VANCOUVER, June 21, 2017 /CNW/ - Meridian Mining S.E. (TSX
V: MNO) ("Meridian" or the "Company"), today announced it has
signed a contract for the sale of 20,000 tonnes of high-grade
manganese to an international customer from its project in
Rondônia, Brazil.
"The sale marks an important milestone for Meridian, and
represents approximately one-third of our estimated production for
2017," said Anthony Julien,
President and CEO of Meridian Mining. "With commissioning of
our pilot plant expected in the coming weeks, we are well on the
way to growing production capacity to 50,000 tonnes per annum,
helping us to better address the growing global demand for
high-grade manganese."
The sales contract will consist of two shipments to be completed
before year-end 2017. The first is for 10,000 tonnes to be
delivered in September. The second is expected in
December. Given that Meridian's product is high grade,
it will be priced at a premium to benchmark. At
May 20th 2017, the
benchmark price for manganese was USD $5.76 per tonne (US$ / Price 44% Mn CIF Tianjin –
Metal Bulletin).
High-grade manganese has a number of applications beyond steel
production, including the manufacture of batteries and use as a
fertilizer.
With the new contract, Meridian's sales orders for 2017 are
18,799 tonnes sold and delivered and 32,463 tonnes committed.
ABOUT MERIDIAN
Meridian Mining S.E. is focused on the
acquisition, exploration, development and mining activities in
Brazil. The Company is currently
focused on exploring and developing the Jaburi manganese and gold
projects, the Bom Futuro tin JV area, and adjacent areas in the
state of Rondônia. The Company employs a two-pronged strategy with
the objective of growing pilot production while advancing a
parallel multi-commodity regional exploration program. Meridian is
currently producing high grade manganese at its project located at
Espigão de Oeste.
Further information can be found at www.meridianmining.co.
On behalf of the Board of Directors of
Meridian Mining S.E.
"Anthony Julien"
Anthony Julien
President, CEO and Director
FORWARD-LOOKING STATEMENTS
Some statements in this news release contain forward-looking
information or forward-looking statements for the purposes of
applicable securities laws. These statements include, among others,
statements with respect to the Company's plans for exploration and
development of its properties and potential mineralization. These
statements address future events and conditions and, as such,
involve known and unknown risks, uncertainties and other factors,
which may cause the actual results, performance or achievements to
be materially different from any future results, performance or
achievements expressed or implied by the statements. Such risk
factors include, among others, failure to obtain regulatory
approvals, failure to complete anticipated transactions, the timing
and success of future exploration and development activities,
exploration and development risks, title matters, inability to
obtain any required third party consents, operating hazards, metal
prices, political and economic factors, competitive factors,
general economic conditions, relationships with strategic partners,
governmental regulation and supervision, seasonality, technological
change, industry practices and one-time events. In making the
forward-looking statements, the Company has applied several
material assumptions including, but not limited to, the assumptions
that: (1) the proposed exploration and development of mineral
projects will proceed as planned; (2) market fundamentals will
result in sustained metals and minerals prices and (3) any
additional financing needed will be available on reasonable terms.
The Company expressly disclaims any intention or obligation to
update or revise any forward-looking statements whether as a result
of new information, future events or otherwise except as otherwise
required by applicable securities legislation.
The Company cautions that it has not completed any feasibility
studies on any of its mineral properties, and no mineral reserve
estimate has been established. In particular, because the Company's
production decision relating to Jaburi's manganese project is not
based upon a feasibility study of mineral reserves, the economic
and technical viability of the Jaburi manganese project has not
been established.
The TSX Venture Exchange has in no way passed upon the merits of
the proposed option grant and has neither approved nor disapproved
the contents of this news release. Neither TSX Venture
Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE Meridian Mining S.E.
