Mica Mining in Nigeria Explained: Deposits, Uses and Value
16 October 2026 - Naira BriefingMica is a shiny, flaky mineral used in cosmetics, paint, electronics and insulation. Nigeria has mica deposits worked by artisanal miners, and processed mica earns dollars, linking it to our commodity prices.
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How it works
- Mining — mica extracted from deposits.
- Processing — split, graded and cleaned by end use.
- Export — sold to industry, priced in dollars.
Why the dollar matters
Prices are set globally in dollars, so a producer’s naira earnings move with the price and the exchange rate — the same economics as talc and kaolin. Value-added processing keeps more of that value at home.
Exporting mica and converting proceeds? Message us — we settle dollar earnings to naira at a market-based rate.
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