Gold

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What It Is:

Gold ore is a naturally occurring rock or sediment that contains sufficient quantities of gold (Au) to make its extraction economically viable. It is mined from underground or open-pit sources and then processed to extract the gold metal.

gold solid mineral (1)

What Export of It Is:

The export of gold from Nigeria typically involves gold ore or gold dore bars. Exporters must meet stringent regulations due to the high value of the commodity and its association with global financial systems. Exports may be raw ore (for foreign refining) or semi-refined gold bars.

Product Description:

  • Form:

    • Gold Ore (rock form with visible or microscopic gold)

    • Gold Concentrates (after initial beneficiation)

    • Gold Dore Bars (semi-refined gold typically 22K–24K)

  • Color: Varies; gold ore often looks like quartz with visible gold specks, or brown/grey rock

  • Purity:

    • Dore bars: 85%–96% gold content

    • Refined gold: 99.9% (in overseas refineries)

  • Ore Content: Typically varies from 0.5g/ton to over 20g/ton

Export Form:

  • Gold Ore: Raw or crushed form (0–100 mm)

  • Gold Concentrate: More concentrated via flotation/gravity separation

  • Gold Dore Bars: Melted semi-pure gold suitable for further refining

Uses:

  • Jewelry – Major use globally (up to 50% of total gold demand)

  • Electronics – Used in connectors, circuit boards, semiconductors

  • Finance – Stored as reserves by central banks; gold bars and coins

  • Dentistry & Medicine – In implants and treatment

  • Aerospace – Due to non-corrosive and conductive nature

Packaging for Export:

  • Gold Ore & Concentrate:

    • Heavy-duty sacks or drums (25kg, 50kg, 1-ton jumbo bags)

    • Palletized and containerized for shipping

  • Gold Dore Bars:

    • Vacuum-sealed, tamper-proof containers

    • Documented with full assay and chain of custody

Main Export Markets:

  • UAE (Dubai) – Major global gold trading hub

  • Switzerland – World’s largest gold refinery base

  • India – Jewelry and investment

  • China & Hong Kong – Industry and bullion

  • Turkey & UK – Bullion, jewelry, investment

Export HS Code:

  • 7108.12.00.00 – Gold in semi-manufactured forms (Dore Bars)

  • 7108.13.00.00 – Gold in powder form

  • 2616.90.00.00 – Other precious metal ores and concentrates (Gold ore)

Required Export Documentation in Nigeria:gold solid mineral

  • Export License (Solid Minerals) – From the Federal Ministry of Mines & Steel Development

  • Permit from Nigerian Export Promotion Council (NEPC)

  • Evidence of Clean Source (Chain of Custody)

  • Assay Certificate (Gold purity and content)

  • Certificate of Origin

  • Bill of Lading

  • Packing List & Invoice

  • CBN Gold Export Guidelines compliance

Export Potential:

  • Global gold demand remains strong, especially for central bank reserves and luxury markets

  • Nigeria has significant gold reserves in Zamfara, Kebbi, Niger, Osun, Kogi, and Kaduna

  • Artisanal mining offers local sourcing opportunities, though formalization is critical

  • High value-to-weight ratio makes gold a prime target for international trade

Key Considerations for Exporters:

  • Work only with licensed miners and buyers

  • Use certified laboratories for proper assay

  • Comply with anti-money laundering and mineral traceability rules

  • Ensure export proceeds are repatriated through authorized channels

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