Britannia Mining Plc, a UK based mining development company announced today that management intends to diversify its product supply to satisfy demand from its customer base – possibly leveraging the assistance of strategic U.S. partners.
Britannia Mining has indicated that the company’s intention is to develop its existing gold trading activities to encapsulate management’s expertise in developing world class mining assets for short, medium and long term cash flows. Leveraging management’s experience and capital resources, the company will move to secure operational mines and exploration gold assets to deliver on the company’s strategy to become a more diversified miner.
President and CEO Kenneth Roberts said, “Venturing into the gold mining arena has been something that we have considered for some time in light of our gold trading business. The next natural step for Britannia is to optimize value at the start of the supply chain to deliver increased value to our shareholders”
With the company’s developing iron ore project at Nthale Hill in Malawi, responsibly expanding mining operations means, Britannia strategically aligning itself with appropriate gold mining/exploration companies. Management indicates they have identified a favourable prospect in the United States and will likely pursue this option rather aggressively.
Kenneth indicated Britannia has the full backing of its investors, concluding, “A U.S. partner will serve two purposes. The first would afford Britannia the ability to broaden its current investor base. And given recent and very positive international developments in political relations with Malawi, the other [purpose] would strengthen our cause to develop the 650 sq km of property in Malawi we’ve acquired the rights to.”
Management expects that a U.S. based public company is the more probable candidate for its strategic partnership.
- 16 Jul, 2012
- Sindy Foster
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