Delta Minerals signs MOU for reclamation sand to Singapore

Singapore, April 21, 2015 – Delta Minerals signs MOU with Chahaya Shipping & Trading Co., Pte Ltd

Delta Minerals has signed a Memorandum of Understanding (MOU) with CHAHAYA SHIPPING AND TRADING CO. PTE LTD for initial sale of 500,000 tons of reclamation sand per year and with an objective to reach 1.5 million tons per year. Deliveries will commence, following resolve of some logistic issues, e.g. loading and anchoring.

Chahaya Shipping & Trading Co., Pte Ltd is one of the two major importers of reclamation sand to Singapore.

This MOU regulates quality issues, volumes and prices.

"I am very pleased with this strategically important MOU signed with Chahaya, which is a major purchaser to Singapore. The material is of good quality and meets Singapore´s high requirements. Currently some logistic issues need to be resolved for the shipments. This agreement will also facilitate the financing of an expansion," says CEO Thomas Lundgren.

Delta Minerals project in the Philippines
In large river basins occurs frequently flooding, especially during monsoon season, which seriously impact the population in these areas with fatal accidents and large property damages due to the eroded and accumulated sand. By removing excess sand Delta Minerals activities are contributing to important environmental and social activities. The magnetite is extracted from the sand and sold to the steel industry.

For further information please contact
Hakan Gustafsson, Chairman, hakan.gustafsson@deltaminerals.se, mobile +4670-268 00 35
Thomas Lundgren, CEO, thomas.lundgren@deltaminerals.se, mobile +4670 - 397 25 24. 

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