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With the completion of initial deposit analysis and characterization, RMCO and its partner company are commencing the process of obtaining a full permit for development and production
Company will work with local regulators to develop the ability to extract and process the diversified resource by training and utilizing local labor and community development
FISHERS, IN / ACCESSWIRE / March 1, 2024 / Royalty Management Holding Corporation (NASDAQ:RMCO) ("Royalty Management" "RMCO", or the "Company"), an innovative royalty company building shareholder value by acquiring and developing high value assets in sustainable market environments, announce today that its investment into T. R. Mining Ltd., through a royalty structure on sale of resources sold, has entered into the next phase of development towards full production and commercialization through the commencement of the next steps to obtain the full production permit for the extraction and processing of a variety of minerals, compounds, and elements, such as titanium dioxide, iron ore and vanadium, in close partnership with local labor resources and by using environmentally sensitive processes.
"We are excited to support this project and help move it to the next stages of development for the extraction and sale of its high value materials, which, in turn, can generate long-term and lucrative royalty streams to our investors. T. R. Mining and its representatives has begun the process of communicating with the local regulators to start the process to obtain the full operating permit for this deposit, along with preliminary planning and development stages of building out the full commercial realization process." stated Thomas Sauve, CEO of RMCO. Mr. Sauve continued, "We feel really energized about the demand for the products and the overall growth of the infrastructure market worldwide and feel that our investors have the opportunity to benefit greatly from the royalty structure in-place with this deposit with a properly-executed game plan."
RMCO will work with third-party mining companies to accelerate the extraction and monetization of the minerals and resources found within this licensed project, initially focusing on the extraction and sale of a set of high value materials found within the deposit, which includes:
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Titanium Dioxide and related compounds: Used in a variety of applications, such as the manufacturing of paints, plastics, paper, and for the aerospace, defense, medical, and steel industries;
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Vanadium Ore: Used for strengthening steel and is a component of rechargeable batteries; and
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Iron Ore: Used in a variety of industries and applications, from ironmaking and steelmaking to resource processing, in the form of magnetite and other related compounds.