Although the historic world market for gold, silver, and many other minerals has at times been weak, and almost always volatile, the market for barite continues to hold up well. Barite is playing a key role for Raptor Resources. Through the company’s subsidiary, Mabwe Minerals, Raptor is rapidly developing what has been described by outside consultants as a world-class barite deposit, based on the verified volume and quality of deposits.
The rich deposit is at the company’s Dodge Mine project in Zimbabwe, southern Africa, and fast-track mining operations are already under way at the site. Based on recent ASCON validation studies of just one part of the Dodge Mine property, 411,000 tons of barite and 531,000 tons of limestone have been confirmed. Raptor and Mabwe have enlisted the resources of several well-established partners in the region to maximize cost effectiveness. In addition, the company already has a major buyer for barite output, looking for a total of 3 million metric tons of barite over the next 13.5 years, valued at hundreds of millions of dollars. Initial revenue from the operations are expected this quarter.
One of the reasons for barite’s solid market presence is the mineral’s practical value. Barite’s primary application is in the oil and gas industry, where it is used as a weighting agent for drilling fluids to reduce pressure buildup and prevent blowouts or collapse. It’s also used in paints, plastics, and ceramics, and in the medical industry. Although the oil and gas industry itself has ups and downs, as long as people drill for fossil fuels, there is a major global market for barite.
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