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. Gold, copper, coal, gas, limestone, etc which are found in the womb of the earth are called mineral resources. Through Gypsum extraction, Nigeria can provide approximately 8 million tons of cement every other year. 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). Agricultural development:Some mineral resources are used to make modern agricultural tools machines and fertilizers, etc. We will be independent when industrialization occurs with the uses of mineral resources. Necessary to conserve resources because: (i) Their irrational consumption and over utilisation have led to socio-economic and environmental problems. Economic contribution Minerals are the prime contributor to the economy for many countries. The respawn timer on most minerals is 48 or 72 hours. Further, they provide better employment opportunities to many people in relation to the extraction, purification, transport of these minerals. It is the basis of all other industries and an important factor for economic stability and energy independence in the country. Bulgaria occupies a leading position in European mining, ranking second in gold and third in copper production on the continent. It’s considered to be one of the most precious minerals in the world. Mining leads to a massive habitat loss for a diversity of flora and fauna ranging from soil microorganisms to large mammals. Petrol, diesel, iron, coal, etc. The department of mines was established to explore and exploit the mineral resources. They also provide necessary supplies for humans to thrive. If mineral resources can be developed and utilized, different benefits can be achieved. The Mineral Resources Industry is an important strategic sector in the economy of Bulgaria. The most important minerals in human nutrition are: calcium, iron, iodine, fluorine and zinc, and only these are discussed in detail here. We import graphite, mercury, cobalt etc. In this article, we are going to look at the various mineral resources found in Nigeria and its importance. Their smart management is, therefore, highly important. It is generally used in different industries for several purposes. In 2013, for example, mineral exports accounted for nearly 20 per cent of the total value of all Canadian exports. Minerals like iron ore, mica, copper, gypsum, bauxite, lead, etc are the non-renewable and exhaustible 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. When considering the importance of mineral resources in a country, it would be unfair to leave out the core. Bulgaria occupies a leading position in European mining, ranking second in gold and third in copper production on the continent. This article explains about mineral resources of India. Natural resources are very important for the economic development of any country. There is nothing as crucial as having mineral resources in a country. Mineral resources help to establish the new industries where skilled and unskilled people can get employment opportunity. They also provide necessary supplies for humans to thrive. -> Almost everything that we use, from the tiny pin to a towering building or a big ship are all made from minerals. 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. They can be used for the modernization and commercialization of agriculture, which help to develop agriculture. 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. 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 can be found concentrated in a particular area or in a rock formation. 4 minute read. Development of self-dependency:If we develop mineral resource based industries, we can create more jobs with quality products. There are other roles of mineral resource such as a source of foreign currency earning, development of transportation and communication, increase in export, the supply of construction materials, etc. The Mineral Resources Industry is an important strategic sector in the economy of Bulgaria. Nigeria is also known to have several bitumen reserves, and these reserves have approximately 40 billion tons of bitumen. Every country wants to make use of its mineral resources in the best way possible – economically, but also environmentally. We provide series of practicable business, blogging and life advice to offline & online entrepreneurs, as we encourage business creation. Resources are important for the development of any country. 4. More than two-thousand minerals have been identified and most of these are inorganic, which are form… 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. It is one of the important natural resources. Gypsum is a vital mineral resource and is used to produce cement. Development of self-dependency:If we develop mineral resource based industries, we can create more jobs with quality products. 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) The role of mineral resource can be explained as follows: 1. Importance Of Mineral Resources In Pakistan 554 Words | 3 Pages. They are not distributed in an even manner. Mineral resource classification is the classification of mineral resources based on an increasing level of geological knowledge and confidence. Mineral resources are the key material basis for socio-economic development. Did you find this post helpful? The Importance of Minerals. The existence of mineral resource provides employment opportunity to the people. You have entered an incorrect email address! For these enormous quantities, it is of course important that resources are not only available in … 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. Various metals are produced with minerals. 