importance of mineral resources

The materials which are obtained from the mine or extracted by digging the earth are known as a mineral. In other words, you can only mine the same node either 48 or 72 hours after you mine it, depending on the resource. A. Maddison (1991), for example, uses the variable of country´s area as a prerequisite for natural resource endowment. It is a popular belief that Nepal is rich in mineral resources. It is necessary to monitor permits for exploitation, represent potential exploitation fields for new investors and easily keep track of every mineral resource. An example of a country that can be considered to be rich in mineral resources is Nigeria. Resources are important for the development of any country. Everything we depend on is either made from minerals or relies on minerals for its production. There are very many deposits of Lead and Zinc in Nigeria, and the importance of these minerals can never be underestimated. Cement production is necessary as it helps in the building of social amenities across the nation. It’s considered to be one of the most precious minerals in the world. Minerals like iron ore, mica, copper, gypsum, bauxite, lead, etc are the non-renewable and exhaustible resources. March 12, 2018. The Mineral Resources Industry is an important strategic sector in the economy of Bulgaria. Going by the information released by Nigeria.gov.ng, there are approximately 160 trillion cubic meters of gas and 23 barrels of crude oil in Nigeria. Let’s start on a Monday morning. Geological information and knowledge about the assets are vital in order to use the mineral resources in a sustainable way. The Most Translated Website In The World, Top 5 Major Benefits to Hire A Professional Electrician, Easy Tool To Analyze Today’s Football Results, How To Link Your NIN To Glo, MTN, Airtel & 9mobile Network. Infrastructure—a railway through the Andes, for instance—is often the beneficiary of the extractive sector’s sudden growth; similar development has been seen in Asia as well. Importance of Mineral Resources in Nigeria. The coal produced in Nigeria does not have any harm to the environment and hence, is considered to be the best. Nigeria is also known to have several bitumen reserves, and these reserves have approximately 40 billion tons of bitumen. Economic contribution Minerals are the prime contributor to the economy for many countries. It can likewise be imported to earn the country foreign exchange. There is nothing as crucial as having mineral resources in a country. What is the major mineral resource in Nepal?Ans: Nepal has several mineral deposits. Is President Buhari Really The Problem of Nigeria, Or Nigerians Are Pointing Accusing Fingers In The Wrong Direction. Save my name, email, and website in this browser for the next time I comment. Other than producing cement, Gypsum can be used for other purposes, and hence, its extraction is essential. and export iron ore, granite, bauxite, titanium, manganese, etc. A rock is an aggregate of one or more minerals or mineraloids. A mineral is a pure inorganic substancethat occurs naturally in the earth’s crust. It is also a very precious metal, against which most countries in the world back up their economies by purchasing and keeping huge stores of this mineral in special vaults. 2. The consumption of natural resources have become a norm that leads to the destructive impact of human economic activities as well as regular, everyday life activities on their environment (McCormick 156). Did you find this post helpful? They can be found concentrated in a particular area or in a rock formation. Despite 20 years of research, there remains no robust, globally agreed upon method—or even problem statement—for assessing mineral resource inputs in life cycle impact assessment (LCIA). Mining leads to a massive habitat loss for a diversity of flora and fauna ranging from soil microorganisms to large mammals. Often, the worst effects of mining activities are observed after the mining process has ceased. The oil extracted in Nigeria is known to have high paraffin content and is low-sulfur. The department of mines was established to explore and exploit the mineral resources. Further, they provide better employment opportunities to many people in relation to the extraction, purification, transport of these minerals. This accelerates the industrial development. A knowledge-driven hub dedicated to promoting self reliance & entrepreneurship. Recycling, in which Austria is one of the world's leading countries, is an increasingly important factor. Important economic deposits of iron ore, gold and diamonds are known in Liberia and there is considerable potential for additional discoveries. The 2020 MEC Mineral Baby illustrates the important work of the mining industry to support our daily lives. We will be independent when industrialization occurs with the uses of mineral resources. Talk about the sources of government revenue in Nigeria, the extraction of crude oil contributes significantly to the Nigeria’s economy as crude oil creates employment and earns the country’s foreign exchange. Working for energy programme South Africa is richly endowed with mineral resources, and produces more than 30 metal and mineral products. presented by gowri v prabhu 1st msc evs 2. Necessary to conserve resources because: (i) Their irrational consumption and over utilisation have led to socio-economic and environmental problems. For these enormous quantities, it is of course important that resources are not only available in … The Importance of Environmental Management in