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The consequences of this over-exploitation of mineral wealth have to be serious, drastic and enormously damaging to the entire biosphere These can be summed up as follows: 1 Rapid Depletion of High Grade Mineral Deposits: Exploitation of mineral wealth at a rapid rate shall naturally deplete our good quality deposits

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SIGNIFICANCE OF MINERAL RESOURCES IN THE NIGERIAN ECONOMY INTRODUCTION Mineral resources are the natural resources which cannot be renewed They are present in the organisms as an organic and inorganic molecule and ions The calcium, phosphorous, sodium, chlorine and sulphur are the major minerals in the animals

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· The Nigerian Minerals and Mining Act 2007 (the Act) was passed into law on March 16, 2007 to repeal the Minerals and Mining Act, No 34 of 1999 for the purposes of regulating the exploration and exploitation of solid materials in Nigeria