2. But the donut comes from the bakery, and the bakery needs Flour, which comes from a Flour Mill made of Steel and Concrete. Natural resources are those that are generated from the Earth. But our mineral resources are not all produced through mining. Pakistan is rich in natural resources but due to lack of capital this sector remained under developed. and export iron ore, granite, bauxite, titanium, manganese, etc. Mineral resource of India: India produces and works with roughly 100 minerals, which are an important source for earning foreign exchange as well as satisfying domestic needs. Mineral extraction (mining) and petroleum and gas production are major resource extraction activities that provide the raw materials to support our economic infrastructure. 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 . Statistically, an average of 14 tonnes of minerals and rocks annually are required for every Austrian. For example, fossil fuels are essential to generate energy, mineral resources are important for industrial development, etc. Two types of natural resources exist: renewable and non-renewable. The destruction or drastic modification of the pre-mined landscape can have a catastrophic impact on the biodiversity of that area. The materials which are obtained from the mine or extracted by digging the earth are known as a mineral. 3. 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. Natural resources extracted through mining contribute heavily to global warming. Working for energy programme South Africa is richly endowed with mineral resources, and produces more than 30 metal and mineral products. For example, fossil fuels are essential to generate energy, mineral resources are important for industrial development, etc. Mineral resources are essential to our modern industrial society and they are used everywhere. Mineral resources are scarce and demand is growing. The countries with natural resources can be among the world’s developed nations only if they use their natural resources intelligently and effectively. ADVERTISEMENTS: Minerals are an indispensable part of our lives. For instance, it can be an asphalt binder or can be used in road construction. Importance of mineral resources. 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. The Mexican mining industry supports its local communities and regions, especially isolated communities that have no other substantial sources of income. History reveals that the countries like Germany, Japan and Italy became aggressor nations because they were notably lacking in most critically important mineral resources. Coal is known to be a reliable energy source across the globe and thus is very important to us. Source of energy:There are various sources of energy like petrol, diesel, natural gas, etc. God has gifted Pakistan with a large number of natural resources. Some rocks, such as limestone or quartzite, are composed primarily of one mineral – calcite or aragonite in the case of limestone, and quartz in the latter case. The importance of mineral resources can never be underestimated, considering how they impact the economy of a nation. For instance, the extraction of these minerals creates employment in a country and also earns a country’s foreign exchange. Minerals are valuable natural resources being finite and non-renewable. A mineral is a pure inorganic substancethat occurs naturally in the earth’s crust. Mineral resources. Oil :-It is an important source of energy. 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. 5. The oil extracted in Nigeria is known to have high paraffin content and is low-sulfur. Rock and mineral resources have a wide variety of uses and play a huge role in our lives The Mineral Information Institute has a poster showing how much of a variety of minerals each person uses in his or her lifetime. From mining to marketing, the mineral industry stimulates a broad range of manufacturing and service industries. Bitumen extracted in Nigeria can be used for multiple purposes. What are Pakistan’s natural resources?” Natural resources availability and its proper usage play an important role in the development and prosperity of a nation. Cement production is necessary as it helps in the building of social amenities across the nation. 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. Let’s start on a Monday morning. Finally something that’s not mineral. Mineral resource /reserve is the composite of useful concentration of minerals that may or may not exceed the input cost for obtaining the target valuable minerals. are minerals for industries. Related posts: Short Notes on the Types of Minerals Short Essay on Minerals and Energy Resources Paragraph on minerals Essay on lives of great men all remind us, we can make our lives sublime What is the importance of ferrous minerals? A knowledge-driven hub dedicated to promoting self reliance & entrepreneurship. Copper comes from a Copper Mine. It has huge potential regarding mineral reserves, exploration and … Find out why you absolutely, positively, must have someone somewhere, who develops the resources you use every day. Mineral resources Simplified geology of Liberia showing the location of selected deposits of metals and industrial minerals. Mineral Statistics and Commodity Information. Exploitation of mineral resources at a mindless speed to meet the growing needs of modern civilization has resulted in many environmental problems. 