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PASADENA, Calif., Aug. 15, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Brazil Minerals, Inc. (OTC: BMIX) (the "Company" or "Brazil Minerals") announced today that it now has rare earths areas comprising three mineral rights totaling 12,528 acres in Brazil. Two mineral rights are in the state of Goiás and one mineral right is in the state of Tocantins. Brazil is one of only very few countries where rare earths are known to occur in concentrations allowing economic recovery.
Mr. Areli Nogueira, geological engineer of the project, stated, “This is a highly promising situation for Brazil Minerals. Of particular importance is the fact that we have strong indications that our Rare Earths Project contains the more sought-after heavy rare earths elements which are less commonly found.”
The term “rare earths” denotes a group of seventeen minerals which are needed in small amounts but essential in several high-technology applications including electric vehicles and military hardware. “Heavy” rare earths are a sub-group of these elements which include Gadolinium and Yttrium, among others. Brazil Minerals’ rare earths project claims and areas nearby have had prior studies performed by researchers from both the Brazilian Geological Service and a private university.
China appears to control the vast majority of the world’s supply of rare earths according to multiple news media articles that appeared recently, some of which also spoke of possible shortages in a trade war scenario between that country and the United States.
Marc Fogassa, CEO of the Company, commented, “This news is extremely relevant. Due to an aggressive push that we implemented throughout this year, Brazil Minerals now has projects in both lithium and rare earths. These are all highly strategic minerals, and each of these projects alone is transformational and could catapult us to a new level.”
About Brazil Minerals, Inc.
Brazil Minerals, Inc. (OTC: BMIX) has a business model focused on: 1) mining specific areas for gold and diamonds, and 2) generating projects from its portfolio of high-quality mineral rights for transactions leading to royalties and/or equity positions. Our first equity holding from such strategy is in Jupiter Gold Corporation (OTC: JUPGF). More information on Brazil Minerals is at www.brazil-minerals.com. Follow us on Twitter: @BMIXstock.
Safe Harbor Statement
This press release contains forward-looking statements made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward looking statements are based upon the current plans, estimates and projections of Brazil Minerals, Inc.'s management and are subject to risks and uncertainties, which could cause actual results to differ from the forward- looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of production, reserves, sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Brazil, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: business conditions in Brazil, general economic conditions, geopolitical events and regulatory changes, availability of capital, Brazil Minerals, Inc.’s ability to maintain its competitive position and dependence on key management. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. We advise U.S. investors that Brazil Minerals’ (and its subsidiaries’) properties and projects, as of now, are exploratory and do not have measured “reserves” as such term is defined by the Securities and Exchange Commission.