US Rare Earth Minerals, Inc. Announces Vietnam Distribution Success
US Rare Earth Minerals, Inc. (OTCQB:USMN) announced that its international distributor, International Business Alliance, LLC (IBA) has obtained a permit from the Vietnamese government allowing them to distribute and sell EXCELERITE(R) throughout that country. IBA has also secured warehouse facilities and a permit to import EXCELERITE(R) into Vietnam. IBA has placed an initial order for 50 metric tonnes of EXCELERITE(R) with USMN for immediate shipment to Vietnam.
The President of USMN, Dennis Cullison, stated, "Entering the Agricultural Industry in Vietnam is usually a 3-5 year process and costs several million dollars, yet, IBA has obtained entry approval. This was due to their years of import/export experience and development of important contacts in Vietnam.” He further stated, "South Asia is the world”s second largest consumer of fertiliser in the world and East Asia is the world”s largest fertiliser producer and consumer.
Vietnam will need to import about 2.63 million tonnes of fertilisers this year because domestic production can only meet 73 percent of the estimated demand of 9.88 million tonnes.” Tieno Huynh, CEO of IBA, said, "I will be returning to Vietnam shortly to meet with some of the world”s largest agriculture products distributors to sign contracts. IBA”s intent is to import EXCELERITE(R) into Vietnam to assist in improving the soil, increasing the nutrition levels and improving the farmer”s yield. We anticipate large orders following the disbursement and use of the first 50 metric tonnes of EXCELERITE(R).”
