Planet Resource Recovery and JV Partners Scheduled to Conduct Site-Survey of Antimony Mine in Bolivia
February 19 2010 - 10:22AM
Marketwired
Planet Resource Recovery, Inc. (PLANET) (PINKSHEETS: PRRY),
developer, manufacturer and marketer of PetroLuxus™ and other
"Green" technologies for the remediation and recovery of the
planet's resources, is pleased to announce that the company
representatives from Planet Resource Recovery, Franklin Mining and
MidWest General are scheduled to visit and conduct a site-survey of
the San Antonio de Turiri Antimony Mine in Bolivia. The Joint
Venture Partners will conduct the site-survey at the second week of
March to strategize the most expedient path to revenues.
Planet announced its JV partnership with MidWest General, LLC on
December 17, 2009 whereas Planet would deploy its "Green
Technologies" in the mining and remediation industries. MidWest
General will provide capital funding, construction and on-site
operational management for Planet.
Planet announced its JV partnership with Franklin Mining, Inc.
on February 1, 2010. Franklin Mining owns the rights to mine the
San Antonio de Turiri Antimony Mine in Bolivia. This JV Agreement
calls for the parties to develop and operate the mine.
The San Antonio de Turiri Antimony mine is situated on part of
Bolivia's primary antimony belt. It consists of three parallel
antimony vein structures approximately 1.5 kilometers in length and
3 meters in width. The main ore body ranges from 60% to 67% of pure
antimony. The surrounding shale host rock, secondary ore body,
consists of 5% - 10% antimony. To date, according to geological
studies and laboratory analysis, less than 5% of Turiri's reserves
have been mined.
Antimony is a chemical element that has a broad range of
applications in manufacturing of industrial and consumer products.
It is used in numerous industries such as: semiconductors, flame
retardants, storage batteries, electronics, pharmaceuticals,
paints, ceramics alloys, rubber and the ammunitions. Bolivia is one
of the five top producing countries in the world. China dominates
production of antimony and Bolivia produces approximately 3.5% of
the annual world demand. Commodity pricing for antimony has
steadily risen from a little over US$ 1000.00 per ton to present
day (January 2010) pricing of US$ 6,400.00 per ton.
The parties anticipate that upon the site-survey completion, the
first phase of mining operation will be underway within 90
days.
About Planet Resource Recovery, Inc.
Houston, Texas-based Planet Resource Recovery, Inc. is the
developer, manufacturer, and marketer of unique, environmentally
friendly proprietary chemical compounds and processes that will
usher in a new paradigm shift in industry. The company is primarily
focused on three distinct sectors: 1) Oil & Gas Industry with
PetroLuxus™, 2) Remediation of mining toxic byproducts and 3)
mining of base and precious metals. The company has developed
multi-dimensional compounds and their related processes,
technologies and methodologies to provide these sectors enhanced
benefits and revenue opportunities. For more information visit:
www.planetresource.com or www.petroluxus.com.
Safe Harbor Statement
Certain statements in this release are "forward-looking"
statements as defined in the Private Securities Litigation Reform
Act of 1995. Such statements are subject to numerous risks and
uncertainties. Actual results may vary significantly from the
results expressed or implied in such statements. Factors that could
cause actual results to materially differ from forward-looking
statements include, but are not limited to, the Company's ability
to meet the terms and conditions required to obtain its project
financing, risks and delays associated with product development,
risk of market acceptance of new products, risk of technology or
product obsolescence, competitive risks, reliance on development
partners and the need for additional capital. Planet takes no
obligation to update or correct forward-looking statements, and
also takes no obligation to update or correct information prepared
by third parties that are not paid for by Planet.
Media Contact: Rod Mitchell 281-350-5506 Mediarod@aol.com A.S.
Austin Company 858-537-7439 PRRY@asaustinco.com
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