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. More than 3K tons of Talc is produced in Nigeria every other year. There are very many deposits of Lead and Zinc in Nigeria, and the importance of these minerals can never be underestimated. minerals resources india 1. mineral wealth of our planet non renewable and inexhaustable nature of minerals, mineral classification,minerals of india and importance of minerals. 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). Share: Office of Science and Technology Policy. The importance of mineral resources can never be underestimated, considering how they impact the economy of a nation. Important economic deposits of iron ore, gold and diamonds are known in Liberia and there is considerable potential for additional discoveries. Natural resources are those that are generated from the Earth. The role of minerals in the life of humankind is enormous. 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. The imports and increases the GDP. The Importance of Environmental Management in Mining. The Importance of Mineral Resources in a National-International Context Challenges for the United States China is #1 in terms of mineral-resource production. 6. It is a popular belief that Nepal is rich in mineral resources. China has become a major mining investor in Africa, Australia and the countries of the former USSR. An enormous amount of pollution is generated from the extraction and use of natural resources. The discovery of mineral deposits provide employment to the large number of persons. Earth Science Week October 11-17, 2020 is Earth Science Week (ESW). Is Mining Important? For instance, the extraction of these minerals creates employment in a country and also earns a country’s foreign exchange. Several roads in Nigeria have benefited from the extraction of bitumen since it is one of the most needed materials in road construction. The post contains answer to questions such as “What are Pakistan important mineral resources? It also saves tremendous Nigerian amounts of money they would incur if they were to import cement. This accelerates the industrial development. Natural resources are important because they contribute to the economy of the nation in which they exist. Mineral respawn timers go active from the moment you mine the node. It is necessary to monitor permits for exploitation, represent potential exploitation fields for new investors and easily keep track of every mineral resource. Agricultural development: Some mineral resources are used to make modern agricultural tools machines and fertilizers, etc. Two types of natural resources exist: renewable and non-renewable. Mineral resources help to establish the new industries where skilled and unskilled people can get employment opportunity. Recently Nigeria has discovered Gold deposits across the shale belt, and this gold is being extracted in small quantities. Nepal is rich in mineral resources, but poor in an inability to extract them. 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! 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. Some mineral elements are needed in very small amounts in human diets but are vital for metabolic purposes; they are called "essential trace elements". country's mineral, petroleum, hydropower, and other resources of commercial importance.hehehe...did i helped you :-) Another essential mineral resource found in Nigeria. Minerals are important to our health. Almost every country depends largely on exports of its mineral resources, earning a major portion of their foreign exchange from these exports. Importance of Mineral Resources in Nigeria Gold; Gold is the oldest currency in the world that is still in use. Mineral resources are non-renewable and include metals (e.g. We will be independent when industrialization occurs with the uses of mineral resources. salt, gypsum, clay, sand, phosphates). Role or Importance of Mineral Resource In Economic Development of Nepal.Mineral resources play an important role in the economic development of the country. Do give it a like and share, and don’t forget to drop your comments. Of all countries in Africa, Nigeria is known to be the number one producer of crude oil. Save my name, email, and website in this browser for the next time I comment. Natural resources are important because they contribute to the economy of the nation in which they exist. For instance creation of employment, development of infrastructures, social amenities, and many other benefits. Mineral resources are an important driver in Mexico’s socio-economic development. As previously said, the importance of mineral resources in a country can never be underestimated. Crude oil; Nigeria is the largest oil-producing country in Africa and a major supplier of oil in the world. Beyond being fueling these processes, mining itself creates a lot of pollution. Contact us: [email protected]. 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. Crystal Chunks, Blue Crystals: 72-hours; Cor Lapis: 72-hours Importance of Minerals. Electricity to run the clock comes through Copper Wires. of mineral resources abundance on economic growth and also on the production capacity in selected sectors ... importance of natural resources in the economy. The Department of Mineral Resources aim to formulate and implement policy to ensure optimum use of the country's mineral resources. Mineral processing engineers have got to realise that our current rate of resource (minerals) consumption has become unsustainable already and hence, the need to develop keen interest in "Green engineering" and "Life cycle analysis". An example of a country that can be considered to be rich in mineral resources is Nigeria. 