PASADENA, Calif., March 25, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Brazil Minerals, Inc. (BMIX) (the "Company" or "Brazil Minerals") announced today that it had been granted by the local mining authority the Exploration Permit for its nickel, cobalt and copper project that encompasses two mineral rights in an area of approximately 5,000 acres in the state of Goiás, Brazil. The Company’s project is in a well-known area for lateritic nickel deposits, with the potential for associated cobalt and copper. Goiás is home to 98% of Brazil’s cobalt reserves as determined by the local mining department.
Marc Fogassa, CEO of the Company, commented, “Today’s announcement is an important milestone in enabling Brazil Minerals to advance this potentially high-return project. Goiás has an extremely rich geology; in fact, our affiliated company Jupiter Gold (JUPGF) has a gold area elsewhere in this state.”
Cobalt is used in rechargeable batteries (with high growth in demand fueled by the electric vehicle industry) and high-temperature alloys for aircraft parts. The unique properties of Cobalt make this metal irreplaceable by other substances; total Cobalt demand is expected to grow 30% by 2020. Copper is a broadly used metal due to its electrical and thermal conductivity. Nickel is a critical component to stainless steel alloys.
About Brazil Minerals, Inc.
Brazil Minerals, Inc. (BMIX) has a business model focused on: 1) mining specific areas for gold and diamonds, and 2) generating projects from its portfolio of high-quality mineral rights for transactions leading to royalties and/or equity positions. Our first equity holding from such strategy is in Jupiter Gold Corporation (JUPGF). More information on Brazil Minerals is at www.brazil-minerals.com. More information on Jupiter Gold is at www.jupitergoldcorp.com. Follow us: @BMIXstock and @JupiterGoldCorp.
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, Brazil Minerals, Inc.’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. We advise U.S. investors that Brazil Minerals’ (and its subsidiaries’) properties and projects, as of now, are exploratory and do not have measured “reserves” as such term is defined by the Securities and Exchange Commission.