Gombe, Nasarawa, Plateau, and Taraba. But studies have shown that the major producing states are Benue, Cross River, Nasarawa, and Taraba. It is estimated that the country has a proven reserve of more than 20 million metric tonnes.
Despite its abundant availability in Nigeria, barite remains largely untapped and its underdevelopment has resulted in the loss of about N5 billion annually through importation of the mineral.
According to NEITI, in 2018, the seven strategic minerals contributed 49.7 percent to the total royalty generated in the year.
However, barite contributed a meager N33,000, representing 0.001 per cent of the total royalty.
In 2020, data by Statista shows that the global production of barite was estimated to be 7.5 million metric tons, down from 9.8 million metric tons in 2012. The global barite market is valued at $1.4 billion in 2019 and it is projected to reach $2.4 billion by 2027
China, with 40 percent of the world’s total output is said to be the leading barite producer while a report by the United States Geological Survey (USGS) indicates that the United States is the world’s leading barite consumer, with more than 90 per cent of the barite sold in the United States used as a weighting agent in fluids used in the drilling of oil and natural gas wells.
Types of Barytes (Barite) Deposits:
There are basically three major types of barite deposits, from which they can be produced in commercial quantities for industrial purposes. They are:
- Vein (hydrothermal deposits)
- Residual deposits and Stratiform
- Vein Deposits
These deposits are formed by the precipitation of preexisting fractures in hot barium-rich fluids, which become the new mineral materials filling the host rock.
Vein Deposits:
Vein barite deposits can be either small or large. Small-style deposits are found everywhere around the globe, but a small amount of it is worked on.
Residual deposits:
The formation of residual deposits comes as a result of the dissolution of the host rocks, which affects a large part of its constituents, hence becoming enriched by other elements.
The sizes and shapes of these deposits change quite often, however, can lengthen from one kilometer to another.
Stratiform Deposits:
Stratiform is regarded as the final class of hydrothermal deposits formed by the action of precipitation of barytes in the ocean base of sedimentary basins.
The distribution of the ore minerals in given strata occurs in a manner that seems more like that of the sedimentary rock particles.
Stratiform deposits are now the major source of baryte production in many locations throughout the world.
Exportation of Barite to other African countries and the rest of the world:
You may ask: What is the possibility of Nigeria exporting Barite to other African countries and the rest of the world?
Be rest assured that in the nearest future Nigeria will join the League of Nations producing and exporting Barite for foreign exchange. This was disclosed recently by the Minister in charge of Mines and Steel Development in Nigeria, Olamilekan Adegbite.
Stay with us for more on this and others.
Our company is one of the best companies in Agro-Export Business in Nigeria today. We train individuals and corporate organizations on how to do Export Business the right way; if you are interested, please contact the admin of this forum now for further details.
The event, which according to the organizers was geared towards the promotion of local content to boost the economy for a corresponding increase in revenue, took place in Port-Harcourt recently.
Baryte, barite or barytes is a mineral consisting of barium sulfate. Baryte is generally white or colorless, and is the main source of the element barium. The baryte group consists of baryte, celestine, anglesite, and anhydrite. Barite and celestite form a solid solution SO₄, according to Wikipedia.
“The benefits of the initiative include increased revenue through royalty payment, conservation of foreign exchange and local content promotion in line with Federal Government policy,” the government said.
The initiative according to them would not only put Nigeria on the radar of the global mining communities but would also save the country from the $300 billion expended annually on its importation, likewise creating employment opportunities for the teeming youth population.
Describing the launch as “a watershed moment,” the Minister of Mines and Steel Development, Olamilekan Adegbite, in his keynote address, said the benefits of the initiative include “accelerated development of the sector along the barite value chain, increased revenue through royalty payment, conservation of foreign exchange and local content promotion in line with Federal Government policy.”