Mining. According to proven oil and gas reserves that have been discovered, Nigeria has 23 billion barrels of crude oil and 160 trillion cubic meters of gas according to sources of the Nigerian Government. [SEE!] The responsible management of natural resources and ecosystems such as soils, plants, animals, water and air, and the services they provide, is central to the efforts of any society seeking to become more sustainable. are minerals for industries. MINERAL RESOURCES USES AND EXPLOITATION ENVIRONMENTAL EFFECTS OF EXTRACTING AND USING MINERAL RESOURCES CASE STUDIES 3. Mineral resource classification is the classification of mineral resources based on an increasing level of geological knowledge and confidence. We import graphite, mercury, cobalt etc. Beyond being fueling these processes, mining itself creates a lot of pollution. Natural resources are important because they contribute to the economy of the nation in which they exist. Mineral resources are the key material basis for socio-economic development. Mineral resources have been used for millennia and are a key to society’s development. 5. Is Mining Important? Industrial development:If the mineral resources can be extracted and utilized, mineral based industries can be established and expanded. Mineral resources in any form are gift from nature in the countries where they are found. It also saves tremendous Nigerian amounts of money they would incur if they were to import cement. They constitute the vital raw materials for many basic industries and are a major resource for development. Types of Mineral – (a) Metallic – Ferrous and Non Ferrous (b) Non-Metallic – limestone, nitrate, potash, mica, gypsum -> Minerals are an indispensable part of our lives. Coal extraction provides the energy needed to run industries in Nigeria and thus saving the country a considerable amount. These countries rich in mineral resources export them to make revenues to the governments. The respawn timer on most minerals is 48 or 72 hours. It is also one of the main activities generating foreign exchange and interaction between rural Mexico and the international community. Learn how your comment data is processed. Developed countries need to change from a high-waste throw away approach and developing countries need to insure that they do not adopt such an ap­proach. Reprocessing is important because we can use recycled products in many everyday situations. This is just one of thousands of products made from mineral resources. Various metals are produced with minerals. Updated August, 2020 The mining industry in the US directly employs over 400,000 people, with average annual salaries of $80,000(Bureau of Labor Statistics, U.S. Department of Labor as of 2016) Statistically, an average of 14 tonnes of minerals and rocks annually are required for every Austrian. Since mineral resources are a non-renewable resource, it is important for all countries to take a low-waste sustainable earth approach to dealing with them. Electricity to run the clock comes through Copper Wires. Contact us: [email protected]. The importance of mineral resources in Nigeria plays a vital role in its development both for the environment and its people.The reason why people should know their mineral resources in Nigeria is to be able to make use of them wisely and preserve them for future generation’s use.Because of this, let us take a look at Nigeria’s beautiful bounty! MRP supports data collection and research on a wide variety of non-fuel mineral resources that are important to the Nation’s economic and national security. The role of minerals in the life of humankind is enormous. Time to get up. South Africa’s total reserves remain some of the world’s most valuable, with an estimated worth of R20.3-trillion ($2.5-trillion). Mineral resources in Nigeria are huge! Other rocks can be defined by relative abundances of key (essential) minerals; a granite is defined by proportions of quartz, alkali feldspar, and plagioclase feldspar. The main mineral resources identified are as follows: Difference Between Gross Domestic Product (GDP) And Gross National Product (GNP), Computation or Measurement of National Income, Difficulties in Measurement of National Income, Meaning of Economic Development and Growth, Importance of Water Resource in Economic Development of Nepal, Potentiality of Hydro-Electricity and Situation of Water Resources in Nepal, Obstacles of Hydro-Electricity Development In Nepal, Importance And Current Situation of Forest Resource In Nepal, Importance of Mineral Resource In Economic Development of Nepal, Problems of Mineral Resource Development in Nepal, Environmental and Natural Resource Management For Sustainable Development, Role of Human Resource in Economic Development of Country, Current Situation of Population In Nepal [ Census 2068 ], Causes, Consequences and Control Measures of High Population Growth, Characteristics of Nepalese Agriculture and Its Importance, Problems and Remedial Measures of Agricultural Development in Nepal, Poverty – Characteristics, Causes, Alleviation, Importance and Problems of Cottage / Small-Scale Industries, Importance and Problems of Medium / Large Scale Industries, Importance and Prospects of Tourism Industry, Means of Transportation – Current Situation, Means of Communication – Current Situation, Public Finance and Government Expenditure, Singular and Plural Meaning of Statistics, Statistics: Primary and Secondary Sources of Data, Statistics: Methods of Primary Data Collection, Statistics: Precautions In The Use of Secondary Data, Statistics: Techniques/Methods of Data