Malaysia Proves Opportune for Britannia; Management Has Now Secured A Total of Over $100 Million In Ready Mined Distribution Arrangements
Britannia Mining Inc. announces that CEO, Kenneth Roberts, has successfully secured a Memorandum of Understanding (MOU) with a second iron ore producer, located in East Malaysia, to distribute 600,000 metric tons (Mt) of ready mined iron ore each year for a minimum of 5 years.
“We have now positioned Britannia for more sustainable revenue and growth opportunities, by securing high grade ready mined iron ore supply from not one, but two, independent natural resource mineral producers,” stated Kenneth Roberts, CEO of Britannia Mining. “This additional supplier will inject Britannia with another stream of ongoing iron ore that will contribute to the company’s monthly revenue. With these strategic relationships, we should be able to continue securing product throughout the country and substantially increasing our supply chain.”
Management previously announced that the company had been courting relationships in both Asia & Spain, looking to expand their development and distribution of ready mined resources with a look to ramp up the metals division. Executives indicate that this trip has yielded far more value than expected; by way of two iron ore stockpile arrangements that total in excess of $100 Million Dollars, along with the possibilities of establishing a division specific to the distribution of agricultural resources – such as Palm Kernal, Rubber, Industrial Hemp and other feedstocks.
Mr. Roberts continued, “Our Malaysian liaison has assisted us greatly in creating inroads with producers of ready mined minerals and agricultural product. As previously mentioned however, our focus will remain on ready mined iron ore, as it is a bountiful resource in Malaysia and currently accessible.”
“As we prepare to visit our Spain prospects, we are very confident, we will have the ability to finalize definitive agreements with both Malaysian iron ore suppliers within the next few weeks. This will begin an immediate yearly distribution of 1.2 million metric tons of ready mined iron ore product; generating near term revenue for Britannia,” concluded Roberts.
- 20 Mar, 2014
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