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Mabwe Minerals Inc. (MBMI) – A Recap Of 2013 Achievements

Jan. 02, 2014 10:59 AM ETMBMI
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The year 2013 was pivotal for Mabwe Minerals, a company focused on the logistics, mining and commercial sale of barite and other minerals in Zimbabwe. The company's primary operations are at Dodge Mine where hydrothermal barite deposits represent one of the highest grades of new barite sources moving into commercial production in recent years.

In April, MBMI completed its strategic restructuring plan, allowing for increased shareholder value and a clean balance sheet, and then got to work seeking-out partnerships that would further enhance its progress.

Entering into the summer months, MBMI in July began to see the fruits of its efforts, initiating a partnership with long-standing industry players, Steinbock Minerals Ltd. and Yasheya Ltd. The design of these two business partnerships was to position MBMI as a key player in the barite marketplace and to provide supporting services.

The same month, MBMI received its Environmental Impact Assessment Certificate, clearing the way for partner WGB Kinsey to commence operations at the Dodge Mine project.

Through its previously established partnership with PHI Commodities, MBMI secured exclusive load rights from the Shamva Rail Depot direct to the Port of Beria utilizing their fleet of rail wagons. By August, MBMI had secured its alliances with Steinbock Minerals, a worldwide distributor of industrial minerals and key global distributor of barite; and Yasheya, an experienced logistics management company supported by state-of-the-art Web-based freight supervision software and worldwide leader in the international transportation of industrial minerals. Backed by these partnerships, MBMI had successfully established a strong distribution, sales, shipment and delivery network.

Focusing on enhancing its marketing, communication and transparency, MBMI in October launched a new company website and released its first online video chronologically tracking the developments at Dodge Mine. The company also released the first edition of its MabweMessage Newsletter.

November was a game changer as MBMI's Zimbabwe affiliate received its first purchase order from Steinbock Minerals for 2,000 tons of barite. In mid-December, MBMI received its second purchase order, for 10,000 metric tons, bringing the total tonnage purchased in the fourth quarter to 12,000 metric tons, exceeding earlier estimates.

Moving into 2014, MBMI plans to benefit from its growing customer base and increasing global demand for barite. In a recent letter to shareholders, MBMI said that in 2014 it plans to finalize its Dodge Mine barite product specification sheets; initiate log qualification processes and procedures to support volume orders; the commencement of small lot shipments to multiple customers; increasing shipments; as well as other company goals.

For more information, visit mabweminerals.com

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