DGAP-News: Femin Inc.: FEMIN RECEIVES FAVOURABLE ENGINERING REPORT FOR RAILWAY SPUR RIGHT OF WAY
(firmenpresse) - DGAP-News: Femin Inc. / Key word(s): Miscellaneous
Femin Inc.: FEMIN RECEIVES FAVOURABLE ENGINERING REPORT FOR RAILWAY
SPUR RIGHT OF WAY
17.10.2011 / 14:31
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Toronto ON - Femin Inc. (FRA-FJM) ('Femin') is pleased to announce that
pursuant to an understanding with the Brazilian Ministry of Transport
('ANTT') and VALEC, the government body overseeing construction of the FIOL
railroad, it has received, for its review and approval, the first draft of
its previously commissioned engineering report by Shimura and Shimura
Engenheiros Associados Ltda. of Sao Paulo, Brazil. The report lays out the
most economical right of way, along with a budget, for the Febra Project?s
180 kilometer rail spur to connect the project with the government?s FIOL
railroad near Caetité. After approval it is expected that ANTT will utilize
its right of eminent domain to acquire the right of way.
Femin?s CEO Alexander Stewart said 'The selected route for the Febra rail
spur is very efficient, enabling favourable transportation costs that will
be reflected in dollar savings to the bottom line. The route contains no
natural impediments allowing for fully loaded trains to travel downhill to
connect with the FIOL railroad.' Attached as 'Schedule A?and 'Schedule B?is a map and elevation of the proposed route from the engineering study.
- IN OTHER NEWS - FEMIN TO ACQUIRE MEXICAN IRON ORE FOR EXPORT TO CHINA
Negotiations are underway with three different iron ore producers, to
consolidate their production and arrange for a long term purchase contract
with the product being shipping to the Asian market. Femin is currently
finalizing an agreement with one of the producers.
Femin?s CEO Alexander Stewart was quoted as saying 'This is an opportunity
to consolidate a number of producing mines and align them with credible
long term buyers overseas and also to invest in enhancing and increasing
the available iron ore resources. Our Mexican partners have secured port
access through three ports on the Pacific coast of Mexico. Femin will use
its iron ore expertise to assure quality control and then finalize long
term purchasing contracts with Asian buyers - with China being the dominant
destination.' More details to follow.
About Femin Inc.
Femin Inc. is a mineral exploration and development company located in
Toronto, Canada. The Company was established in 2010 and its primary focus
is the Febra Iron Project, which is a substantial iron deposit located in
the State of Bahia, Brazil. Femin's management team has extensive
experience in the exploration and development of mineral deposits all over
the world. Femin Inc.'s shares are listed for trading on the Frankfurt
Stock Exchange, Open Market.
For further information, please contact:
Femin Inc.
Alexander Stewart, CEO
Phone: (416) 644-1179
E-mail:astewart(at)femin.ca
Or
Stephen Stewart, VP
Phone : (416) 644-1179
Email : sstewart(at)femin.ca
Legal Disclaimer:
This release contains forward-looking statements that are subject to
various risks and uncertainties. Actual results could differ materially
from those described in these forward-looking statements due to certain
factors, including changes in business, economic and competitive
conditions, regulatory reforms, foreign exchange rate fluctuations,
uncertainties in litigation or investigative proceedings, and the
availability of financing. Femin does not undertake any responsibility to
update the forward-looking statements in this release.
End of Corporate News
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142488 17.10.2011
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Datum: 17.10.2011 - 14:31 Uhr
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News-ID 76687
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