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Brazil Minerals Receives $200,000 Contract for Sale of Sand
Dec. 04, 2014 08:43AM PST
Gem InvestingBrazil Minerals Inc. (OTCQB:BMIX) announced that it has received a written contract for the sale of sand from its Duas Barras mine in Brazil.
Brazil Minerals Inc. (OTCQB:BMIX) announced that it has received a written contract for the sale of sand from its Duas Barras mine in Brazil. Sand, a by-product of the processing of diamonds and gold, is used by the construction industry for cement preparation and other uses.
As quoted in the press release:
BMIX sees this initial sales contract as an indication of the potential to capitalize on a scarce resource that it has in abundance.
BMIX has recently tested its unprocessed sand, in natura, at the SGS-Geosol analytical laboratory. The results demonstrated silica levels of 97%, indicating high quality and meeting criteria for use in a wide range of applications.
BMIX is now studying volumetric analysis of the total amount of sand it has. The Company believes that the contract received and announced today would cover only a very small fraction of the amount of sand currently available.
Marc Fogassa, CEO and chairman of Brazil Minerals, stated,
Our goal is to increase cash flows to fund operations. Sand has virtually no additional cost to us. It provides revenue diversification from diamonds and gold and predictability as it is sitting in piles or in bays and ready for transport. We are excited about exploring the potential of this mineral to add value to us.
Click here to read the Brazil Minerals Inc. (OTCQB: BMIX) press release.