In the first of several agreements, Logistica U.S. Terminals LLC, a unit of the LIT Group Network, will begin acquisition of El Capitan Precious Metals Inc.’s New Mexico mining operation, according to company officials.
Under the Master Service Agreement, the Texas-based Logistica will finance and operate iron ore mining at El Capitan while providing the company turnkey solutions, including shipment of the ore to ports where buyers will assume delivery.
“This is a significant milestone in the 30-year history of the property,” said El Capitan Chairman John Stapleton. “We have taken a huge step forward” while maintaining a minimal impact permit and tailings for future disposition.
El Capitan is a Scottsdale, Arizona-based precious minerals explorer; it’s primary asset is the 100% subsidiary-owned El Capitan property near Capitan, New Mexico. Logistica U.S. Terminals LLC handles multiple large-scale shipping assignments via highly diversified U.S. and Mexican logistical and distribution networks.