Brazil Minerals, Inc. Expands Operational Team in Brazil
BELO HORIZONTE, BRAZIL--(Marketwired - Jul 24, 2014) - Brazil Minerals Inc. (
Marc Fogassa, Chairman and CEO of BMIX, commented, "We have built a strong local team with multi-talented individuals. They are hungry for success and work very hard, which are two basic tenets of our culture. Team building is pivotal and we have been able to handpick the talent to join us."
Mr. Carlos Henrique de Oliveira Garcia joined as Manager and Mr. Armando Franz Netto Soares joined as Associate, and both are based in BMIX's Brazilian headquarters office in Belo Horizonte, the capital of the state of Minas Gerais in Brazil. The name "Minas Gerais" means "General Mines" which gives an indication of the richness of natural resources contained in that part of Brazil. Minas Gerais possesses over 300 years of mining history and hosts multiple operations in diverse minerals. Belo Horizonte is the third largest city in the country, and has a population of 2.5 million people. Mr. Robledo Delatorre Ribeiro, head of BMIX's Brazilian Operations, is also based in Belo Horizonte and has extensive diamond industry experience as well as a private equity background.
Mr. Eder Patrick Soares de Araujo joined as Manager with an appointment at BMIX's satellite office in Montes Claros, in the northern part of Minas Gerais, and the closest large city to Mineração Duas Barras Ltda ("Duas Barras"), the diamond and gold mining subsidiary of BMIX. Montes Claros has a population of 400,000 people and is located a 90 minute drive from Duas Barras. Montes Claros has all of the necessary services and suppliers that are required to operate Duas Barras' mining operations, including fuel and food supplies, construction materials, and manufacturing and repair shops. Duas Barras is located on the left bank of the Jequitinhonha River; this river valley area is a well-known diamond area and has hosted mining operations since the 18th century.
About Brazil Minerals, Inc.
Brazil Minerals Inc. (OTCQB: BMIX), a U.S. holding corporation, has ownership of 73.75% of Duas Barras, a Brazilian mining company that mines diamonds and gold, and sells polished and rough diamonds as well as gold bars with 96% purity. BMIX also owns stakes in other subsidiaries in Brazil with mineral rights and/or options on projects in diamonds, gold, and other minerals. More information on BMIX, including an investor presentation, can be found 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.
Cautionary note regarding estimates of Indicated and Inferred Mineral Resources as found in the Duas Barras NI 43-101.
We advise U.S. investors that while these terms are recognized by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize them. U.S. investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into mineral reserves.