Britannia Mining, Inc. (OTC Pink: BMIN) (PINKSHEETS: 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 focussed 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."
About Britannia Mining
Britannia Mining is a natural resources development company that is focused on acquiring high quality mineral, mining and other commodity-based projects. The company is committed to developing revenues by conducting exploration, evaluation and trading activities. The company's mission is to secure commodities by developing immediate and near term product pipelines for iron ore and other natural resources.
The Company is targeting revenue producing assets and is currently in negotiations regarding joint venture, acquisitions and trading mineral stockpiles.
The company has been developing a high grade iron ore project in Malawi and is currently renewing the Exclusive Prospecting License (EPL) for iron ore over 650 sq. km at Nthale Blantyre. The company is targeting 100 Million Tons (MT) iron at Nthale Hill (20 sq. km).
Britannia Mining has inherited the legacy projects (Gold claims) of the former Micron Enviro Systems in the Yukon and plans to conduct sampling on this area.
For more information, please visit www.BritanniaMining.com
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SOURCE: Britannia Mining Inc.