Mabwe Minerals Inc. (MBMI) Poised to Deliver Barite Supply for Mounting Oil Drilling in Southern Africa
Mabwe Minerals, the majority-owned subsidiary of Raptor Resources Holdings Inc. (OTCQB: RRHI), has assembled a land package in northeastern Zimbabwe at their recently expanded Dodge Mine site (just northeast of Harare) which will satisfy rapidly mounting regional demand for barite, the critical weighting agent for drilling mud used throughout the oil and gas industry. With upwards of 80% of API-grade barite going directly into the oil and gas sector, accelerating regional (as well as global) drilling activity provides a strong future for MBMI's Dodge Mine and the company has stitched up the logistics to boot. Over 160k tons of annual…