How To Start The Lucrative Export Of Tin Ore From Nigeria To International Buyers
The abundance of solid minerals and metals in Nigeria continues to make the nation one of the wealthiest in the world. Over 120 different minerals are beneath the country’s surface. And profitable as they may seem, one of the most globally demanded minerals which are in vast volumes in Nigeria is the rich presence of Tin Ore.
International buyers all over the world are always looking to purchase Tin Ore from Nigeria because of its quality, abundance, and price. They come into the country on a regular basis for meetings with commodity trading companies and miners to see how they can establish long-term relationships with them to guarantee a steady supply of the commodity every month for at least one year. Depending on what they agree, they decide which supplier or suppliers to go with, issue an ICPO (Irrevocable Corporate Purchase Order), sign a contract, and start transacting.
The explosive demand for this mineral or concentrates in Nigeria by international buyers makes venturing into the export of Tin Ore minerals or concentrates from Nigeria to several countries around the world a lucrative export business to start up.
First, What Are Tin Ore Minerals Or Tin Concentrates?
Tantalite Ore minerals are rocks containing Tin, which is a chemical element with the symbol Sn and atomic number 50 that is not found as a free element in nature.
The Tin concentrate is the pure Tin extract from the rock (ore) itself.
So What Is Tin Ore Minerals Or Tin Concentrates Export About?
Tantalite Ore minerals or Tin concentrate export is the export of Tin from Nigeria to international buyers located in various parts of the world. It is exported in either the Tin Ore form or the Tin concentrate form, and are further processed upon arrival at the buyer’s facility into various forms of alloys or for other uses.
Facts About Tin Ore Minerals Or Tin Concentrates Export
- They’re found in the Northern and Southern parts of Nigeria.
- Tin Ore mining or processing can create a great source of employment.
- Tin is a chemical element with symbol Sn and atomic number 50.
- Tin is a silvery-white metal.
- The most common Tin Ore is Cassiterite.
- Tin is used to coat other metals to prevent corrosion, such as in tin cans, which are made of tin-coated steel.
- Tin is used in many specialized alloys including pewter and bronze. It is also used to create a special type of bronze called bell metal that is used for making bells.
- Tin has also been used to create decorative housewares. Tin is decorated in a process called punched tin and it is commonly used to make decorative lanterns.
- Molten glass used in the production of windows is often floated on top of molten tin to create a flat surface.
- A chemical compound of tin and fluoride, known as stannous fluoride, is used in toothpaste to improve dental health.
- Tin is essential for all living things
- The average human body contains about 20 milligrams of Tin.
- The profit margins on the sale of Tin Ore or Tin Concentrates to international buyers can be anywhere from 15% to 110% depending on if you’re the miner or are purchasing from the mines.
- As a broker, you can venture into this business with $0.
- China is the top importer of Tin Ore in the world.
- There are Tin deposits in Plateau, Abuja and Bauchi State and a few other states in Nigeria.
- Tin Ore minerals and Tin Concentrates prices are calculated in metric tonnes.
Business Opportunities In Tin Ore Minerals Or Tin Concentrates Export
1). Tin Ore Minerals Export:
The first layer of the mineral is the Tin Ore. These are usually sold at varying amounts at the mines depending on the percentage of Tin present in the ore and are then further resold to international buyers at varying prices per metric tonne depending on the specification, the seller’s connection to the mines, the trade process, and the final negotiations with the buyer.
In all, your profit margin from the export of Tin Ore from Nigeria can be anywhere from 15% to some rare cases of over 100%. But essentially, the price is usually at a certain percentage off the London Metal Exchange (LME) price.
2). Tin Concentrates Export:
The Tin concentrates are the further processed forms of the Tin Ores into the pure Tin concentrates. Since the Tin Ore is a rock with Tin in it, the Tin concentrates are the extracted Tin itself, which is then prepared for export.
The prices per metric tonne for Tin concentrates are largely determined by the London Metal Exchange (LME), and depending on what the LME price is at any point, the profit margins you’d earn is greatly dependent on how much you were able to procure the mineral.
3). Tin Ingots Export:
Tantalite ingots are pure Tin that is cast into a shape suitable for further processing. It is also called Tin bars, which is very similar in shape to gold or lead bars. They’re highly preferred for purchase by international buyers because they can easily be cast into a shape or something else, thereby saving the buyer a lot of time and money.
They’re more expensive than Tin Ores or Tin concentrates.
4). Tin Ore, Concentrates, And Ingots Brokerage:
When you have zero cash to start up any type of business, the first thing you should do is to venture into the brokerage of that business’ products, and in this case, Tin Ore, Tin Concentrates, and Tin Ingots Brokerage.
You could venture into the Tin mineral brokerage business by linking a buyer to a seller, and in the process, add a markup price per metric tonne for your organisation, after getting the final selling price from the seller.
But to ensure you have a successful brokerage business, it is important you legally protect your commissions. Any seller who claims to give you something without a contract backing it is bullshitting you. If they get arrogant and tell you to wait to get it without a contract, simply walk away and find another seller.
98% of all sellers are not trustworthy without a contract in hand or a bank indemnity to pay you your commissions.
Setting Up Your Tin Ore Minerals Or Tin Concentrates Export Business
1). Register Your Export Business:
The first step to starting a Tin Ore or Tin Concentrate export business is to register a legal business. To do this, you must first register a limited liability company with the Corporate Affairs Commission of Nigeria, then go on to register your business with the Nigerian Export Promotion Council and the Ministry of Solid Minerals.
Registered business names are not allowed to register with the NEPC, and so, you can only function as an exporter with a Limited Liability Company registered under the laws of the Federal Republic of Nigeria.
