September 16, 2011
Mineseeker, through its subsidiary Aid Free Zone Southern Africa, has acquired the majority share in a coconut processing factory just outside Maxixe, the major town in Inhambane province in Mozambique.
The facility has the capacity to produce in excess of 300 tons of crude coconut oil per month, and will form the cornerstone of Mineseeker’s Aid Free Zone program in the region.
The Aid Free Zone concept of compassionate capitalism has been created to dramatically change the landscape of the global aid programme by building economically viable communities who do not rely on aid, but receive support to develop their own businesses by creating a market for their products and resources. Mineseeker will focus on establishing these communities where the population has been affected by landmines and other explosive remnants of war, and where Mineseeker core technology and expertise can be deployed to bring maximum advantage.
Aid Free Zone Southern Africa, a wholly owned subsidiary of Mineseeker Operations, will be headed up by Eric Du Plessis who has a wealth of experience in the region. Eric will report to, and work closely with, the Board of Mineseeker Operations, to ensure the delivery of the business plan.
‘With existing revenues now approaching $100k per month, we will be seeking to invest in inventory which will enable us to substantially increase production, resulting in revenues of $700k per month in 2012. We already have sales enquiries in hand that would take us beyond this existing capacity,’ commented Eric. ‘Furthermore, we are working with the regional and national government to acquire 1,000 hectares of land to expand and renew the coconut plantations, resulting in security of supply.’
‘We are extremely excited about this development’ said Edward Cross, CEO of Mineseeker Operations, ‘as together with the Mineseeker Foundation we have been working in Mozambique over a number of years. The launch of this section of the strategic plan will now take us to the next level of growth and beyond. After analysing the numerous firm orders and letters of intent, I am convinced that this business will grow substantially, and contribute a significant sum to Mineseeker group revenues.’
The Aid Free Zone concept is scalable, and Mineseeker is in current talks with other governments about how to deliver this model in post-conflict environments across the globe. Aid Free Zone products will be marketed through global retail organisations with whom Mineseeker has very strong links.
The revenue figures for the past four months are in the process of being prepared and will be published as soon as complete.