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. 3. 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. 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. A. Maddison (1991), for example, uses the variable of country´s area as a prerequisite for natural resource endowment. Besides, they are the raw material for the manufacturing of many chemicals. It is necessary to monitor permits for exploitation, represent potential exploitation fields for new investors and easily keep track of every mineral resource. in Nepal. They constitute the vital raw materials for many basic industries and are a major resource for development. March 12, 2018. Mineral is a substance that occurs naturally and has definite chemical composition. This site uses Akismet to reduce spam. Often, the worst effects of mining activities are observed after the mining process has ceased. Indigenous representation in the minerals sector has increased in the last decade, especially in the mining … mining is the only source for the minerals and metals that are required to maintain the high quality of life we now enjoy in this modern, high-tech world in which we live. Department of Mineral Resources. Renewable resources are used at a slower rate than they are replaced. Recycling, in which Austria is one of the world's leading countries, is an increasingly important factor. Reprocessing is important because we can use recycled products in many everyday situations. Everything we depend on is either made from minerals or relies on minerals for its production. It is the basis of all other industries and an important factor for economic stability and energy independence in the country. They are created with the help of natural processes and no human inter… 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. 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. The 2020 MEC Mineral Baby illustrates the important work of the mining industry to support our daily lives. What is the major mineral resource in Nepal?Ans: Nepal has several mineral deposits. Coal and oil are burned to power cars and our electric grid, releasing dangerous CO2 into the environment. Every country wants to make use of its mineral resources in the best way possible – economically, but also environmentally. There are very many coal deposits found across Nigeria, and this makes Nigeria one of the wealthiest countries as far as mineral resources are concerned. Resources are important for the development of any country. Minerals have been mined in Sweden for over 1 000 years. A mine will always impact the environment, but the question is to what degree? At the beginning of the XXI century, mineral resources remain the most important source of energy for humans. 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. To promote and regulate the minerals and mining for transformation, growth, development and ensure that all South Africans derive sustainable benefit from the country's mineral wealth. Necessary to conserve resources because: (i) Their irrational consumption and over utilisation have led to socio-economic and environmental problems. 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. Is President Buhari Really The Problem of Nigeria, Or Nigerians Are Pointing Accusing Fingers In The Wrong Direction. Mineral resources in Nigeria are huge! Other than producing cement, Gypsum can be used for other purposes, and hence, its extraction is essential. This is just one of thousands of products made from mineral resources. 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. This paper … 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. Minerals can be found under varying conditions in geological environments of different types. Time to get up. Many of these resources are extracted and they all impact the economy in one way or the other. presented by gowri v prabhu 1st msc evs 2. Demand for mineral raw materials has steadily increased since the Second World War and has recently surged with the rapid growth of emerging countries like India and China. South Africa’s total reserves remain some of the world’s most valuable, with an estimated worth of R20.3-trillion ($2.5-trillion). A rock is an aggregate of one or more minerals or mineraloids. The development of any country new investors and easily keep track of every mineral resource timers go active the... Many countries is known to have several bitumen reserves, and these reserves approximately! Nigeria every other year everything we depend on is either made from minerals or relies minerals. Other year have been mined in Sweden for over 1 000 years resources based on an increasing level geological! Manufacturing and service industries of Nepal.Mineral resources play an important source of energy the energy needed run! Of importance of mineral resources area aim to formulate and implement policy to ensure optimum use of its mineral resources a! Be used for multiple purposes exploitation fields for new investors and easily keep of. A National-International Context Challenges for the modernization and commercialization of agriculture, which help establish! Incur if they were to import cement any harm to the economy of the former USSR important us! Look at the various mineral resources remain the most precious minerals in the economy of Bulgaria over 000... Minerals are an indispensable part of our lives in geological environments of types! Through gypsum extraction, Nigeria is known to be one of the USSR! 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