How To Start Exporting Zinc Ore Minerals & Concentrates From Nigeria To International Buyers

How To Start Exporting Zinc Ore Minerals & Concentrates 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 Zinc ore.

International buyers all over the world are always looking to purchase Zinc 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 Zinc ore minerals or concentrates from Nigeria to several countries around the world a lucrative export business to start up.

See Also: How To Start The Lucrative Export Of Muscovite Mica Minerals From Nigeria To International Buyers

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First, What Are Zinc Ore Minerals Or Zinc Concentrates?

Zinc ore minerals are rocks containing Zinc, which is a chemical element with the symbol Zn and atomic number 30 that is not found as a free element in nature.

The Zinc concentrate is the pure Zinc extract from the rock (ore) itself.

 

So What Is Zinc Ore Minerals Or Zinc Concentrates Export About?

Zinc ore minerals or Zinc concentrate export is the export of Zinc from Nigeria to international buyers located in various parts of the world. It is exported in either the Zinc ore form or the Zinc concentrate form, and are further processed upon arrival at the buyer’s facility into various forms of alloys or for other uses.

See Also: How To Start Exporting Charcoal From Nigeria To International Buyers

 

Facts About Zinc Ore Minerals Or Zinc Concentrates Export

  • They’re found in the Northern and Southern parts of Nigeria.
  • Zinc ore mining or processing can create a great source of employment.
  • Zinc is a chemical element with symbol Zn and atomic number 30.
  • Zinc is a bluish-silver, lustrous metal.
  • Zinc is refined by froth flotation of the ore, roasting, and final extraction using electricity
  • Zinc is the 4th most widely used metal after iron, aluminum, and copper.
  • The most common zinc ore is sphalerite (zinc blende), a zinc sulfide mineral.
  • More than half of all zinc that is mined is used for galvanizing other metals such as steel and iron in order to coat them with a thin coating of zinc to prevent them from corroding or rusting. Galvanised steel is used for car bodies, street lamp posts, safety barriers and suspension bridges.
  • Zinc is used to produce die-castings, which are important in the automobile, electrical and hardware industries.
  • Zinc is also used to form alloys with other metals.
  • The name is derived from the German, ‘zinc’, which may in turn be derived from the Persian word ‘sing’, meaning stone.
  • Zinc oxide is widely used in the manufacture of very many products such as paints, rubber, cosmetics, pharmaceuticals, plastics, inks, soaps, batteries, textiles and electrical equipment.
  • Zinc sulfide is used in making luminous paints, fluorescent lights and x-ray screens.
  • Zinc is essential for all living things
  • The average human body contains about 2.5 grams of Zinc and takes in about 15 milligrams of Zinc daily.
  • The profit margins on the sale of Zinc Ore or Zinc 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.
  • Nigeria is estimated to have over 80,000 tonnes of Zinc Ore deposits, while its counterpart Lead ore is over 10,000,000 tonnes.
  • China is the top importer of Zinc Ore in the world.
  • There are Zinc deposits in Anambra, Ebonyi, Plateau, Cross Rivers, Zamfara, Abuja (FCT), Enugu, Imo, Kano, Niger, and Taraba, Nasarawa and a few other states in Nigeria.
  • Zinc is usually found alongside iron and other minerals.
  • Zinc Ore minerals and Zinc Concentrates prices are calculated in metric tonnes.

See Also: How To Start The Export Of Lead Ore Minerals & Concentrates From Nigeria To International Buyers

 

Business Opportunities In Zinc Ore Minerals Or Zinc Concentrates Export

1). Zinc Ore Minerals Export:

The first layer of the mineral is the Zinc Ore. These are usually sold around 250,000 Naira and above at the mines depending on the percentage of Zinc 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 Zinc 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). Zinc Concentrates Export:

The Zinc concentrates are the further processed forms of the Zinc ores into the pure Zinc concentrates. Since the Zinc ore is a rock with Zinc in it, the Zinc concentrates are the extracted Zinc itself, which is then prepared for export.