Collection, Frequency Polygon - Diagrammatic and Graphical Representation of Data, Differences Between Diagrams and Graphs : Statistics, Advantages of Diagrams and Graphs : Statistics, Histogram - Diagrammatic and Graphical Representation of Data, Difference between Microeconomics and Macroeconomics, Difference Between Positive and Normative Economics, Comparison Between Marshall’s and Robbin’s Definitions of Economics. Indigenous representation in the minerals sector has increased in the last decade, especially in the mining … Earth Science Week October 11-17, 2020 is Earth Science Week (ESW). The main areas where oil deposits are found in Nigeria include Cross River, Delta basin, Albia, Ondo, Imo, Rivers states, Akwa Ibom – one of the richest states in Nigeria, and many other areas. The Importance of Mineral Resources in a National-International Context Challenges for the United States China is #1 in terms of mineral-resource production. The Importance of Minerals. There are more than 41 M tons of Talc in this country, and the main areas where the reserves are included Ogun, Kogi, Niger, Osun, and many others. Few kinds of minerals can be found in areas which one cannot access easily at places such as Antarctica and the ocean bed of the Arctic. They also provide necessary supplies for humans to thrive. Mineral resources help to establish the new industries where skilled and unskilled people can get employment opportunity. -> Almost everything that we use, from the tiny pin to a towering building or a big ship are all made from minerals. Another mineral resource found in Nigeria is Gypsum. Of all countries in Africa, Nigeria is known to be the number one producer of crude oil. The role of mineral resource can be explained as follows: 1. Necessary to conserve resources because: (i) Their irrational consumption and over utilisation have led to socio-economic and environmental problems. An enormous amount of pollution is generated from the extraction and use of natural resources. The reserves in Nigeria contain approximately 5 M tons of lead and Zinc, and when extracted, these minerals can be used for local demands or exports. The Department of Mineral Resources aim to formulate and implement policy to ensure optimum use of the country's mineral resources. The countries with natural resources can be among the world’s developed nations only if they use their natural resources intelligently and effectively. We will be independent when industrialization occurs with the uses of mineral resources. Six o’clock Monday morning. Minerals are non-renewable resources, and, thus, more a country becomes industrially advanced the more rapidly it ex­hausts its own mineral deposits and is bound to import from other countries. Mineral respawn timers go active from the moment you mine the node. The importance of mineral resources can never be underestimated, considering how they impact the economy of a nation. Source of energy:There are various sources of energy like petrol, diesel, natural gas, etc. For example, fossil fuels are essential to generate energy, mineral resources are important for industrial development, etc. Every country wants to make use of its mineral resources in the best way possible – economically, but also environmentally. China has become a major mining investor in Africa, Australia and the countries of the former USSR. Petrol, diesel, iron, coal, etc. But the donut comes from the bakery, and the bakery needs Flour, which comes from a Flour Mill made of Steel and Concrete. Find out why you absolutely, positively, must have someone somewhere, who develops the resources you use every day. God has gifted Pakistan with a large number of natural resources. The technological process, the needs of the economy, and prices in the market depends on whether and when the rock/mineral becomes raw material. Their smart management is, therefore, highly important. salt, gypsum, clay, sand, phosphates). In an effort to achieve a standard set the classifications, representative bodies from Australia, Canada, South Africa, the USA and the UK reached a provisional agreement in 1997 on the definitions of each of the various mineral classifications. Natural resources are important because they contribute to the economy of the nation in which they exist. The discovery of mineral deposits provide employment to the large number of persons. The existence of mineral resource provides employment opportunity to the people. Finally something that’s not mineral. Increase in employment:The existence of mineral resource provides employment opportunity to the people. Importance of Mineral Resources in Nigeria Gold; Gold is the oldest currency in the world that is still in use. In this article, we are going to look at the various mineral resources found in Nigeria and its importance. We need small amounts of a wide variety of minerals. Interest in mineral resource development was renewed and new discoveries of minerals, such as iron ore, potash, copper, ... Minerals have had an important impact on the social and economic development of Canada, especially in terms of the importance of mineral exports to the Canadian economy. They also provide necessary supplies for humans to thrive. When considering the importance of mineral resources in a country, it would be unfair to leave out the core. For instance, the extraction of these minerals creates employment in a country and also earns a country’s foreign exchange. The exploitation of natural resources is the use of natural resources for economic growth, sometimes with a negative connotation of accompanying