Friday, May 25th, 2012 - Bracken International Mining
Highlights
• Secured $US200 million in sales through signed Letters of Intent to supply 60,000t per month manganese from Big George West Timor Mine;
• Agreement with logistics specialist Newsky Energy Investments Co Ltd;
• Opened two regional offices, in Jakarta and Qingdao China;
• Production scheduled for third quarter 2012;
• Negotiations for smelter construction.

Bracken International Mining is pleased to announce the Company has signed two Letters of Intent which will result in more than $US200 million in sales from its 100 per cent owned Big George West Timor Mine in Indonesia.
The sales mean the company will be in a cash positive position in the final quarter of this calendar year.
High ranking Chinese companies, Shandong Coking Coal and Sanit Corporation have signed Letters of Intent to each purchase 30,000t per month manganese from the Big George West Timor Mine to be exported through the nearby Kupang Port.
Production from the mine is scheduled to begin in the third quarter 2012 following the arrival of a new ship loader to the Kupang Port. Staff and equipment have already been mobilised to the mine site and SGS will conduct independent quality control on the manganese ore at a new laboratory to be located near the Kupang Port.
An agreement has also been signed with international logistics specialist Qingdao Newsky Energy Investments Co Ltd to manage imports.
In addition, development of the Company’s manganese smelter at Kupang is on track for construction to begin mid-2013. Bracken International Mining is currently in negotiations with construction companies for design and build.
On returning from a recent successful visit to China to formalise the agreements, Executive Chairman Luke Bracken commented:
“I am exceptionally excited about the latest developments for the company. We are entering a new phase where we will have solid cash flow and will be making a profit by the end of the year,” he said.
“To have two such highly regarded companies buying our ore is testament to the quality of our product and our ability to deliver on schedule.
“The Big George West Timor Mine is ready to produce and we are full steam ahead with the development and construction of our smelter at Kupang.”
Bracken International Mining has also opened two regional offices, in Jakarta, Indonesia, and Qindao, China.

ENDS

Enquiries:
Luke Bracken
Executive Chairman
Bracken International Mining
+61 459 484 062
[email protected]
www.brackenmining.com.au

Media Relations:
Kim Cox
Australian World Trade Network
+61 422 811 261
[email protected]
www.awtn.co


About Bracken International Mining
Bracken International Mining listed on the Deutsche Bo?rse’s Frankfurt Stock Exchange in October 2011. The Company has six mine licenses covering 8,208.6 hectares in West Timor, Indonesia, with combined reserves of more than 300 million tones.

The company has all mining approvals and full Government and community support. The Big George West Timor Mine is conveniently located just 35km from Kupang’s main export loading port and is strategically located to take full advantage of China’s growing demand for steel, of which manganese is an essential component.

Tests have confirmed the average manganese content is between 50% and 68%.

The Company also has a licence to build a refinement smelter, which will produce silicon and ferrous manganese end use products.

The West Timor mines have been producing ore in a limited capacity since early 2010, with trial exports of manganese shipped to customers in China. Bracken International Mining anticipates production of 250MT per month.

The company also has tungsten mining rights on Moa Island in Far North Queensland.

Forward Looking Statements:
This press release contains forward-looking statements, which express the current beliefs and expectations of the management of Bracken International Mining PLC. Such statements are based on current expectations and are subject to risks and uncertainties, many of which are beyond our control, and could cause future results, performance, and achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. Actual results could differ materially depending on a number of factors, and we caution investors not to place undue reliance on the forward-looking statements contained in this press release. These risks and uncertainties include, but are not limited to, economic conditions, the regulatory environment, loan concentrations, vendors, employees, technology, competition, and interest rates. Forward-looking statements speak only as of the date on which they are made and Bracken International Mining PLC undertakes no obligation to update these forward-looking statements, even if new information becomes available in the future.

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Bracken International Mining


Bracken International Mining listed on the Deutsche Borse’s Frankfurt Stock Exchange in October 2011. The Company has six mine licenses covering 8,208.6 hectares in West Timor, Indonesia, with combined reserves of more than 300 million tones.
Luke Bracken
P: 61 422811261
W: www.brackenmining.com.au

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Bracken International Mining Resources manganese ore

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