Britannia Mining, Inc. (OTC Pink: BMIN) (“Britannia” or the “Company”), a UK based mining development Company, announced today, that Britannia has strategically aligned with South African facilitation partners; securing Swiss buyers for its Malaysian “ready mined” stockpiles.
“We have secured distinct buyers for our supply of Malaysian iron ore,” stated Kenneth Roberts, CEO of Britannia Mining. “Together with our partners, we have successfully facilitated a commitment from a Swiss buying group with whom Britannia has made significant progress in closing out the initial transaction.”
The parties have been working diligently to thrash out elements of the multi-million dollar trading contract. Discussions have included hammering out price, quality control, payment structures, shipping logistics and export protocols with port authorities. Management indicated that the Swiss organization is part of a trading group focused on providing a complete range of services to the steel and raw materials industries. As a procurer of iron ore for end manufacturers, the group has a network of offices that spans Hong Kong, South America, and France.
Mr. Roberts concluded, “Completing this trade will be a substantial win for Britannia. Not only because it solidifies the revenue stream stemming from our iron ore stockpiles, but because it establishes a viable framework for ongoing and future trades. This will reduce the commercial lead time for subsequent shipments and expedite transactions expected to close with our other buyers.”
- 7 Aug, 2014
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