10 Highly Profitable Solid Minerals To Export From Nigeria To International Buyers
In a previous article posted here, we delved into the lucrative world of international trade and talked about 8 highly profitable agricultural products to export from Nigeria to international buyers. But the global community doesn’t just buy only agricultural products to feed its population, they also buy solid minerals used in building industries, machines, and technological advancements.
In an ever-growing industrial world, the demand for solid minerals from many places around the world, especially Africa, and Nigeria, will only continue to grow, and very fast.
If you want to take advantage of this fast-growing industry by shipping lucrative solid minerals from Nigeria, here are 10 highly profitable solid minerals to export from Nigeria, Africa, and many other places around the world to international buyers:
Lithium is a mineral metal that has grown in high demand over the years. It is used in the production of lithium-ion batteries used in mobile phones, robots, electric cars, and much more, and as such, its demand is exploding.
Nigeria has deposits of lithium within solid minerals like amblygonite, lepidolite, spodumene, and petolite, and these minerals are now being actively mined by locals in various communities.
If you can spot some of mine sites with these minerals, you can first carry out a lab analysis to determine the lithium percentage then source buyers with the result of your test.
Cobalt is another solid mineral used in the production of electric car batteries, amongst other uses, and its global demand is skyrocketing every day.
It is used in alloys used in manufacturing aircraft engine parts and in alloys with corrosion-resistant uses.
Cobalt is widely used in electroplating and its salts are used to impart blue and green colours in glass and ceramics.
Nickel is yet again another solid mineral that is used in the manufacturing of electric car batteries. It is used as a cathode of multiple rechargeable batteries to deliver large storage capacity and high energy density at very low prices.
It is also used in making stainless steel, corrosion-resistant alloys, and in making desalination plants for converting seawater into freshwater.
Its international price and demand are very high, making it a very lucrative metal to trade.
Tin is used to coat other metals to prevent corrosion. Its alloys are soft solder, pewter, bronze and phosphor bronze. And it can also be used for superconducting magnets.
The global demand for tin is very high, and so is the price on the international market.
Gold still remains one of the most precious metals in the world. Its value has consistently risen over the years and its ownership gives a great alternative to people looking to save their money in precious metals instead of cash in the bank, and still be assured that their savings are rising.
The great advantage of gold is that it is resistant to inflation, economic downturns & instabilities, and much more, making its global value rise consistently.
6). Precious Stones:
Depending on the type of precious stone, its purity, how its cut or raw, and its size, trading precious stones could earn you a fortune.
Some of the top-priced precious stones in the world are diamonds, emeralds, alexandrites, rubies, aquamarine, and several others, and understanding how to check its worth and where to sell for the most value would create a great opportunity for you to take advantage of.
Copper remains an excellent conductor of electricity, and so, is still heavily used worldwide in electrical equipment like wiring and motors.
Because it has a slow corrosion rate, copper is used greatly in plumbing, cookware, cooking utensils, roofing, guttering, and as rain spouts on buildings.
Its price per metric tonne on the international market remains very high till this day.
Tantalite is used in alloys for strength and higher melting points, in glass to increase the index of refraction, and in surgical steel, as it is non-reactive and non-irritating to body tissues.
Its global demand is on the rise every year, and its international price continues to jump every single year.
Platinum is one of the most valuable precious metals in the world. In fact, it is far more valuable than gold and is greatly sort after in many parts of the world.
10). Muscovite Mica:
Muscovite mica is a largely unpopular mineral. Its international price might appear to seem very low, but the cost of acquiring it at the mines are many times lower than the international price, thereby giving the exporter a prospective profit margin of up to 30% to over 100%.
Muscovite mica is used in electrical insulators, mobile phone screens, cosmetics, brand new car paints, and several other applications.
Other Solid Minerals
While these solid minerals can be exported highly profitably from Nigeria and other places around the world to international buyers, some other solid minerals you can export but are not as profitable as the previously mentioned are:
- Manganese Ore
- Lead Ore
- Zinc Ore
- Calcium Carbonate
- Zircon Sand
- Silica Sand
- Iron Ore
And much more
To Sum It Up
Deciding what solid mineral to trade could be the difference between success and failure. If you pick wrong, you could struggle with a mineral that has little to no substantial international value.
By understanding the international market, following the prices of the commodities, and sourcing good export contracts, you could be well on your way to building a successful export business in Nigeria, Africa, or anywhere else around the world.
What are your thoughts on these 10 Profitable Solid Minerals To Export From Nigeria To International Buyers? Let me know by leaving a comment below
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