Nigeria is heavily endowed with different variety of mineral resources creating a basket of yet undeveloped reserves across the country ranging from Tin, Columbite, coal, Barite, Bentonite, Gold, Bitumen, Limestone, Iron ore, Tantalite, Granite, Gem stones, Lead, Silver, Lithium, Gypsum, Marble etc.
The relative underdevelopment of the Mining Sector creates an ample opportunity for foreign and domestic investment.
Mining is a growing part of the Chicason Group. Through its member company, RIMCO Mining Company Limited, The Group holds 34 barite mining concessions across Nigeria. RIMCO is also seeking opportunities in heavy minerals, precious metals and gemstones throughout West African.
The mining of minerals in Nigeria accounts for only 0.3% of its GDP.
The domestic mining industry is underdeveloped.
Rights to ownership of mineral resources is held by the Federal government of Nigeria, which grants titles to organizations to explore, mine, and sell mineral resources.
Coal was discovered in Enugu, Nigeria in 1909.
Iron ore are found in Kogi, Enugu, Niger, Zamfara and Kaduna State.
Prior to the discovery of oil in 1956, Nigeria was a major producer of Tin, Coal and Columbite.