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Thursday, 20 October 11
BRACKEN INTERNATIONAL MINING LISTS ON FRANKFURT STOCK EXCHANGE


Press Release - Bracken International Mining (Code:1BM) listed on the Deutsche Börse’s Frankfurt Stock Exchange today at €1.00 with an opening market capitilisation of €500 million.

Executive Chairman Luke Bracken says now the company has successfully listed it will be able to move assertively into a multi-billion dollar mining business on a global scale.

“We have secured the operating mining licenses for six high-grade Manganese mines in Indonesia, with combined reserves in excess of 300 million tons,” Mr. Bracken says.

“Government licenses have been secured to enable construction of the first smelter close to the mines and a new source of electricity is due to be commissioned in October of this year within a few kilometers of the proposed smelter site at Kupang.

“The mines have been producing ore in a limited capacity since early 2010, with trial exports of Manganese shipped to customers in China, however the retooling of new plant and equipment in the coming months will allow the company to increase export capacity to meet contract requirements above 50,000 MT per month.”

The new benefaction plant will have a total production capacity of 240,000 MT per month.

BIM currently has a signed contract through its New York trading partners to deliver 10,000 MT per month into China for an agreed five year period, with expressions of interest from a further six companies from India and China.

Manganese is the fourth most used metal in terms of tonnage, being ranked behind iron, aluminum and copper, and is an extremely valuable commodity with world demand depending directly on the needs of the steel industry.

Mr. Bracken says BIM’s listing on the Frankfurt Stock Exchange will provide the company with exposure into a larger international capital market, which will help facilitate desired growth.

“We plan to grow the company to become more than just a junior miner and develop our markets throughout Asia, the Americas and Europe,” Mr. Bracken says.

“BIM has a number of thermal coal licenses in Australia and Indonesia under review that we are in the negotiation process of acquiring.

"The company is also negotiating an interest in gold in the USA and we expect to make progress in this area during the year.”

For more information, please visit
www.brackenmining.com.au



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