For the benefit of those who need to know, an attempt would be made to define mineral and metal ore. Mineral is an inorganic substance found in nature with a characteristics chemical composition and in some cases, of definite crystal structure. The earth crust contains rocks of different composition with different physical properties. Some hard, some soft.
Rocks are the materials which the earth’s upper crusts are made of. Rocks are themselves composed of minerals. Minerals are naturally occurring elements like Gold, or a compound such as Iron Oxide. If a rock contains a mineral from which a metal can be extracted at a profit, it is call an Ore. For example, Tin Ore.
Tin ore {Cassiterite} is the second –easiest ore to mine. It is mined from tin veins. Cassiterite is a tin oxide mineral, SnO2. It is generally opaque but it is translucent in thin crystals. Its luster and multiple crystal faces produce a desirable gem. Cassiterite has been the chief tin ore throughout ancient history and remains the most important source of tin today.
Most sources of cassiterite today are found in alluvial or placer deposits containing the resistant weathered grains.
Tin mineralisation in Nigeria is within the Younger Granites of Jos Plateau. They are two types: primary deposits found as disseminations in the biotite granite and pegmatities and placer deposits found among gravel pockets in both ancient and modern stream channels.
Most of the tin today is recovered from the placer formations by stripping and open pit mining. Ore grade is high (about 1.5 kgm-3) and beneficiation is by gravity or magnetic floatation or a combination of the two.
Associated gangue minerals include magnetite (Fe3O4), ilmenite (FeTiO3), Zircon (ZrSiO4), thorite (ThSiO4) and monazite (Le, La, Y, Th(PO4)). Gem quality beryl and semi-precious gem quality topaz are also associated with the cassiterite.
The business involves the sourcing of Tin Ore, milling and packaging same for export.The commodity would be packaged in rakes of 50/80/100 KG depending on buyer requirement. Delivery would be FOB, Free on Board. The investor would load the goods on board the ship nominated by the buyer and clear the goods for export.
Because of the numerous uses of Tin ore, there is steady and increasing demand for the product.
The market for tin ore especially the overseas market in China is large, expanding and sustainable because of the numerous uses of tin ore. Buyers usually would like to secure steady source of supply of these products.
An exporter that is able to secure a contract at the right price would have an uphill task meeting the demand of the buyer because the output from the mines in Nigeria is low due to the use of crude implement. You can imagine a situation whereby the daily need of the factory of the buyer is 600/MT and the exporter would struggle to supply 500/MT on a monthly basis.
The return on investment on the milling, packaging and export of tin ore is estimated between 10%- 30%.
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At Foraminifera Market Research {www.foramfera.com}, we provide bespoke and up to date market research reports for beginners and exporters already in the commodity export market.
Our reports are designed to assist start-ups to understand the legal and financial requirements of starting the business, the market trends vis-a-vis demand and supply, competition, risk identification and mitigation strategies.
You can order our detailed feasibility report on the milling, packaging and export of tin ore in Nigeria by clicking on the link below.
Report Title: TIN ORE MILLING AND EXPORT IN NIGERIA; THE FEASIBILITY REPORT.
Report Code: FORA/2013/022
Tin Ore Mining in Nigeria
Report Title: TIN ORE MINING AND PROCESSING IN NIGERIA, THE PRE-FEASIBILITY REPORT.
Report Code: FORA/05564-807/2015/TINOREMININGINNIGERIA/82108210
Tin Ore Export in Nigeria
Report Title: TIN ORE EXPORT IN NIGERIA
Report Code: FORA/08/2011/041
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