SAN DIEGO--(BUSINESS WIRE)--
LUSTROS, INC. (LSTS) Lustros Chile announced today that it had entered into a supply agreement with Minera Illapel to purchase ore with an estimated 1% soluble copper grade as well as Pregnant Leaching Solution (PLS), the material required for crystallization in the manufacturing of Copper Sulfate.
The ore purchased will be crushed to 0.25 inch pellets at our Sulfatos Chile crushing facility and transported to the leaching pads, where it is irrigated with a mixture of sulfuric acid and water to create a solution with a heavy concentration of copper, PLS. The PLS accumulates in large pools where it will concentrate for a short period before it is pumped into the company’s state-of-the-art crystallization plant and converted into Copper Sulfate Pentahydrate. The plant utilizes solvent by extraction technology to separate the copper from the liquid solution before it is purified and crystallized to very strict specifications.
Additionally, Lustros will purchase PLS directly from Minera Illapel which will allow the company to significantly increase output at the plant by bypassing the crushing and leaching portions of the process for a portion of our Copper Sulfate production. This supply agreement will allow the company to crush and process the maximum amount of ore permitted and, in addition, process the PLS purchased from Minera Illapel which will significantly enhance the output of copper sulfate.
Bill Farley, CEO and Chairman of Lustros, Inc., commented, “I am pleased that we have been able to secure the raw materials for our plant at competitive rates and at the same time have found a way to significantly increase production.”
A comprehensive list of uses for copper sulfate is available at: http://www.copper.org/applications/compounds/table_a.html.
About Lustros, Inc.
Lustros, Inc., through its Chilean subsidiaries, is in the business of manufacturing high-grade copper sulfate. Lustros has a majority equity position in Sulfatos Chile S.A., which owns the Anica Copper Mines as well as a copper sulfate production project and employs a highly experienced staff of mining professionals.
Safe Harbor Statement
This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.
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Trish Malone, CFO