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  • Mabwe Minerals Inc. (MBMI) Prepares To Meet Demand For Barite 0 comments
    Jul 23, 2013 2:49 PM | about stocks: MBMI

    U.S.-based Mabwe Minerals operates through its Zimbabwe affiliate, Mabwe Corp. Ltd., as a natural resources and hard asset company focused on the mining, logistics, and commercial sales of industrial minerals and metals with a primary focus on barite.

    Barite is a weighting agent for drilling fluids in oil and gas drilling operations. The mineral also has applications in the medical, paint, and automotive arenas. As Mabwe moves from a development phase company into a commercial producer of barite production, the company aims to benefit from the recent discovery of oil off the coast of neighboring Mozambique and the subsequent new drilling contracts and barite demand in the region.

    The Environmental Management Agency (NYSEMKT:EMA) earlier this month completed certification of Mabwe's Dodge Mine and issued the required permit for the company to immediately begin mining operations. Mabwe's mining and construction partner, WGB Kinsey & Company, is now on site to build long-term infrastructure and shaping the open pit.

    Mabwe reports that it expects to generate barite revenue this quarter as the company begins staging qualification lots sorted by barite type, which will then be reviewed by Steinbock Minerals, Mabwe's pending strategic partner that specializes in the distribution of industrial minerals.

    In addition to preparations to support the growing oil and gas drilling fluids sector demands off the coast of Mozambique and South Africa, Mabwe anticipates supporting customer requirements in Europe and the Middle East by leveraging the expertise of another pending strategic partner, Yasheya Limited, who specializes in the shipment of industrial minerals.

    For more information visit Mabwe parent company, Raptor Resources Holdings at raptorresourcesholdings.com

    Please see disclaimer on the QualityStocks website: disclaimer.qualitystocks.net

    Stocks: MBMI
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