Australian Firm’s Discovery Of Nickel In Nigeria Could Jump-start Economic Recovery

An Australian mining syndicate, reportedly headed by Hugh Morgan, a mining industry veteran, has discovered “world class and highly unusual” nickel deposits in Nigeria, according to The Australian newspaper.

“The discovery is unusual because the nickel is found in small balls up to 3mm in diameter of a high purity in shallow soils in what could be the surface expression of a much bigger hard-rock nickel field.

“The nickel balls, rumoured to grade better than 90 per cent nickel and thought to be a world first given their widespread distribution, offer the potential for early cash flow from a simple and low-cost screening operation to fund a full assessment of the find that has exploration circles buzzing,” the newspaper said.

The discovery is believed to have been made at a site close to Dangoma, in Kaduna State.

Neither Morgan nor the Nigerian government has commented about the reported discovery but it has long been an accepted fact that Nigeria is a country full of mineral resources, apart from vast stores of hydrocarbons in the Niger Delta and other areas yet to be discovered.

There are coal deposits, gold, lead, iron and other minerals in abundance in sites across the country.

Successive governments have tried to woo investors from overseas but Nigeria’s peculiar business environment, bottlenecks and perceptions of corruption have hindered much progress in that regard.

This time, Dr. Kayode Fayemi, minister of solid minerals, has reiterated that government would tap into the opportunities to give the economy a much-needed boost in the face of falling oil price, which has long been the mainstay of the country.