Business Reporter
United States-based Raptor Resources Holdings which owns Dodge barite mine in Shamva has acquired 100 percent stake in a Chitungwiza-based quarry mining company, Derbyshire Stone Quarry. Raptor Resources Holdings is a natural resources company focused on mineral and metal resource acquisition, exploration and development.
Derbyshire Stone Quarry will be managed by, WGB Kinsey and Company which is Raptor Resource’s strategic partner. Raptor Resources business development Vice president Mr Louis Schlegel confirmed the acquisition of Derbyshire Stone Quarry.
“Production products for Derbyshire Quarry include 10mm stone, 20mm stone, quarry dust, crusher run, river sand (washed), pit sand, and decomposed granite. The company is located in a prime residential growth zone within close proximity to major road projects,” said Mr Schlegel.
The Derbyshire Stone Quarry is the largest indigenous sand and stone quarry in the Harare area as part of the agreement Raptor acquired a stone stock pile inventory valued at more than $440 000. In addition Derbyshire Quarry had a debtor book or cash in bank of not less than $75 000 and in return Raptor offered new management contracts for key employees.
Raptor Resources Holdings is the holding company of Mabwe Minerals which is also wholly owned by TAG Minerals (another subsidiary to Raptor Resources). The company expressed its intentions to expand its operations in the country when Mabwe Mineral Holdings, acquired mineral and metal rights for 110 hectares (272 acres) at its Dodge barite mine in Shamva.
Mabwe minerals is engaged in mining and commercial sales of industrial minerals and metals. The company mines barite, a crystalline mineral of barium sulfate (can be white, yellow or colourless) that is used in paint manufacturing and is mostly used as industrial mineral and is also a chief source of barium chemicals.
The mineral is mainly used in the manufacture of paint. Raptor is currently focused on viable hard assets, seasoned mining companies and developing greenfield resources featuring high value minerals and metalsIn the first quarter of 2014, the company, through its Zimbabwe affiliate, TAG-Z is pursuing a new mine targeting nickel and copper. Raptor Resources Holdings owns 90 million shares of Mabwe Minerals or approximately 64 percent of its issued and outstanding shares of common stock