Mabwe Minerals Inc. (MBMI) Takes Off With Dodge Mine
Mabwe Minerals, a subsidiary of Raptor Resources Holdings, is a fully reporting natural resources and hard asset company engaged in the mining and commercial sale of industrial minerals and metals, currently scaling up production operations for barite at the company's Dodge Mine project in Zimbabwe, Africa.
The company's Dodge Mine emphasis is based upon analysis and reports from Associated Consultants in Africa (ASCON AFRICA), a consulting firm based in Harare, Zimbabwe. Mabwe hired the company to perform a Dodge Mine Validation Study to substantiate the barite and limestone reserves prior to going forward with mining.
Based upon the ASCON report, 411,000 tons of barite, and 531,000 tons of limestone were authenticated. At current prices, the report suggests a market value of over $70 million, although the focus of the study was Dodge Hill #1, which represents only about 7% of the entire surface area of Dodge Mine. The report, though limited in scope, gives an idea of the site's full potential.
The company has now begun production operations, after establishing a variety of contacts and partnerships to ensure cost effective and dependable support for all aspects of associated mining and shipping operations. WGB Kinsey & Company is managing the overall project, and Steinbock Minerals, in conjunction with Yasheya Ltd, will oversee mineral distribution and shipment. Revenue is expected this quarter, and Mabwe has already secured a long-term Master Supplier Agreement with Baker Hughes, one of the world's largest oilfield services companies. The agreement represents a total of 3 million tons of barite to be delivered at 220,000 tons per year. At current prices, it represents hundreds of millions of dollars over a 13-year period.
For more information on Mabwe Minerals, visit dtg.fm/MBMI-Presentation
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