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RAPAPORT... Brazil Minerals Inc. anticipates that revenue will increase 14 percent year on year to $303,000 during the third quarter, according to a preliminary filing statement. Revenue was derived from the sale of rough diamonds, gold and polished diamonds during the period.
"We are very pleased with our sales in the quarter," said Marc Fogassa, the CEO of Brazil Minerals. "We are focused on a challenging area to mine, which was entirely under water, at certain levels reaching 15 meters, and needing drainage. The announcement today underscores our ability to perform. We continue on our desired path to become the largest diamond miner in Latin America and a company with cash flow stemming from a diversified mineral portfolio." Brazil Minerals expects to sell sand supplies as a means to increase revenue beginning in the fourth quarter and at some stage in 2015, it plans to offer fancy colored diamonds in polished form or mounted in jewelry, according to the statement.
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