Economic Evaluation of Some Feldspar Deposits in Adavi and Ajaokuta Local Government Areas, Kogi State for Investment Purposes (Published)
The Zango Daji, area is part of the basement complex of Nigeria and is underlain mainly by schists and intrusive granitic and pegmatitic rocks along with sediments weathered from these rocks. The granitic and pegmatitic intrusives are source of feldspar with a significant K2O component (k-feldspar). Reconnaissance survey was conducted within the Zango Daji forest to collect relevant data and for mapping. The study of the area reveals the occurrence of feldspar deposit hosted by granitic and pegmatitic intrusives. Geographic Information System tools (GIS) was used to map the study area for primary data collection. Secondary data were obtained from relevant agencies. An analysis of the physical characteristics of the samples of feldspar deposit obtained from the study area through geological survey methods revealed the specific density of 2.56g/cm3 and hardness of 6. on the Mohs scale. These were determined through laboratory methods. The economic analysis was carried to determine the economic viability of the deposit through net present value. The result showed that the deposit has an enormous positive socio-economic benefits as a poverty reduction means, job creation, enhanced revenue and profit maximization. Statistical analysis was then conducted by means of the Statistical Package for Social Sciences (SPSS) program to process data to develop a mining model to evaluate the economic feasibility of the project. Market analysis showed that the price of crude and processed feldspar per ton are respectively above N150,000.00 and N420,000.000 internationally, while the export price of crude feldspar is less than N70,000.00 per ton locally. The results of the economic analysis and evaluation showed that the mining project is economically feasible given geoscientific and economic variables used and the assumptions made.
Keywords: Intrusives, K-feldspar, Zango Daji, mineral resource, pegmatitic, reserve estimation