The prices per metric tonne for Zinc 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). Zinc Ingots Export:

Zinc ingots are pure Zinc that is cast into a shape suitable for further processing. It is also called Zinc 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 Zinc ores or Zinc concentrates.

4). Zinc 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, Zinc Ore, Zinc Concentrates, and Zinc Ingots Brokerage.

You could venture into the Zinc 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.

See Also: 25+ Lucrative Mining Business Ideas And Opportunities in Nigeria

 

Setting Up Your Zinc Ore Minerals Or Zinc Concentrates Export Business

1). Register Your Export Business:

The first step to starting a Zinc Ore or Zinc 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.

See Also: 10+ Legal Requirements For An Import And Export Business in 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 Zinc Ore Minerals or Zinc 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 Zinc Ore or Zinc Concentrate mineral miners are Anambra, Ebonyi, Plateau, Cross Rivers, Zamfara, Abuja (FCT), Enugu, Imo, Kano, Niger, and Taraba, Nasarawa 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: “yourname@yourcompanywebsite.com”.

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 Zinc Ore Minerals to a unique business audience you’d build over time.

See Also: How To Find International Buyers For Your Import/Export Business

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 Zinc Ore Minerals or Zinc 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.

See Also: How To Start Exporting Manganese Ore/Concentrates From Nigeria To International Buyers

 

Challenges Of The Zinc Ore Minerals Or Zinc 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 Zinc Ore minerals or Zinc 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 Zinc Ore or Zinc 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 Zinc Ore Minerals or Zinc Concentrate buyers who have no real money to pay.

7). The large pool of fraudsters posing as Zinc Ore Minerals or Zinc Concentrate sellers makes it difficult for Zinc Ore Minerals or Zinc Concentrate buyers to trust you.

See Also: How To Start An Import/Export Business In Nigeria: A Short Guide

 

Conclusion

The Zinc Ore or Zinc 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 Zinc Ore Minerals or Zinc 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.

 

An Important Point

Trying to buy Zinc Ore Minerals or Zinc Concentrates from Nigeria through genuine sellers can lead to a lot of wasted time and efforts on the part of the Zinc Ore or Zinc 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 Zinc Ore or Zinc Concentrate Mineral sellers in Nigeria can be a problem. To make this possible for Zinc Ore or Zinc Concentrate Mineral buyers, Startup Tips Daily Media, through her sister company, Globexia, can export Zinc Ore or Zinc Concentrate Minerals to genuine buyers from Nigeria or anywhere in the world.

Whatever will help buyers close genuine Zinc Ore Minerals or Zinc Concentrate export-based transactions fast, transparently, and easier, we can make the process as stress-free as possible.

Our Zinc Ore or Zinc 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 Zinc Ore or Zinc 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 Zinc Ore Minerals or Zinc Concentrates, we’d be glad to do so with mutually agreed terms.

In addition to our Zinc Ore or Zinc 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 Zinc Ore or Zinc Concentrate Mineral Trade Specifications are listed below:

Origin: Nigeria

Mineral Type: Zinc Ore / Zinc 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.

Thank you.

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Startup Tips Daily Media

Cardinal Building, 3 Ijaiye Road, Ogba,

Lagos, Nigeria

Phone: +234 808 0888 162

Email: Stanley.edom@globexia.com

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Writing a bank and investor ready professional Zinc Ore Export business plan can be challenging. If you need a professional and affordable business plan service, StartupTipsDaily’s MBA standard professional business plan writing service is perfect for your small business.

All you have to do is request an understanding of your proposed business model, and you’d have a professional MBA standard business plan ready for you in anywhere from 5 to 14 days. You can click here to get started with using StartupTipsDaily’s professional business plan writing service to create the perfect business plan that’d get accepted anywhere.

 

What are your thoughts on this article on how to start the export of Zinc Ore Minerals or Zinc Concentrate Minerals from Nigeria? Let me know by leaving a comment below.

 

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