The solid minerals industry in Nigeria is one of the most profitable industries to venture into. Despite being a multi-billion dollar opportunity for the country, it has been largely ignored by the Nigerian government because of its misplaced and poorly managed exclusive focus on oil, and as a result, the country’s growth and development has suffered in the process.
One of the lucrative subsectors of the solid minerals industry anyone can start a business in is the exportation of muscovite mica minerals from Nigeria to many countries around the world.
A lot of merchants from different countries come into Nigeria to purchase mica minerals in the form of either mica stones or mica sheets. They patronise Nigerian exporters because they’re largely cheaper than other merchants in competing countries and the quality of the muscovite mica deposits here is really high.
Most of these mica mineral buyers come largely from Asia, with China holding the biggest buyers, and they pay periodic visits to meet with prospective exporters they could build a long-term relationship with.
With the widespread demands and opportunities that the export of mica rocks and mica sheets holds in Nigeria, venturing into its export is a business opportunity for any export savvy entrepreneur to explore.
See Also: How To Start The Export Of Lead Ore Minerals & Concentrates From Nigeria To International Buyers
First, What Are Muscovite Mica Minerals?
Muscovite Mica minerals, also called Mica crystals, are usually mined in rock forms, hence the name, mica rocks or stones.
The Muscovite is the most common type of mica. It is found in granites, pegmatites, gneisses, and schist’s. The Muscovite is widely used in the manufacture of insulating materials, fireproofing, lubricants, and even for windows and various forms of glass.
It is found in various parts of the country, with the major muscovite mica mineral deposits largely found in the Northern part of Nigeria, with reasonable deposits in some parts of the Western parts of Nigeria in places like Ibadan.
The other type of Mica is the Phlogopite Mica, which is softer than the Muscovite Mica and for instance, makes it more suitable for the manufacture of commutator Micanite used in commutators of flush running designs.
So What Is Muscovite Mica Mineral Export About?
Muscovite Mica Mineral export is the export of Mica rocks/stones or Mica sheets/flakes from Nigeria to various countries around the world. In its purest form, it is exported as rocks, but can be further broken down into sheets, which would enable the exporter even earn far more money.
See Also: The Crude Oil Marketing Business In Nigeria: Complete Guide For Buyers & Sellers
Facts About Muscovite Mica Minerals Export
- They’re mostly found in the remote parts of Northern Nigeria
- They can also be found in Ibadan, a South-Western part of Nigeria
- Mica are silicate minerals
- It creates a great source of employment
- They’re used in the production of windows, lubricants, and fireproofing, amongst others
- The profit margins on the sale of Muscovite Mica to international buyers can be up to 400%
- As a broker, you can venture into this business with $0
- Nigeria produces one of the most demanded muscovite mica minerals/stones/blocks/sheets in the world
- Muscovite mica mineral prices are calculated in metric tonnes
- Mica minerals are fairly light and relatively soft, and the sheets and flakes of mica minerals are flexible.
See Also: How To Start Exporting Manganese Ore/Concentrates From Nigeria To International Buyers
Business Opportunities In Mica Minerals Export
1). Muscovite Mica Blocks Export:
The first layer of the product is the Muscovite Mica blocks. These are usually sold for between 20,000 Naira to 40,000 Naira at the mines and are then further resold to international buyers at between $290 to $400 per metric tonne depending on the specification, the seller’s connection to the mines, the trade process, and the final negotiation with the buyer.
2). Muscovite Mica Sheet Export:
The Muscovite Mica Sheets are the sliced portions of the Mica blocks, which are the first processed layers of the Mica Rocks. The prices per metric tonne for this can be anywhere from $400 to $600 because it must be done with great precision and care to avoid causing the shipment to break before arrival, which could render your efforts useless.
Since slicing and shipping muscovite mica sheets is highly sensitive, the prices can be really high, in comparison with just exporting the Mica Blocks.
3). Muscovite Mica Blocks And Sheets 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, Muscovite Mica Blocks and Sheets Brokerage.
You could venture into the mineral brokerage business by linking a buyer to a seller, and in the process, add a markup of $50 per metric tonne for your organisation, after getting the final selling price from the seller.
If the buyer intends to buy 1,000 Metric tonnes of the Muscovite Mica Blocks or Sheets, you could earn $50,000 for your company.
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 either 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: How To Find International Buyers For Your Import/Export Business
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Setting Up Your Muscovite Mica Minerals Export Business
1). Register Your Export Business:
The first step to starting a Muscovite Mica Blocks / Sheets 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.
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 producing the Muscovite Mica Blocks/Sheets 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 Muscovite Mica Mineral miners are several parts of Northern Nigeria including Kwara State and some parts of the Western part of Nigeria, including Ibadan.
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: “[email protected]”.
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 Muscovite Mica 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 Muscovite Mica Minerals 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 A Diesel Supply Business In Nigeria: The Complete Guide
Challenges Of The Muscovite Mica Minerals 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 muscovite mica minerals en route a warehouse may get robbed 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 Muscovite Mica Mineral sellers have poorly managed supply chain and may sometimes be unable to deliver.
6). Your time could be wasted as a result of long-term conversations with Mica mineral buyers who have no real money to pay.
7). The large pool of fraudsters posing as Muscovite Mica Mineral sellers makes it difficult for Mica mineral buyers to trust you.
See Also: 15 Things That Kill Crude Oil Marketing Transactions In Nigeria
The Muscovite Mica 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 Muscovite Mica Minerals 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.
What are your thoughts on this article on how to start the export of Muscovite Mica Minerals from Nigeria? Let me know by leaving a comment below.
An Important Point
Trying to buy Muscovite Mica Minerals from Nigeria through genuine sellers can lead to a lot of wasted time and efforts on the part of the Mica 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 Muscovite Mica Mineral sellers in Nigeria can be a problem. To make this possible for Muscovite Mica Mineral buyers, Startup Tips Daily Media, through her sister company, Globexia, can export Muscovite Mica Minerals to genuine buyers from Nigeria.
Whatever will help buyers close genuine Muscovite Mica Blocks/Rocks/Sheets transactions fast, transparently, and easier, we can make the process as stress-free as possible.
Our Muscovite Mica 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 Muscovite Mica 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 Muscovite Mica Blocks/Sheets, we’d be glad to do so with mutually agreed terms.
In addition to our Muscovite Mica Mineral export business in Nigeria, we’re also AGO sellers in Nigeria (diesel suppliers in Lagos), and can supply AGO to tank farms, private or government organizations in Nigeria, or to countries like Cameroon, Ghana, and more, in the West African coast, while remaining humbly willing to also represent your interests as your AGO buyer mandate or AGO seller mandate.
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 Muscovite Mica Mineral Trade Specifications are listed below:
Mineral Type: Sheets / Crude blocks
Quantity: Up to 1,000 Metric Tonnes monthly
Price: between $290 to $400 / Metric Tonne
Trade Process: Ex Works/FOB/CIF
Payment Method: 100% irrevocable SBLC or L/C at sight from a top 25 prime bank
Packaging: 50 kg bags loaded in container 20″ FCL
Shipping Time: 15 days after confirmation of L/C
Loading Port: Lagos, Nigeria
Size: 1 inch – 5 inches
Moisture: < 0.5%
Color: White, spotless, transparent surface
We look forward to hearing from you.
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Export trade business our interest
Nice post. This is something I would love to do
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