Black Sea Metals Inc. enters the race for first heavy rare earth processing plant outside of China.

21.06.2012/80/XNUMX Manhattan Beach, CA - Black Sea Metals Inc. (OTCBB: BLAK, BSM.BE) (the “Company”) announces a strategy change and plans to build the first heavy rare earth (SSE) processing facility outside of China . The company wants to shift its focus more towards processing. The $ XNUMX million project is expected to be realized in the Black Sea region near an already identified resource for SEE.

The new management team at Black Sea Metals Inc. has succeeded in securing access to SSE processing technology and know-how in recent months. The company is planning a joint venture with a group of experienced engineers and chemists who have already successfully produced pure SSE oxides on an industrial scale.

The launch of large-scale production of light rare earths (LSE) by major non-Chinese competitors such as Molycorp (USA) and Lynas (Australia) in the next few months required a realignment of the company and its activities away from LSE to SSE and along the value chain from exploration towards processing.

Alastair S. Neill, new CEO of Black Sea Metals Inc. and one of the few internationally recognized experts in SSE processing: "The complexity of the task of producing high purity SSE oxides according to different customer specifications will separate the wheat from the chaff in this market. To produce a marketable product requires not only the right raw material, many approvals and even more money, but above all the know-how needs to make the process economical. If you make mistakes here, you quickly lose millions of dollars. "

Black Sea Metals Inc. will formalize the details of the proposed joint venture by the end of the month in a MOU (Memorandum of Understanding). The company plans to start production in the Q4 2014.

Contact:
Black Sea Metals, Inc.
Chief Executive Officer
Alastair S. Neill, 424-247-9261
www.blackseametals.com

No liability is assumed for the accuracy of the translation! Please note english original message!

The original English message can be found at:

Black Sea Metals Press release in the original text

This news release contains certain "forward-looking statements" as defined in Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. The statements in this press release that are not purely historical in nature are forward-looking statements that contain statements regarding beliefs, plans, expectations or intentions about the future. Such forward-looking statements include, among other things, the cost of the project. The actual results may differ from the forward-looking statements made here due to numerous factors. Such factors include, but are not limited to, uncertainties related to new business opportunities, the possibility that the company may not be able to raise the funds necessary to complete the project. These forward-looking statements were made as of the date of this press release. We do not assume any obligation to update these statements or to update the reasons for possible deviations from the assumptions made here. While we believe that all of the assumptions, plans, expectations, and intentions in this press release are reasonable, there are no guarantees that such assumptions, plans, expectations, or intentions will prove to be correct. Investors should therefore take all the information listed here into account with the necessary caution. The risk factors are also referred to in our annual reports on Form 10-K, in our quarterly reports on Form 10-Q, and other periodic reports. Unless required by law, the company assumes no obligation to publicly update any forward-looking statements, regardless of whether they relate to the information provided here, future or other events.

Please follow and like us: