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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 Code: FORA/2013/022
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The
training cuts across different segment of the economy to include
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and Quarry, Oil and Gas, Retail Industry, Telecommunication, Tourism
and Transportation and are facilitated by seasoned professionals in
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Please do visit the link below to access available training programmes
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keeping with our vision of providing services that adds value to our
clients business and resources to develop their business into a strong
and visible global brand, we would like to introduce to you to our
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