SAN DIEGO--(EON: Enhanced Online News)--LUSTROS, INC. (OTCQB:LSTS) Lustros Chile SpA announced today that its subsidiary, Sulfatos Chile SA, has completed its first sale of Pentahyrdate Copper Sulfate. The buyer is located in Buenos Aires, Argentina. The sale also allows the company to file documentation needed to recoup in excess of $600,000 of Valued Added Tax (VAT) that was paid during the plant construction phase.
“This is a moment of celebration for our employees and all other people involved in the project. After 33 months and over $11 million invested, our world class facility in Chile has begun selling Copper Sulfate”
28,480 kg were sold as industrial grade but the specifications in terms of purity, humidity and PH comply with food grade levels. As subsequent batches are produced, the high quality Copper Sulfate will eventually differentiate Lustros in the market and command higher prices. The plant capacity is 3 times its original design and is capable of processing up to 15,000 tons of mineral per month, resulting in approximately 720 tons of copper sulfate per month. The application to process up to maximum capacity will be filed with mining authorities in the fourth quarter of 2013.
“This is a moment of celebration for our employees and all other people involved in the project. After 33 months and over $11 million invested, our world class facility in Chile has begun selling Copper Sulfate,” said Gonzalo Troncoso, CEO of Lustros Chile SpA.
High grade copper reserves are decreasing worldwide. This reality prompted Lustros to develop copper sulfate (CuSO4), a value-added product directly derived from copper. One kilogram of copper yields approximately four kilograms of Copper Sulfate.
Copper sulfate has various rich fundamental properties that make it a useful commercial chemical. It is widely used as a fungicide, herbicide and pesticide as well as an analytical reagent. Demand is increasing rapidly for use as a healthy additive to animal feed to induce hunger naturally.
“With this initial sale to Argentina, the company has achieved a very significant milestone towards its goal of becoming a world class global supplier of feed grade copper sulfate. We are now in production and producing high grade copper sulfate. We remain focused on further developing the sales program and the company’s expansion plans,” added William Farley, CEO of Lustros, Inc.
There is strong interest from companies in Brazil, Canada, Colombia, Peru, and Chile to purchase Feed-Grade Copper Sulfate in quantities exceeding Lustros’ potential production capacity.
A comprehensive list of uses for copper sulfate is available at: http://www.copper.org/applications/compounds/table_a.html
About Lustros, Inc.
Lustros, Inc., through its Chilean subsidiaries, is in the business of copper mining and the manufacturing of food-grade copper sulfate. Lustros has a majority equity position in Sulfatos Chile S.A., which owns the Anica Copper Mines as well as a copper sulfate production project and employs a highly experienced staff of mining professionals. Lustros, Inc.’s subsidiary Mineraltus SA is a Chilean corporation that will process tailings (waste products) of expired copper mines to secure the raw materials to manufacture high quality, feed-grade copper sulfate.
Safe Harbor Statement
This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.