September 02, 2010 10:27 ET

NYMET Holdings Inc. (NYMH) -- NYMET Completes Mine Production Expansion to 100,000 Metric Tons as Part of $120 Million Purchase Contract

NEW YORK, NY--(Marketwire - September 2, 2010) -  NYMET Holdings Inc. (PINKSHEETS: NYMH), an international metal recycling and trading company, with offices located in New York, Chicago, India, and soon to open offices in Chile, South America is pleased to announce the completion of the expansion project for the iron ore facility located in Chile, South America. Previously announced, the facility had a production rate of 50,000 metric tons per month. With the new, state of the art production plant NYMET has now increased production to over 100,000 metric tons per month.

Edward R. Gulmi, Executive VP, stated, "With the new plant now installed and fully operationally we can meet the demands of our clients. Furthermore we will continue to expand operations and have already made application to the ministry of mining to further expand our export permit to 300,000 metric tons per month."

NYMET's mission:
To evolve into the best raw material supplier for the steel production sector using logistics, software, and selective, strategically acquired operating assets.

The results described herein cannot be guaranteed. The development of any and all of the subject mining claims stated herein is contingent upon multiple high risk factors that must be successfully dealt with in order to achieve the intended results. This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this news release other than statements of historical fact are "forward-looking statements" that are based on current expectations and assumptions. These expectations and assumptions are subject to risks and uncertainty, which could affect NYMET Holdings future. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the statements, including, but not limited to, the following: the ability of NYMET Holdings to provide for its obligations, to provide working capital needs from operating revenues, to obtain additional financing needed for any future acquisitions, to meet competitive challenges and technological changes, and other risks. NYMET Holdings undertakes no duty to update any forward-looking statement(s) and/or to conform the statement(s) to actual results or changes in NYMET Holdings expectations.  

Contact Information

  • Contact:
    NYMET Holdings Inc.
    Investor Relations
    (631) 923-1400