What is Lead Ore?

Lead is a heavy metal that is heavier than most common materials. It is soft and has a relatively low melting point. When freshly cut, it turns bluish-white then when exposed to air it tarnishes to a dull grey colour.

An ore is a type of rock that contains sufficient minerals with important elements including Lead that can be economically extracted from the rock.

In Nigeria, Lead Ore is usually sourced from mining sites which are scattered in different parts of the country especially in the north. Nigeria has over 10,000,000 metric tons of lead ore deposits, and to take advantage of this resources, interested investors can mine/source and export the product.

Types of Lead Ores

1) Galena: The Galena is also called Lead Glance. It is an important source of silver and the most important ore of lead.

2) Anglesite: This is a lead sulphate mineral with the chemical formula PbSO4. Anglesite contains 74% of lead by mass and therefore has a high specific gravity of 6.3. Its colour is white or grey with pale yellow streaks. It may be dark grey if impure.

Trade Process

Trade process spreads across CIF, FOB, TTO, and TTT, depending on the buyer's preference.

Here's what they entail:

1). Cost Insurance and Freight (CIF): Here, the seller will handle everything from loading the vessel, paying for insurance, and sending the product to wherever the buyer wants it delivered.

2). Freight On Board (FOB): Here, the seller pays for the transportation of the goods to the port of shipment, plus loading costs, while the buyer pays the cost of marine freight transport, insurance, unloading, and transportation from the originating port to the final destination.

3). Tanker Take Over (TTO): Here, the buyer will take over the vessel, offload the product at their destination, and return it.

4). Tanker To Tanker (TTT): Here, the buyer uses their own vessel, long sides with the seller's vessel, and then the cargo is transshipped when the transaction is fully settled.

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