Britannia Mining to Advance CEAR Transportation & Cargo Services Agreement
November 07 2013 - 8:33AM
Marketwired
Britannia Mining to Advance CEAR Transportation & Cargo
Services Agreement
Formalizing Existing MOU Britannia Set to Further Develop USD
$80 Million Logistics Arrangement
NEW YORK, NY--(Marketwired - Nov 7, 2013) - Britannia Mining,
Inc. (BMIN or the Company) (OTC Pink: BMIN), the successor of a
merger between UK based mining development company Britannia Mining
Plc and U.S. based Micron Enviro Systems (Former Symbol: MSVS),
announced today that the Company has begun taking steps to advance
its MOU with Central East African Railways (CEAR) initially
securing rail transportation and bulk cargo services for 720,000MT
of Britannia's proposed Iron Ore extractions.
"It is extremely fortunate that our Nthale iron ore project is
positioned 3Km (1.86 miles) from CEAR's rail lines," stated Kenneth
Roberts, CEO of Britannia Mining. "Logistics is one of the biggest
factors to consider in the mining sector. Without existing
infrastructure, the movement of mineral products can become an
extremely costly endeavor. Many companies need to assign
millions of dollars to transportation feasibility. Britannia's
strategy is ready and in position to move cargo from mine site to
transportation lines, to distribution hubs and ports. This
railway is quite literally in our backyard."
The Company anticipates developing its MOU, which currently
affords Britannia an approximate annual hauling value of USD $80 -
$100 million, transposing the understanding between the two
companies, into a full and commercial agreement. Management
expects the internal logistics of CEAR to increase significantly
over the next year. This process is expected to further
increase Britannia's ability to transport even greater volumes of
iron ore, increasing its anticipated revenues.
"The most pertinent aspect of this railway is its route through
Malawi to its eventual Indian ocean destination," continued
Roberts. "This rail line runs straight through our project to
Nacala -- a natural deep water port. In consideration of
Britannia developing its mining operation, the commercial strategy
set forth by this management team to supply both local and
international markets, coupled with the positioning of our primary
ore body (Nthale Hill being the first target identified to date),
provides us with a strategic and fundamental framework to develop
significant income streams."
The entire logistics from freight loading to port storage takes
approximately 18 hours. Britannia's ore will then be loaded
onto cargo ships and delivered to its continuously expanding
worldwide distribution outlets.
Roberts concluded, "We strongly believe that as the country of
Malawi and the operations of CEAR continue to develop economically,
having formalized the logistics agreement with the regional rail
operator, will help us to build significant value and greater
prosperity for Britannia and its shareholders for many years to
come."
About Britannia
Mining Britannia Mining is an explorer and developer of
mining projects targeting 100 Million Tons (MT) iron at the Nthale
project. The company is developing a high grade iron ore project in
Malawi and holds an Exclusive Prospecting License (EPL) for iron
ore over 650 sq km at Nthale, Blantyre. From magnetic imaging
studies that have been completed over 20 sq km, the company has
located a number of ore bodies that indicate this area alone could
yield upwards of 40 million tons iron ore. The company intends to
mobilize a drilling program at Nthale Hill where upon completion
and approval by a competent person, the data will provide a
resource definition at this area.
Britannia Mining has also inherited the legacy projects
(properties, claims, etc) of the former Micron Enviro Systems and
now has added to its diversified portfolio a number of gold claims,
leases and permits in the Yukon.
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
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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