Raptor Resources, a natural resources company focused on mineral and metal resource acquisition, exploration and development, reports that its Zimbabwe affiliate, TAG Minerals Zimbabwe (Private) Ltd. (“TAG-Z”), has acquired the Derbyshire Stone Quarry, an established mining company managed by mining operator and strategic partner, WGB Kinsey & Company.
The Derbyshire Stone Quarry is the largest indigenous sand & stone quarry in the Harare area and is located in a prime residential growth zone in Zimbabwe within close proximity to major road projects. Production products include 10mm stone, 20mm stone, quarry dust, crusher run, river sand (washed), pit sand, and decomposed granite.
Per the agreement, TAG Minerals has acquired Derbyshire stockpile inventory of no less than $440,000, debtor book/cash in bank of no less than $75,000, as well as new management contracts for key employees.
“In prior letters to shareholders, the company committed to building assets within TAG Minerals during CY 2014. TAG Minerals is focused on viable hard assets, seasoned mining companies and developing greenfield resources featuring high value minerals & metals. In just the first quarter of 2014, the company, through its Zimbabwe affiliate, TAG-Z, has acquired 100 percent of greenfield resource Raptor Mine targeting nickel and copper for further development as well as the Derbyshire Stone Quarry, a mature granite quarry in volume production,” Al Pietrangelo, CEO and president of Raptor Resources stated in the news release.
Raptor Resources is the parent company of Mabwe Minerals, Inc., 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 and limestone; and TAG Minerals, Inc., a U.S. based mineral/metal resource acquisition, exploration and development company targeting viable hard assets, seasoned mining companies along with developing greenfield resources aimed at high value minerals and metals.
For more information, visit www.raptorresourcesholdings.com
Let us hear your thoughts: Raptor Resources Holdings Inc. Message Board