The most successful businesses are usually those which take a different approach and offer a service which no one else is offering. One of the sectors which are often overlooked by entrepreneurs is the ancient practice of mining. If you live in or are willing to travel to a region that has a lot of natural resources, you may be able to find profit in trading those resources with people who need them. It’s a complex topic which requires a lot of research, but to start you off here are 10 business ideas that you can start in the mining industry.
1. Mining for limestone
If you can mine for limestone you have the key ingredient needed for making cement which is obviously in high demand all over the world. Limestone is found in England, Cuba, Dominican Republic, USA, France, Nigeria and Jamaica.
2. Mining for iron-ore
In many countries including Brazil, Australia, China and Nigeria you can mine for iron-ore which is the main mineral involved in steel production.
3. Mining for gold
Gold mining is one of the oldest types of mining but gold can still be found in high quantities all over the world including South Africa, Australia and Russia. You could also buy and sell raw gold as part of the business.
Whatever the raw material you are mining for, you will need to ensure you have the right equipment. When you are just starting your business, it’s likely that you won’t have the capital to buy the equipment, so consider integrated tool carrier hire to avoid the large upfront costs and give yourself some flexibility.
4. Goods transportation service
If you are not interested in doing the mining, you could provide a transportation service. When the material has been mined it needs to be taken somewhere else to be refined or used.
5. Provide a brokerage service
The mining industry often relies on middle-men to broker the sale between the mining company and the buyer of what they have mined. By connecting buyers and sellers together you can earn a commission on what is being sold.
6. Machinery and equipment sales or leasing
You could also start a business selling or leasing mining equipment to other businesses, but you will need a lot of capital to invest in buying the equipment.
7. Lease an oil well
Oil is a precious commodity as it looks likely that the resource will be depleted in the next 40 years. If you are in a country like Canada, Russia, China, Saudi Arabia, Venezuela or Kuwait, you may be able to lease an oil well from the government or private investors to mine crude oil which you can then sell.
8. Start a quarry
A quarry is a simple idea but always useful as stones are always required in construction all around the world.
9. Set up a petroleum refinery
In some countries, they are producing crude oil but have very few refineries as so cannot turn the oil into fuel. Consider setting up a refinery in one of these countries like Nigeria.
10. Crude oil importation/exportation
If you are in a country which produces oil you could export the oil to other countries, and if you don’t live in an oil-producing country you could starting a business importing oil.
