Strong Framework in Place, Mabwe Minerals Inc. (MBMI) Well-Positioned to Meet Oil & Gas Industry’s Barite Demand
Barite is a commercial mineral primarily used as a weighting agent for the oil and gas industry. In this use, barite “mud” is pumped into oil wells where the weight of the crushed barite/water/other materials flushes rocks chips away from the drilling head to prevent the explosive release of the oil and gas from the ground. More than 75 percent of barite consumption in the U.S. is used for this drilling application. Mabwe Minerals, a publicly traded Raptor Resources Holdings (OTCQB: RRHI) subsidiary, seeks to meet its portion of barite demand as oil and gas production continues to flourish worldwide.…