The federal government has confirmed the discovery of the new mineral resource and likely replacement for oil, the Nigerian nickel.
News of the discovery went viral on Monday, August 29 and now the federal government has now admitted that the country has indeed discovered deposits of the best quality nickel the world has ever seen.
But many people are still in the dark about what makes this new mineral resource a big money-maker for Nigeria. Analysts have compiled 9 facts every citizen should know about the Nigerian nickel and the massive possibilities mining it holds for the country’s struggling economy.
1. Appearance
In physical appearance, the nickel is a silvery- white metal that has golden hints. Also, while it is metal and expectedly hard, it is also relatively easy to break.
2. Quality Nigeria’s nickel is the purest the world has seen so far.
It has a purity of around 90 per cent, says the Australian mining company that discovered it.
3. Location
The Nigerian nickel deposit is found in Dangoma, a small farming town about 160km northeast located in the North-West state of Kaduna.
4. Largest producers
The US Geological Survey says that the Philippines, Indonesia, Russia, Canada and Australia are the world’s largest producers of nickel.
5. African producers
In Africa, Botswana, Madagascar and South Africa are the only other African countries that produce the nickel in large quantities. Between them, they boast reserves of 490,000, 1.6million and 3.7million metric tons of nickel.
6. Nickels in alloys
The nickel is quite valuable in modern times and is used for alloys because it does not rust. This is why about 60% of world production is used in nickel-steels (particularly stainless steel).
7. Many uses of nickel
Nickel is also an essential part of several rechargeable battery systems used in electronics, power tools, transport and emergency power supply.
Nickel-metal hydride (NiMH) is very important today. Across the world, nickel-containing materials play a major role in everyday lives like food preparation equipment, mobile phones, medical equipment, transport, buildings, power generation and many more.
8. Growing market for nickel
One most interesting fact about the new discovery is that nickel use is growing at about 4% each year while use of nickel- containing stainless steel is growing at about 6%, so says the Nickel Institute.
9. Lifespan of nickel
products Most nickel-containing products have long lives with the average lifespan put at around 25-35 years while some last much longer and besides, nickel products are also recyclable for future use and re-use. In fact, nickel is one of the most recycled materials globally.
Like Us on Facebook!
0 comments:
Post a Comment