PASADENA, Calif., May 31, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Brazil Minerals, Inc. (OTC: BMIX) (the "Company" or "Brazil Minerals") announced today that it has obtained the rights to an iron project area with 4,120 acres in the “Quadrilátero Ferrífero” (Iron Quadrangle), one of the premier iron regions in the world with multiple operating mines. Iron ore is in high demand with strong sales of Brazilian iron ore for export (mainly to China) or for use by local steelmakers. Recently, the price of iron delivered at a foreign port spiked to US$109 per ton, the highest since 2013.
Brazil Minerals’ claim holds potential for several reasons, including its location in proximity to one of the initial iron mines from Vale S.A., the world’s largest producer of iron. The local geology shows possible secondary deposits, i.e., occurrences of eluvial/colluvial iron mineralization with potential for lump ore production. This type of product is aimed at the domestic market and, in general, presents a combination of low production cost and relatively high margins, when compared with iron production for export.
As part of the agreement in which Brazil Minerals was advised, at no initial cost, regarding this iron opportunity by a local private enterprise, the Company will evaluate innovative technology solutions initially developed by this enterprise which are aimed at minimizing the environmental disturbances of an iron mine. These solutions center on processing without water and enabling smaller scale operations to increase profitability and product quality. Refinements may be co-developed during this technology partnership.
As soon as it is feasible, Brazil Minerals plans to proceed with geological studies of the area to ascertain various aspects of the mineral right, including quantification of mineralization and reserve potential.
About Brazil Minerals, Inc.
Brazil Minerals, Inc. (OTC: BMIX) along with its subsidiaries has a business model focused on: 1) mining specific areas for gold and diamonds, and 2) generating projects from its portfolio of high-quality mineral rights for transactions leading to royalties and/or equity positions. The first equity holdings from such strategy is a 49% ownership in Jupiter Gold Corporation (OTC: JUPGF). More information on Brazil Minerals is at www.brazil-minerals.com. More information on Jupiter Gold is at www.jupitergoldcorp.com.
Safe Harbor Statement
This press release contains forward-looking statements made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward looking statements are based upon the current plans, estimates and projections of Brazil Minerals, Inc.'s management and are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of production, reserves, sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Brazil, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: business conditions in Brazil, general economic conditions, geopolitical events and regulatory changes, availability of capital, Brazil Minerals, Inc.’s ability to maintain its competitive position and dependence on key management. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. We advise U.S. investors that Brazil Minerals’ (and its subsidiaries’) properties and projects, as of now, are exploratory and do not have measured “reserves” as such term is defined by the Securities and Exchange Commission.
Contact:
Marc Fogassa, CEO
Brazil Minerals, Inc.
info@brazil-minerals.com
www.brazil-minerals.com
@BMIXstock