Britannia Mining, Inc. (OTC Pink:BMIN) has announced that inspection, verification, testing and certification company SGS has tested samples of Brittania’s Malaysian ready mined iron ore stockpiles. The results were positive, substantiating Brittania’s strategy to supply steelmakers.
As quoted in the press release:
Having to first wait for the test results to determine the grade and viable uses for the iron ore, Britannia is now well positioned to begin generating near term revenues. With two 6,000,000 metric ton distribution deals in place spanning mines in both East and Western Malaysia, the Company has the ability to distribute 100,000 Mt of ready mined iron ore, per month, for the next 10 years. Likely to begin distribution in the 4th QT; due to the results of SGS chemical analysis, Britannia has been able to prospect and identify at least 10 additional suppliers who had not been considered prior to the SGS results.
Brittania Mining CEO, Kenneth Roberts, said:
As there are few ores that can be added directly into a blast furnace for steel making, these results have not only validated our immediate iron ore supply, but also opened up additional revenue opportunities; namely increased product supply and value adding R&D potential.