Barite is a
commercial mineral primarily used as a weighting agent for the oil and gas
industry. In this use, barite “mud” is pumped into oil wells where the weight
of the crushed barite/water/other materials flushes rocks chips away from the
drilling head to prevent the explosive release of the oil and gas from the
ground. More than 75 percent of barite consumption in the U.S. is used for this
drilling application.
Mabwe Minerals, a
publicly traded Raptor Resources Holdings (OTCQB: RRHI) subsidiary, seeks to
meet its portion of barite demand as oil and gas production continues to
flourish worldwide. The company is engaged in the logistics, mining and
commercialization of barite and other minerals in Zimbabwe, Africa, and has
full ownership of the mineral and metals rights for its primary operation, the
Dodge Mine, which sits on a hydrothermal mountain range in Zimbabwe known for
its abundance of superior barite deposits.
Mabwe Minerals in
2013 secured a 3 million-ton long-term master supply agreement for API grade
barite with Baker Hughes, Inc. (BHI). To maximize production efficiency and
meet terms of the agreement, Mabwe Minerals has formed several strategic
partnerships with industry players that have developed customized equipment to
capture, distribute, and transport a large share of salvageable bright-white,
off-white, chemical, and API-grade barite.
In November 2013,
Mabwe Mineral’s Zimbabwe affiliate received its first purchase order totaling
2,000 tons of barite. A month later, the affiliate received a second purchase
order, for 10,000 metric tons, bringing the total tonnage purchased in the
fourth quarter to 12,000 metric tons, exceeding earlier estimates.
Moving through the
first quarter of 2014, Mabwe Minerals is focused on seeking out opportunities
to benefit from its growing customer base and increasing global demand for
barite, and has stated its intentions to finalize its Dodge Mine barite product
specification sheets; initiate log qualification processes and procedures to
support volume orders; commence small lot shipments to multiple customers; and
increase shipments.
For more information
about Mabwe Minerals and the Dodge Mine project, visit www.mabweminerals.com
About QualityStocks
QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. We offer several ways for investors to find, evaluate, and learn more about investing in these companies.
QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. We offer several ways for investors to find, evaluate, and learn more about investing in these companies.
Sign up for “The QualityStocks Daily Newsletter” at www.QualityStocks.net
The Quality Stocks Daily Blog http://blog.qualitystocks.net
The Quality Stocks Daily Videos http://videocharts.qualitystocks.net
The Quality Stocks “Ones to Watch” http://gotstocks.qualitystocks.net
Please see disclaimer on the QualityStocks website: http://disclaimer.qualitystocks.net
No comments:
Post a Comment