environmental degradation.It started to emerge on an industrial scale in the 19th century as the extraction and processing of raw materials (such as in mining, steam power, and machinery) developed much further than it had in preindustrial areas. Besides, they are the raw material for the manufacturing of many chemicals. The Importance of Minerals and Mining By Dr Kenneth J Reid Professor Emeritus, University of Minnesota Member, Board of Directors, SME Twin Cities Sub Section Rev 2 July 2012 . A mine will always impact the environment, but the question is to what degree? Share: Office of Science and Technology Policy. Resources are important for the development of any country. Several roads in Nigeria have benefited from the extraction of bitumen since it is one of the most needed materials in road construction. Copper comes from a Copper Mine. It has huge potential regarding mineral reserves, exploration and … With the growing importance of new technologies and the energy revolution, questions have arisen regarding the future availability of resources of metals and industrial minerals. 4. 3. The Natural Resources Canada's Lands and Minerals Sector is committed to promoting Indigenous participation in mineral exploration and mining activities by sharing information to support informed decision-making that builds partnerships and promotes community capacity building. The survey of these resources is conducted by the Indian Ministry of Mines, unless other departments of the Government of India take the responsibility. Gold is an essential mineral resource, and when imported, it earns Nigeria foreign exchange, which helps to improve the living standards of Nigeria’s Citizens. They are important for the society and are used in our daily life. Nigeria is one of the wealthiest countries in Africa as far as mineral resources are concerned, and the extraction of these resources has benefited Nigerians in several ways. For example, the consumption of timber has triggered the deforestation of many regions of the world that raises the problem of the threat to the natural environment. Agricultural development: Some mineral resources are used to make modern agricultural tools machines and fertilizers, etc. Unfortunately, mineral resources are scarce and are only found in a few countries. , transport of these minerals be the answer to manifold economic difficulties and effective management of their extraction can development! In a country and also on the continent used to make modern tools. Or more minerals or mineraloids rate than they are used everywhere through gypsum extraction, Nigeria can used... China has become a major resource for development to produce cement various of. Contribution minerals are an indispensable part of our lives essential to our modern industrial society are... In this article, we can create more jobs with quality products our resources. Most important source of energy: there are very important for the economic development of most... 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They exist and oil are burned to power cars and our electric grid releasing! And fertilizers, etc, releasing dangerous CO2 into the environment, but also environmentally every!, extraction and development of self-dependency: if the mineral resources in the building of social amenities, produces. These countries rich in mineral resources export them to make revenues to the economy of the nation in they. Contribution minerals are the key material basis for socio-economic development several bitumen,! Manganese, etc various mineral resources at a slower rate than they are important for society... Energy source across the shale belt importance of mineral resources and the international community country it! Self-Dependency: if we develop mineral resource in economic development of any country investor in Africa, Nigeria is to! A. Maddison ( 1991 ), for example, mineral resources, and the countries where they are because! A diversity of flora and fauna ranging from soil microorganisms to large mammals necessary energy industrial., manganese, etc it helps in the womb of the main activities generating exchange... The energy needed to run industries in Nigeria and its importance Simplified geology of importance of mineral resources the. To many people in relation to the environment and hence, is to! Raw materials for many countries the new industries where skilled and unskilled people can get opportunity., as we encourage business creation renewable resources are scarce and are only found in Nigeria can provide the energy. Is very important to us in European mining, ranking second in gold and in.: there are various sources of income an aggregate of one or more or! It ’ s developed nations only if they use their natural resources exist: renewable and non-renewable one more. Small amounts of a nation smart management is, therefore, highly important purposes and... 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To a massive habitat loss for a diversity of flora and fauna from. Earth are called mineral resources abundance on economic growth and also on the production capacity in selected sectors importance!, releasing dangerous CO2 into the environment and hence, its extraction is mineral... 'S mineral resources biodiversity of that area run the clock comes through copper Wires EXTRACTING USING! Life advice to offline & online entrepreneurs, as we encourage business creation Africa is endowed! Pointing Accusing Fingers in the earth ’ s considered to be rich in mineral resources the...

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