2). Find The Direct Mines and Sources For Exports:
Although this can be done before, during, or after your company has been registered with the appropriate bodies, the next step is to source for the direct mines that would be mining the Tin Ore Minerals or Tin Concentrates for you on behalf of your clients.
It’s usually better you get direct access to the mine, so you can get the best possible price. Going through a proxy would waste more time, cost more money, and reduce your profit margins.
Some states with mining sites to find Tin Ore or Tin Concentrate mineral miners are Plateau, Abuja and Bauchi State and a few other states in Nigeria.
3). Setup A Proper Business Structure, Trade Process, & Branding:
During or after registering and securing your buyers, it is important you set up a proper business structure that looks internationally reputable. Some ways to do this are to build an international standard website, get a business address, create a company profile, and also have a corporate offer format you can customize and send to buyers who request an offer. Also set up a corporate email that reads something like this: “firstname.lastname@example.org”.
If renting an office is too expensive, you could pay for a virtual office at a co-working hub and use their address for meetings.
When you organise your company this way, buyers would feel really confident about doing business with you and would tend to choose your business as their preferred partner.
4). Source For Buyers:
The next thing is to source for international buyers for your products. You can do this by registering on websites like:
And several others.
You can also build an influential social account on LinkedIn and market your Tin Ore Minerals to a unique business audience you’d build over time.
5). Export Your Products:
Upon sealing agreements with the buyers, getting issued an Irrevocable Corporate Purchase Order, signing a Sales and Purchasing agreement, and more, you can then proceed to ship the Tin Ore Minerals or Tin Concentrates to the buyer.
The shipment could be done on either Free On Board (FOB) or Cost, Insurance and Freight (CIF) basis. Where FOB means you cover the cost of the goods and every other thing till its arrival at the shipping point, and CIF means that you cover the cost of everything including insurance and transporting the goods to the buyer’s port of destination.
Challenges Of The Tin Ore Minerals Or Tin Concentrates Export Business
1). Lack of experience causes exporters to either purchase the wrong specifications, underprice or overprice their products, and much more.
2). Your mined Tin Ore minerals or Tin Concentrates en route a warehouse may get robbed or seized by government officials before arrival.
3). Fake buyers wasting exporters time with fake inquiries.
4). Most prospective entrepreneurs have little to no access to finance for their projects.
5). Most Tin Ore or Tin Concentrate sellers have poorly managed supply chains and may sometimes be unable to deliver.
6). Your time could be wasted as a result of long-term conversations with Tin Ore Minerals or Tin Concentrate buyers who have no real money to pay.
7). The large pool of fraudsters posing as Tin Ore Minerals or Tin Concentrate sellers makes it difficult for Tin Ore Minerals or Tin Concentrate buyers to trust you.
The Tin Ore or Tin Concentrate Mineral export business is a lucrative one for anyone who chooses to venture into the export of solid minerals from Nigeria. Depending on the quantity the buyer needs, your profit margins could be far higher or lower, but still substantial.
Starting a solid mineral export business in Nigeria with an initial focus on Tin Ore Minerals or Tin Concentrates is a way to not just only get into the industry, but a great start to building a long-term business that could someday employ thousands of people directly and indirectly.
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The export business remains one of the most profitable businesses in the world, including Nigeria, with profit margins going anywhere from 30% to in some cases over 100%. With the growing clamour by the Nigerian government for entrepreneurs should go into the export business, the need to effectively educate people on everything they need to know and to show them how to make their first one million Naira from the export business in Nigeria has become very paramount.
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An Important Point
Trying to buy Tin Ore Minerals or Tin Concentrates from Nigeria through genuine sellers can lead to a lot of wasted time and efforts on the part of the Tin Ore or Tin Concentrate Minerals buyers. They spend a lot of time vetting sellers in Nigeria, doubting their results even if positive, and going back and forth too many times than they can count, only to end up either cancelling their decision to buy or making a purchase after months or years have passed.
Finding real Tin Ore or Tin Concentrate Mineral sellers in Nigeria can be a problem. To make this possible for Tin Ore or Tin Concentrate Mineral buyers, Startup Tips Daily Media, through her sister company, Globexia, can export Tin Ore or Tin Concentrate Minerals to genuine buyers from Nigeria or anywhere in the world.
Whatever will help buyers close genuine Tin Ore Minerals or Tin Concentrate export-based transactions fast, transparently, and easier, we can make the process as stress-free as possible.
Our Tin Ore or Tin Concentrate Mineral export business is completely transparent, and as a result, we will not deal with a buyer who intends to cut corners or outsmart any party in the course of the transaction.
If you’re a genuine Tin Ore or Tin Concentrate Mineral buyer, you can reach out to us through the contact form below. If you’d like us also to help you export most of your Tin Ore Minerals or Tin Concentrates, we’d be glad to do so with mutually agreed terms.
In addition to our Tin Ore or Tin Concentrate Mineral export business in Nigeria, we’re also Mica Mineral sellers in Nigeria, and can export Mica minerals to buyers around the world.
If you’re only a scam, don’t waste your time, as the conversation wouldn’t last too long after a few questions and demands to prove your authenticity have been made from our end.
Our Tin Ore or Tin Concentrate Mineral Trade Specifications are listed below:
Mineral Type: Tin Ore / Tin Concentrates
Physical Specification: Based On Buyer’s Specification
Quantity: Based On Buyer’s Specification
Price: Negotiable / Metric Tonne
Trade Process: Ex Works/FOB/CIF
Payment Method: 100% irrevocable SBLC or L/C at sight from a top 25 prime bank
Shipping Time: 15 days after confirmation of L/C
Loading Port: Lagos, Nigeria
We look forward to hearing from you.
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What are your thoughts on this article on how to start the export of Tin Ore Minerals or Tin Concentrate Minerals from Nigeria? Let me know by leaving a comment below.