- Country: Nigeria
- Industry: Construction, Engineering, Architecture
- Stage: Start-up
- Investment size: $500,000 / min. $250,000
- Type of investment: Debt, Equity
This is for a Quarry Project in Nigeria. Investment is sought to purchase modern machinery and start producing and selling granite.
The Ajegunle formation is made up of fine – and medium grained biotite – and – biotite muscovite granite that strikes northward into a valley from western axis. This valley would serve as a natural drainage for quarry operation.
From log evaluation, the rock is uniformly porphyritic. At about 3m to the ground, a layer of muscovite and feldspar forms a discontinuity of 0.2m thick.
Rig and bit penetration is constant up to 18m but slows down as it gets up to 25m. this due to drilling machine efficiency and hardness of the inner rock.
King livings tone granite deposit is situated at Ajegunle village near Alabata in Odeda local government area of Ogun State Nigeria.
The deposit consists of 4 blocks. In all the it contains 42.7 million tons granite. 156,000 tons per year can be produced.
A sieve analysis, water absorption, rock quality designation, porosity and crushing value tests were performed that have proven the quality of the material.
King Livingstone's granite proves to be very good for binding and road construction.
A market evaluation of granite in the region has been completed. The results show that all the quarries in Abeokuta suburb has complete sales of their aggregate except stone dust. It is difficult to satisfy the demand of buyers because of the state of machines the operators are using.
Sales of granite are largely dependent on the distance of the quarry to Lagos, Abeokuta or Ibadan as the case may be.
With new machines, it is possible to produce granite twice the quantity reflected in each quarry production per month. Since King Livingstone is close to the town with good assess road, sales will not be a problem.
Use of financing
Investment is sought to purchase modern machinery and start producing and selling granite.
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