SOURCE: Mabwe Minerals Inc.

Mabwe Minerals Inc.

November 18, 2013 08:39 ET

Mabwe Minerals Secures First Purchase Order for Barite From Steinbock Minerals

Company Receives First Purchase Order for 2,000 Tons of Barite

FREEHOLD, NJ--(Marketwired - Nov 18, 2013) - Mabwe Minerals Inc. (OTCQB: MBMI) (the "Company"), a natural resources company engaged in the mining and commercial sales of industrial minerals and metals, is pleased to announce that barite from the Dodge Mine Project is entering the supply-line chain as a result of Zimbabwe affiliate, Mabwe Minerals, receiving their first purchase order from Steinbock Minerals.

Mabwe Minerals entered into strategic alliances with Steinbock Minerals and Yasheya Limited in August and already is reaping the benefits of these key partnerships. Steinbock Minerals is a worldwide distributor of industrial minerals and key global distributor of barite. Along with Steinbock Minerals affiliate, Yasheya Limited, who specializes in the shipment of industrial minerals, Mabwe Minerals has received their first purchase order for 2,000 tons. 

Steinbock Minerals has an established barite customer base seeking new sources of supply and has started the process to provide small lot shipments to targeted customers for final acceptance. Over the course of the next few quarters, Steinbock Minerals will continue to expand Mabwe Minerals' new customer base, as well as move from small qualification acceptance lots to pre-production orders to ensure post-delivery compliance. 

Steinbock Minerals, who also owns their own barite mines, is a seasoned company bringing new sources of supply into their supply-line chain. They are setting the pace to ensure Dodge Mine barite enters the market as a reputable emerging source of supply; contrasting the failed attempts from new barite sources, as reported by DownHoleTrader, who entered the market too quickly and subsequently failed production post-delivery qualification. With a proven, measurable track record of success, Mabwe Minerals will capitalize on their experiences to the benefit of our shareholders.

Tapiwa Gurupira, Director of Mabwe Minerals, stated, "These last few months have been a learning experience for everyone. Steinbock Minerals' provision of first-hand technical direction accelerated our understanding of salvageable barite in the halo zones just outside the primary veins as well as helped Dodge Mine operator, WGB Kinsey, to define key processing systems that will be integrated over the next few quarters to improve production efficiencies and increase daily production rates." 

"Our first 2,000 ton purchase order represents a key milestone accomplishment as Dodge Mine barite now enters the marketplace," Gurupira continued. "Additional purchase orders are anticipated this quarter, which will set the stage for Mabwe Minerals to expand its new customer base and grow into our existing land transportation next year currently representing 140,000 tonnes annually."

Al Pietrangelo, President & CEO of Mabwe Minerals Inc. commented, "Our Zimbabwe team has worked extremely hard at Dodge Mine to bring a new source of commercial barite into the marketplace. To be at this stage and sharing the good news of the first purchase order is exciting for all our shareholders." 

About Mabwe Minerals Inc.

Mabwe Minerals Inc. is a U.S. based natural resources and hard asset company engaged in the mining, logistics and commercial sales of industrial minerals and metals, with first focus on barite. The company's operations are conducted through its Zimbabwe parent/holding affiliate, Mabwe Corporation (Private) Limited, which includes wholly owned subsidiary Mabwe Minerals Zimbabwe (Private) Limited and minority owned WGB Kinsey & Company.

To learn more about Mabwe Minerals, visit: or

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Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" ("FLS") within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. FLS include statements predictive in nature, depending upon or referring to future events / conditions, including words like "believes," "anticipates," "intends," "plans," "expects," and similar expressions. Statements concerning future financial performance (revenues, earnings, and growth rates), ongoing business strategies / prospects, and future actions, which may be provided by management, are also FLS as defined by the Act. The actual and any future results, performance or achievements of the Company, expressed or implied, may be materially different and vary significantly for different reporting periods due to FLS that involve known and unknown risks and other factors. Management believes that the assumptions made and expectations reflected in the FLS are reasonable. There is no assurance that the underlying assumptions will prove to be correct and the actual future results may be different from expectations expressed above. These statements are not guarantees of future performance. Mabwe Minerals Inc. has no specific intention to update these statements.

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