Hackensack, New Jersey-based All Grade Mining, Inc., a development-stage company focused on Chilean iron ore extraction, announced Thursday that is has purchased the Salitrosa mining concession in Chile. It is anticipated that the property has an iron ore reserve in excess of 50 million tons.
In a press release, All Grade Mining CEO Gary Kouletas said that the company believes the Salitrosa property is "logistically capable of mobilizing 100,000 tons of iron ore per month, both in country and to port."