Baryte:
Barite is one of the seven strategic minerals set to unlock the potentials of Nigeria’s solid minerals sector. The seven (7) strategic minerals are: Coal, Bitumen, Gold, Limestone, Lead-Zinc, and Barite.
It is a key material used in the oil and gas industry as a weighting agent to increase the density of drilling fluids, principally for oil and gas exploration in order to minimize the incidence of blowouts.
Ease of Doing Business in the sector:
On ease of doing business, Mr. Adegbite said “the Ministry is going to commission an open marketplace portal that will connect all stakeholders along the barite value chain to a hub that allows for easy coordination, stocking, effective costing and seamless sale of Barite, while MMSD would assume the role of coordinating the entire process”
The Minister of State for Petroleum Resources, Timipre Sylva was represented by the Executive Secretary at the Nigerian Content Development and Monitoring Board (NCDMB), Simbi Wabote.
He said the Board was engaging the Nigerian Society of Chemical Engineers to provide information on available reserves, in-country demand, existing production capacity, production demand for the African regional market and domestication of barite used in the oil and gas sector.
Where you can find barite in Nigeria:
Barite occurs in various locations within the Benue Trough. These include Adamawa, Benue, Cross River, Ebonyi, Gombe, Nasarawa, Plateau, and Taraba. But studies have shown that the major producing states are Benue, Cross River, Nasarawa, and Taraba. It is estimated that the country has a proven reserve of more than 20 million metric tonnes.
Despite its abundant availability in Nigeria, barite remains largely untapped and its underdevelopment has resulted in the loss of about N5 billion annually through importation of the mineral.
According to NEITI, in 2018, the seven strategic minerals contributed 49.7 percent to the total royalty generated in the year.
However, barite contributed a meager N33,000, representing 0.001 per cent of the total royalty.
In 2020, data by Statista shows that the global production of barite was estimated to be 7.5 million metric tons, down from 9.8 million metric tons in 2012. The global barite market is valued at $1.4 billion in 2019 and it is projected to reach $2.4 billion by 2027
China, with 40 percent of the world’s total output is said to be the leading barite producer while a report by the United States Geological Survey (USGS) indicates that the United States is the world’s leading barite consumer, with more than 90 per cent of the barite sold in the United States used as a weighting agent in fluids used in the drilling of oil and natural gas wells.
Types of Barytes (Barite) Deposits:
There are basically three major types of barite deposits, from which they can be produced in commercial quantities for industrial purposes. They are:
- Vein (hydrothermal deposits)
- Residual deposits and Stratiform
- Vein Deposits
These deposits are formed by the precipitation of preexisting fractures in hot barium-rich fluids, which become the new mineral materials filling the host rock.
Vein Deposits:
Vein barite deposits can be either small or large. Small-style deposits are found everywhere around the globe, but a small amount of it is worked on.
Residual deposits:
The formation of residual deposits comes as a result of the dissolution of the host rocks, which affects a large part of its constituents, hence becoming enriched by other elements.
The sizes and shapes of these deposits change quite often, however, can lengthen from one kilometer to another.
Stratiform Deposits:
Stratiform is regarded as the final class of hydrothermal deposits formed by the action of precipitation of barytes in the ocean base of sedimentary basins.
The distribution of the ore minerals in given strata occurs in a manner that seems more like that of the sedimentary rock particles.
Stratiform deposits are now the major source of baryte production in many locations throughout the world.
Exportation of Barite to other African countries and the rest of the world:
You may ask: What is the possibility of Nigeria exporting Barite to other African countries and the rest of the world?
Be rest assured that in the nearest future Nigeria will join the League of Nations producing and exporting Barite for foreign exchange. This was disclosed recently by the Minister in charge of Mines and Steel Development in Nigeria, Olamilekan Adegbite.
Stay with us for more on this and others.
Our company is one of the best companies in Agro-Export Business in Nigeria today. We train individuals and corporate organizations on how to do Export Business the right way; if you are interested, please contact the admin of this forum now for further details.
