Mabwe Minerals Inc., a subsidiary of Raptor Resources Holdings Inc. (RRHI), is a U.S. based natural resources company, currently focused on the development of barite deposits in Zimbabwe, southern Africa, through its Zimbabwe affiliate, Mabwe Mineral Zimbabwe (Private) Limited. Barite (barium sulfate) is used primarily in the oil industry as a weighting agent in special muds that are circulated into and out of drill holes to remove the cuttings.
With its affiliate, the company owns 100% of the mineral and metal rights to the Dodge Mine property in northeast Zimbabwe, which consists of three hydrothermal mountains covering approximately 303 acres, containing multiple deposits of superior-grade barite, limestone, and talc. Hydrothermal barite deposits throughout Dodge Mine represent the highest grade of new barite sources to be brought into commercial production in years. A third party oil and gas drilling sector geologist recently confirmed that the multiple barite deposits are considered “World Class” in quality and highly efficient to mine via open pit extraction following the barite veins and salvaging large percentages of barite within the halo zones via jigging systems.
The mine will be managed by the company’s minority owned partner, WGB Kinsey & Company, Zimbabwe’s most experienced mining and construction company. Management believes WGB Kinsey & Company has all the necessary equipment and management experience to efficiently perform all the mining operations at Dodge Mine.
With a continuing worldwide shortage of high-grade barite, Mabwe Minerals is in the right place at the right time. The company’s current customer uses barite as a weighting agent in oil and gas drilling applications in the Gulf of Mexico, home to the largest concentration of active rigs in the world. Coupled with the recent massive discovery of oil and gas off the coast of neighboring Mozambique, along with new drilling contracts expected in the region, MBMI is in an attractive geographical location to capture the expected demands of this emerging market. Moving from an exploration stage company into commercial barite production, Mabwe Minerals is well positioned to generate significant shareholder returns. The company’s fundamentals are well positioned, with virtually no debt and with key strategic partnerships in place.
For more information, visit www.RaptorResourcesHoldings.com
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