Positive Test Results From SGS Substantiate Britannia's $100 Million Distribution Deal
1.2 Million Metric Tons of Ready Mined Iron Ore Now Validated by Leading Global Inspection Company for Use; Britannia Set to Bring Supply to Steelmakers
NEW YORK, NY--(Marketwired - Jun 18, 2014) - Britannia Mining, Inc. (
"As there are few ores that can be added directly into a blast furnace for steel making," said Kenneth Roberts, CEO of Britannia Mining, "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."
"Between the two Malaysian 'ready mined' deals secured in March, Britannia now has 1.2 million metric tons (Mt) ready for distribution on a yearly basis. With opportunities increasing, these results could not have come at a better time."
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 4 th 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.
Mr. Roberts continued, "If we combine our new distribution opportunity with carbon reducing strategies and the capability of new technologies, we will be able to better assist those iron ore producers in moving towards adding value. This in turn, increasing efficiency and delivering social and environmental responsibility. Our upside here is tremendous."
Roberts concluded "With the opportunity to export imminent, coupled with longer term onshore processing initiatives, the opportunity in Malaysia could realize more than our initial expectations."
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About SGS
SGS ( http://www.sgs.com/ or http://www.sgsgroup.us.com/ ) is the world's leading inspection, verification, testing and certification company. Established in 1878, SGS is recognized as the global benchmark for quality and integrity having transformed grain trading in Europe by offering innovative agricultural inspection services. The Company was registered in Geneva as Société Générale de Surveillance in 1919.
With more than 80,000 employees and a network of more than 1,650 offices and laboratories around the world, SGS consists of ten business segments operating across ten geographical regions. Their core services can be divided into four categories (i) Inspection, (ii) Testing, (iii) Certification, and, (iv) Verification.
About Britannia Mining
Britannia Mining is a natural resources development company that is focused on acquiring high quality mineral, mining and other commodity based projects. The company is committed to developing revenues by conducting exploration, evaluation and trading activities. The company's mission is to secure commodities by developing immediate and near term product pipelines for iron ore and other natural resources.
Acquisition Focus
The company is targeting revenue producing assets and is currently in negotiations regarding acquisition and trading of mineral stockpiles.
Exploration Focus
The company has been developing a high grade iron ore project in Malawi and is currently renewing the Exclusive Prospecting License (EPL) for iron ore over 650 sq km at Nthale Blantyre. The company is targeting 100 Million Tons (MT) iron at Nthale Hill (20 sq km).
Britannia Mining has inherited the legacy projects (Gold claims) of the former Micron Enviro Systems in the Yukon and plans to conduct sampling on this area.
For more information, please visit www.BritanniaMining.com .
Safe Harbor
This news release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may,'' "should,'' "expects,'' "plans,'' "anticipates,'' "believes,'' "estimates,'' "predicts,'' "potential'' or "continue'' or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results. Readers are referred to the sections entitled "Risk Factors'' in the Company's periodic filings with the United States Securities and Exchange Commission, which can be viewed at http://www.SEC.gov . For all details regarding working interests in all of BMIN's mining prospects or any previous news releases go to OTC Markets website. You should independently investigate and fully understand all risks before making investment decisions.
Contact information
Team BMIN
(646) 580-1153
www.britanniamining.com
