Brazil Minerals Inc.'s New Modular Plant Begins Operations
Brazil Minerals is now planning for its second modular gold and diamond recovery plant, which will have several improvements over the currently operational first plant, including being built (or partially built) atop a chassis to facilitate transport and placement at desirable mining locations. A second industrial-size centrifuge will be acquired for this new plant. This development was partially made possible by a long-term equity investor in the Company purchasing common shares of Brazil Minerals and of Jupiter Gold Corporation, a subsidiary of the Company.
In other news, a crew from the Brazilian mining department inspected one of the Company's gold and diamond areas on February 18, 2017, with respect to an application for a mining permit for gold and diamond which Brazil Minerals had filed and paid for a year earlier in February of 2016. This type of visit is mandatory. Brazil Minerals believes that the inspection went well and, thus, it expects approval of such mining permit within the next few months. This mineral rights area has a surface size of 982 acres, and is located 11 miles from where the first plant is operating. It would be a third gold and diamond mineral area where the Company would be able to employ a portable recovery plant.
About Brazil Minerals, Inc.
Brazil Minerals, Inc. is a producer of diamonds, gold, sand, and industrialized mortar. Through various subsidiaries, consolidated in our financial statements, we have title to 38 mineral rights for gold, diamonds, manganese and sand, including 10 mining concessions for gold and diamonds, the highest level of right to mine in Brazil; the total surface area of these mineral rights is 218,525 acres, or 440 square miles. More information on BMIX is available at www.brazil-minerals.com.
Safe Harbor Statement
This press release contains forward-looking statements made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are based upon the current plans, estimates and projections of Brazil Minerals, Inc.'s management and are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of production, reserves, sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Brazil, as well as all assumptions, expectations, predictions, intentions, or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: business conditions in Brazil, general economic conditions, geopolitical events and regulatory changes, availability of capital, BMIX's ability to maintain its competitive position and dependence on key management. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
Peter K. Goldy, Director of Communications
Brazil Minerals, Inc.