Mabwe Minerals, a U.S.-based minerals company with operations through affiliates in Zimbabwe, has commenced barite and limestone production at Dodge Mine after receiving the appropriate certification and permits from The Environmental Management Agency (EMA). The company says that obtaining the EIA permit validates its presence as a viable foreign investment company in the mining sector.
Mabwe Minerals' mining and construction partner, WGB Kinsey & Company, is now on site building long-term infrastructure and shaping the open pit. Mabwe Minerals anticipates beginning barite and limestone production this month.
Barite revenue is expected this quarter as Mabwe Minerals begins staging qualification lots sorted by barite type for review by pending strategic partner, Steinbock Minerals, who specializes in the distribution of industrial minerals. Another pending strategic partner, Yasheya Limited, a company specialized in the shipment of industrial minerals, better positions Mabwe Minerals to meet multiple customer requirements in Europe and the Middle-East. Mabwe Minerals also anticipates meeting demand in the growing oil and gas drilling fluids sector demands off the coast of Mozambique and South Africa.
"The EIA represents the accumulation of 18 months of hard work on behalf of our shareholders, which has resulted in acquiring Dodge Mine and WGB Kinsey & Company ownership, as well as building key strategic partnerships with PHI Commodities, Steinbock Minerals and Yasheya," Al Pietrangelo, president and CEO, stated in the press release. "We are very pleased to inform our shareholders that Dodge Mine is open for business."
Mabwe Minerals is setting up a sales office at Dodge Mine and has established indigenous relationships in Zimbabwe to support demand from local buyers who use limestone for cement and as a fertilizer in agricultural applications.
Dean Harrison, Director of Mabwe Minerals Zimbabwe (Private) Limited, noted, "We have already qualified our limestone with one of the largest cement companies in the Harare District with growing demand for qualification samples for use in agricultural applications."
For more information on Mabwe Minerals, visit dtg.fm/MBMI-Presentation
Please see disclaimer on the QualityStocks website: disclaimer.qualitystocks.net
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.