Sep 26 2014
Brazil Minerals, Inc., (the "Company" or "BMIX"), a U.S. holding company with revenues from sales of gold and diamonds, announced today that one of the diamonds produced by Mineração Duas Barras Ltda. ("MDB") was graded as a fancy color diamond by the Gemological Institute of America ("GIA").
Fancy colored diamonds are much rarer than the usual colorless gems that MDB produces. Colored diamonds lend themselves well to specific jewelry pieces, which may command a price substantially higher than a sale of the polished diamond. BMIX is studying the Brazilian colored diamond market because of the high margins that it can produce and the fact that it is complementary and synergistic to its current colorless diamond business. The colors most commonly seen in Brazilian fancy diamonds are yellow, pink, and blue.
MDB mines conflict free diamonds and gold, and sells rough and polished diamonds and 96% purity gold. It owns mineral rights encompassing approximately 1,404 acres, including a fully-operational mining concession with the largest alluvial processing plant for diamonds and gold in Latin America. MDB has NI 43-101 technical reports and a bankable feasibility study on file with the local mining authority. It also has the permit to export its production of rough diamonds as well as its own cut and polished diamonds.
About Brazil Minerals, Inc.
Brazil Minerals, Inc. (OTCQB: BMIX) is a U.S. holding company with revenues from gold and diamonds and ownership of interests in projects in diamonds, gold, high quality sand, titanium, vanadium and iron in Brazil. In particular, BMIX owns 86.88% of Mineração Duas Barras Ltda. ("MDB"), a Brazilian producer. MDB mines conflict free diamonds and gold, and sells rough and polished diamonds and 96% purity gold. MDB has a fully-operational mining concession and the permit to export its production of rough and polished diamonds. More information on BMIX can be found at www.brazil-minerals.com.