BELO HORIZONTE, BRAZIL–(Marketwired – Feb 25, 2014) – Brazil Minerals, Inc. (OTCQB: BMIX) (the “Company” or “BMIX”), a diversified Brazilian mining company with revenues from the sale of both polished and rough diamonds, as well as gold, and with ownership interests in gold, titanium, vanadium and iron projects, announced today announced today that it had sold its first lot of cut and polished diamonds from its Duas Barras plant to a Brazilian jewelry chain.
Normally, diamonds from Duas Barras that are cut and polished are exported to the U.S. for grading and certification at the Gemological Institute of America (“GIA”). However, this Brazilian jeweler chose to buy them without GIA certification. The buyer is a major regional jeweler, in business since 1944 with 11 retail outlets in Brazil.
Marc Fogassa, Chairman and CEO of BMIX, commented, “We’re delighted with this sale because it provides a logistically easy outlet for our future diamond production. We have now sold polished diamonds both with and without GIA certification, in both the U.S. and Brazil. Having a jeweler as sophisticated as this buyer wanting our product opens up new distribution opportunities for us and is very good news for our Company.”
About Brazil Minerals, Inc.
Brazil Minerals, Inc. (OTCQB: BMIX), a U.S. corporation, is a diversified mining company with revenues from sales of rough and polished diamonds as well as gold, and ownership of interests in projects in gold, titanium, vanadium and iron in Brazil. More information on BMIX, including an investor presentation, can be found at www.brazil-minerals.com.
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, BMIX’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.