Home » Industry » Raptor Resources Revenue Rises to U.S.$3 Million

United States-based Raptor Resources Holdings, which owns Dodge Barite Mine in Shamva, revenue rose 32 percent to $3 million since acquiring another local mine, Derbyshire Quarry in March this year.

In an effort to maintain growth in revenue, the group said it was targeting corporates and improved inventory management as it prepares for increased demand and road construction activity this year.

The company acquired 100 percent stake in the quarry mining company and has capitalised on the growing demand for quarry stones in the country’s road construction industry.

Raptor Resources Holdings is a natural resources company focused on mineral and metal resource acquisition, exploration and development.

In a statement Raptor Resources Holdings said it has managed to record a revenue increase.

“Unaudited financials show a 32 percent revenue increase to $2 952 926 and we hope to improve production efficiencies at the quarry mine,” the company confirmed.

Production products for Derbyshire Quarry include 10mm stones, 20mm stones, quarry dust, crusher run, river sand (washed), pit sand, and decomposed granite.

Derbyshire Stone Quarry is the largest indigenous sand and stone quarry in the Harare area and is located in a prime residential growth zone within close proximity to major road projects. Derbyshire Stone Quarry general manager Mr Garth Heathcote said the company’s business objective was to improve production efficiencies to enhance revenue growth.

“Lower costs and streamline administrative operations to ensure quick customer turnaround. Along with improved inventory management, the company is now aggressively targeting corporate clients in preparation for an expected increase in road construction demand over the next 12 to18 months, “Mr Heathcote said

Derbyshire Stone Quarry is managed by, WGB Kinsey and Company which is Raptor Resource’s strategic partner.

Raptor Resources Holdings is also the holding company of Mabwe Minerals which is wholly owned by TAG Minerals (another subsidiary to Raptor Resources).

The company last year expressed its intentions to expand its operations in the country when Mabwe Minerals Holdings, acquired mineral and metal rights for 110 hectares (272 acres) at its Dodge barite mine in Shamva.

Mabwe Minerals is engaged in mining and commercial sales of industrial minerals and metals. The company mines barite, a crystalline mineral of barium sulfate (can be white, yellow or colourless) that is used in paint manufacturing and is mostly used as industrial mineral. It is also a chief source of barium chemicals. The mineral is mainly used in the manufacture of paint.

Raptor is currently focused on viable hard assets, seasoned mining companies and developing Greenfield resources featuring high value minerals and metals. Raptor, through its Zimbabwe affiliate, TAG Minerals is also pursuing a new mine targeting nickel and copper.

Source : The Herald