12 Jan 3 Mining Business Ideas Worth Considering
Mining has been one of the most widely practised businesses in history, beginning with the primitive man who simply dug holes to get to minerals. Modern mining is far more advanced and profitable than this early form, but it still requires investors to start-up operations. If you are interested in starting a mining business, then there are several options that you can choose from.
This article provides an overview of some of the most popular modern mining business ideas used today by many entrepreneurs across the world. However, before delving too deeply into these different avenues for becoming involved in the mining industry, it is important to note that every prospective entrepreneur can’t be able to start his or her own mining operation.
This usually comes down to how much money you have available. If you want to become involved in the mining industry, you must put up some serious financial capital for this purpose. Even if all of the necessary equipment has already been purchased, someone still needs to be on-site at all times overseeing operations and reporting back with any developments or changes which may need attention.
Here Are 3 Mining Business Ideas
- Gold Mining Business:
Option 1: Recreational Mining
One of the most popular ways to start a gold mining business is recreational mining. Recreational miners extract their gold using small equipment such as metal detectors, metal core trays and sluices. The miner then sells his gold to local scrap shops or other local businesses.
To enter into this type of business, it is important for you to find out the legalities surrounding the recreational mining business in your area. In some areas, if you own land with gold on it, you can extract and sell your own gold without having to have any special permits or documentation.
However, with this being said, in many states, it is required all recreational miners register with the state. In addition, many states require recreational miners to have a mineral rights permit to extract gold from their land, even if they own it.
Option 2: Artisanal Mining
Artisanal mining is another popular method for starting a gold mining business. In this type of business, artisan miners work alongside professional miners who can support them with big equipment such as drills and dredges.
The artisan miner takes the leftovers from the pro’s work and extracts what he can be using small-scale methods such as sluices and metal detectors while sifting through waste piles looking for any gold missed by the larger equipment. This is often done on private property with the landowners’ permission or in areas that are public property but free to mine. These areas are often called “claims.”
To enter into an artisanal mining business, you must typically purchase your own equipment and supplies. First, however, it is important to find out what legal documentation you may need in order to start this type of business, as some states do require permits for artisanal mining while others don’t require anything at all.
Option 3: Placer Mining
One way of starting a gold mining business is through placer mining. This usually involves taking some heavy equipment such as excavators or bulldozers up into the mountains where the streambeds are located and digging them up with large machinery. Generally speaking, placer mining operations produce more gold than traditional excavation sites.
This is because more gravel deposits are found above ground than below it. To get into this type of business, you will need to purchase your own heavy equipment and secure a mining permit from the federal government to begin work.
- Fluorite Mining Business:
To enter into a fluorite mining business, you should research and find out what types of permits and documentation you may need for this type of venture in your area. As with most forms of gold mining, many areas require permits if you intend to dig on public land, while others do not require any sort of paperwork at all.
Also, be sure that the area where you intend to enter into mining has significant amounts of fluorite deposits; otherwise, your time might be wasted as there is little chance that you will get lucky enough to find some in most locations.
Mining and selling byproducts
Another way to get into the fluorite mining business is by processing and selling byproducts. This can be done in various ways, such as using fluorite ore to make bricks, tiles or glassware, which you can then sell locally or online through social media platforms like Facebook and Instagram or at trade shows and exhibitions.
In this type of business, your profit margins will not be very big; however, you’ll be able to generate income from residual waste that would otherwise sit around collecting dust until it is processed for its main value.
- Quartz Mining Business:
Since quartz is often found with gemstones such as amethyst, citrine and smoky quartz, large amounts of this are mined for the gemstones. To enter into a quartz mining business, you should research what types of permits are necessary to excavate on certain land areas.