Cotton & Western Mining, Inc. (PINKSHEETS: CWRN) -- Robert L. Cotton, President & C.E.O. of Cotton & Western Mining, Inc., announced today that the company has issued its first purchase order for a total of $1,057,900.00 to Valley Equipment Company, Inc. of Salem, Oregon for mining equipment as part of its ramping up for iron mineral production at one of its selected mineral leases through the "Cotton & Quantum Minerals Venture." All U.S. purchased equipment will ship out of the Port of Seattle, Washington.
Valley Equipment Company, Inc. is a major mining and aggregate equipment dealer and custom manufacturer of specialized mining equipment. http://www.valleyequip.com
The company will be issuing additional purchase orders for sets of crushing, screening and separation equipment together with hauling trailers to be exported to its Asian mineral leases; it is anticipated that more than one mining operation will be started up in order to meet iron ore production and shipping requirements of its joint venture partner, Quantum International of Houston, Texas.
CWRN is currently negotiating for two (2) new iron mineral leases to offset the maximum shipping capacity of its initial mining site. Utilizing three (3) ports, the joint venture could expand its shipping capacity to near 500,000 dry metric tons per month, which is now a new shipping target of the venture.
It is expected that the venture will be in production within the six (6) month time frame that was set upon the signing of the joint venture agreement with Quantum International.
Under the terms and conditions of the joint venture agreement, CWRN shall be responsible for all mining operations, and selection of iron mineral leases to exploit, while Quantum International shall be responsible for all funding and finished product contract sales.
For more information on Cotton & Western Mining, Inc. please visit the company website at: http://www.cottonwestern.com.
No comments:
Post a Comment