30/06/2024
Why are you not in the Mining Industry in Plateau state??
Fun Fact: it is rumoured that the most expensive house in Jos is owned by a Miner.
Let me explain something to you.
There are basically 4 important people in the value chain of mining Tin in Plateau state.
First, the extractors - they are peasant villagers who extract the tin from the earth's crust.
Second, the overseers - these sets of people go down the rigs of the extractors and buy their tin.
Third, the baggers - these guys have hundreds of millions to buy from as many overseers as possible.
Fourth, the Chinese - these are the last buyers. They spend billions to buy in tonnes and then export abroad.
Do you know how much of Tin is traded daily in Plateau state? Hundreds of millions.
Ignore being the extractor.
Now imagine being an Overseer,
You can start with as low as β¦250,000
This amount can get you 10kilos of Tin from the extractors. You will visit a bagger and sell for β¦260,000 and make β¦10,000 profit.
Now, you can buy 10kilos everyday or every two days - depending on how fast you go sell and return to buy again. So, you can even buy more than twice a day.
Let's assume you make β¦10,000 daily. You will make β¦60,000 a week, β¦240,000 a month. Remember, your capital of β¦250,000 will still be intact.
Let's assume you're buoyant enough and invest β¦2,500,000 to pick 100kilos daily (or twice a week). You will make around β¦2.4million a month in profits.
The major risk involved in this business is the fluctuations in the price of tin in the global market, that readily affects the price of the tin from the extractors. But these fluctuations can only reduce your profit or increase it but not plunge you to losses.
Also, you need the basic knowledge and equipment to identify a good Tin from a bad one, a pure one and one mixed with iron, etc. without this requisite knowledge, you'll lose as you go.
My vivid explanation above is basically the wealth that is in Tin mining, do you know Plateau has 15+ other solid minerals that aren't tapped yet? It will also interest you to know that the entire Tin that is being explored in Plateau today is probably less than 5% of the Tin deposited naturally under Plateau state. This means, the next 100 years, Tin will still be mined in Plateau state.
What you need to start? Money and Basic "dos and donts" from someone in it already.
So,
Why aren't you tapping into the multi billion dollar mining industry in Plateau state?
Very soon , I will add "mining enthusiast" on my profile
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