Brazil Minerals mines largest rough diamond to date
Brazil Minerals (OTCBB: BMIX) mined a 4.01 carats diamond, it's largest to date.
The company said the gem has good appearance with the ability to yield high colour and clarity grades. The company plans to cut and polish the diamond before selling it.
Brazil Minerals is a U.S. publicly-traded company with current revenues from sales of rough and polished diamonds, gold, and sand.
Full news release is below.
Brazil Minerals, Inc. Reports Largest Rough Diamond & Expected Further Cash Flows From Sand Products
BELO HORIZONTE, BRAZIL–(Marketwired – Apr 6, 2015) – Brazil Minerals, Inc. (OTCBB: BMIX) (the "Company" or "BMIX") announced today that it had mined its largest rough diamond to date at 4.01 carats. This gem has very good appearance and no visible points or inclusions, and thus appears to be able to yield high color and clarity grades. The Company plans to have this rough diamond cut and polished before selling it.
Separately, BMIX announced that conversations are in advanced stages with potential partners regarding aggregate products derived from its high-quality, abundant sand. Aggregate sand products include materials used in construction, such as mortar. Sand is a consistent source of revenues for the Company and able to generate positive cash flows, primarily due to a combination of much lower operating costs and relatively strong demand.
In particular, these sand-based products are much less dependent on the use of diesel, which is the single largest cost in the Company's mining and processing of rough diamonds and gold. Over time, BMIX plans to substantially diminish diesel use in the plant processing for diamonds and gold by implementing several approaches.
About Brazil Minerals, Inc.
Brazil Minerals, Inc. (OTCBB: BMIX) is a U.S. publicly-traded company with current revenues from sales of rough and polished diamonds, gold, and sand. Our intention is to continue to grow and become a premier diversified and profitable company focused on Brazil. We believe that our team is our main strength. Our team combines over 100 years of Brazilian business expertise and American experience in finance, private equity and venture capital.
BMIX owns 100% of MDB, a Brazilian producer and seller of polished and rough diamonds, gold bars, and industrial-use sand. MDB operates a fully-operational mining concession with the largest alluvial processing plant for diamonds and gold in Latin America, and has the Brazilian permit to export its production.
BMIX also owns 25% of RST Recursos Minerais, Ltda. ("RST"), a Brazilian company with 10 mining concessions and 12 other mineral rights for diamond and gold. The RST areas are located near MDB's plant, in the Jequitinhonha River valley, a well-known area for diamonds and gold for over two centuries.
Our goal is to become an attractive and liquid alternative for investment in Brazil, the 6th largest global economy. More information on BMIX can be found at www.brazil-minerals.com.