Tuesday, July 5, 2011

Product Profiles- Manganese Ore



Description: Manganese is a chemical element, designated by the symbol Mn. It has the atomic number 25. It is found as a free element in nature (often in combination with iron), and in many minerals. As a free element, manganese is a metal with important industrial metal alloy uses, particularly in stainless steels.

Occurrence: Manganese makes up about 1000 ppm (0.1%) of the Earth's crust, making it the 12th most abundant element there. Soil contains 7–9000 ppm of manganese with an average of 440 ppm. Seawater has only 10 ppm manganese and the atmosphere contains 0.01 µg/m3 Manganese occurs principally as pyrolusite (MnO2), braunite, (Mn2+Mn3+6)(SiO12), psilomelane (Ba,H2O)2Mn5O10, and to a lesser extent as rhodochrosite (MnCO3).

Locations: Manganese ore is found in different parts of Nigeria and these includes:  Adamawa, Bauchi, Benue, Borno, Cross River, Kaduna, Plateau, Katsina, Kebbi and Nassarawa.

Specifications:
Components    Content %
Mn                    30-70
Fe                     2.0-2.5
P                      0.3 Max
Silicon              21.0 Max      
CaO                  4.0 Max
MgO                 5.0 Max
Al                     3.0 Max

Uses: Manganese has no satisfactory substitute in its major applications, which are related to metallurgical alloy use. In minor applications, (e.g., manganese phosphating), zinc and sometimes vanadium are viable substitutes. In disposable battery manufacture, standard and alkaline cells using manganese will probably eventually be mostly replaced with lithium battery technology.


Manganese is also used sparingly in the manufacture of coins in various countries. Current, the European Union uses manganese to produce one- and two- Euro coins, while in the United States; the one dollar coin contains high levels of manganese

A number of other uses for manganese are common today. For example, the inclusion of manganese in gasoline additives has been shown to boost octane ratings and helps to minimize engine knocking. In glass making, manganese helps to remove the green tinge that is something left by the presence of iron particles. Manganese phosphates help to deal with rust and corrosion on steel surfaces. Manganese oxide has a brown appearance that can be used in paints.

Export market: The major export markets Manganese ore is China. Other buyers next to china include India, Hong Kong, Taiwan. Other minor buyers include South Africa, Germany and United state.

Export Price: Depending on the percentage purity of the manganese ore and the prevailing London metal exchange (lme.com) price, the FOB price of manganeses ore could vary from US150-USD300/MT.

Local price: Depending on the percentage purity of the manganese, the local market price at the loading point could vary from NGN15,000-NGN30,000/MT 

Payment Methods: Advance Payment

  1. Exporter and Importer sign the purchase contract
  2. Importer transfers funds to pay Exporter
  3. Exporter ships the goods to the Importer
  4. Exporter forwards shipping documents to the Importer

Payment Methods: Letter Of Credit (Confirmed, Sight)

Click on the graphic to enlarge.


















  1. Exporter and Importer sign the purchase contract
  2. Importer requests for Letter of credit (LC) and release funds to its Bank
  3. Importer’s Bank Issue LC and sends it to the Confirming Bank
  4. Confirming Bank adds its confirmation to the LC and forwards it to the Exporter’s Bank
  5. Exporter’s Bank advises the LC the Exporter
  6. Exporter ships the goods to the Importer
  7. Exporter forwards shipping documents to its Bank
  8. Exporter’s Bank forwards shipping documents to the Confirming Bank
  9. Confirming Bank transfers the funds to the Exporter’s Bank
  10. Exporter’s Bank pays the Exporter
  11. Confirming Bank forwards shipping documents to the Importer’s Bank
  12. Importer’s Bank release the shipping documents to the Importer
  13. Importer clears its goods using the shipping documents

Payment Methods: Letter Of Credit (Unconfirm, Sight)

Click on the graphic to enlarge.
  1. Exporter and Importer sign the purchase contract
  2. Importer requests for Letter of credit (LC) and release funds to its Bank
  3. Importer’s Bank Issue LC and sends it to the Exporter’s Bank
  4. Exporter’s Bank advises the LC the Exporter
  5. Exporter ships the goods to the Importer
  6. Exporter forwards shipping documents to its Bank
  7. Exporter’s Bank forwards shipping documents to the Importer’s Bank
  8. Importer’s Bank transfers the funds to the Exporter’s Bank
  9. Exporter’s Bank pays the Exporter
  10. Importer’s Bank release the shipping documents to the Importer
  11. Importer clears its goods using the shipping documents

Sunday, July 3, 2011

Payment Methods: Bill For Collection (Tenor, D/A)

Click on the graphic to enlarge.
  1. Exporter and Importer sign the purchase contract
  2. Exporter ships the goods to the Importer
  3. Exporter forwards shipping documents to its Bank
  4. Exporter’s Bank forwards shipping documents to the Importer’s Bank
  5. Importer’s Bank release the shipping documents to the Importer
  6. Importer clears its goods using the shipping documents
  7. Importer pay its Bank for the goods already cleared
  8. Importer’s Bank transfers the funds to the Exporter’s Bank
  9. Exporter’s Bank pays the Exporter

Friday, July 1, 2011

Payment Methods: Bill For Collection (Sight D/P)

Click on the graphic to enlarge.

















  1. Exporter and Importer sign the purchase contract
  2. Exporter ships the goods to the Importer
  3. Exporter forwards shipping documents to its Bank
  4. Exporter’s Bank forwards shipping documents to the Importer’s Bank
  5. Importer’s Bank release the shipping documents to the Importer
  6. Importer pays its Bank for the goods in exchange for documents received
  7. Importer’s Bank transfers the funds to the Exporter’s Bank
  8. Exporter’s Bank pays the Exporter
  9. Importer clears its goods using the shipping documents

Payment Methods: Open Account (Cash Against Document)

Click on graphic to enlarge










  1. Exporter and Importer sign the purchase contract
  2. Exporter ships the goods to the Importer
  3. Exporter forwards shipping documents to the Importer
  4. Importer transfers funds to pay Exporter