Chilco River Holdings Acquires Major Stake in Mexican Iron Ore Producer and Exporter Leuffer Desarrollos S.A. de C.V.

Leuffer Mining Exported 1,347,438.14 Metric Tons of Iron Ore in the last 3 years

CHATSWORTH, CA / ACCESSWIRE / October 6, 2023 / Chilco River Holdings, Inc. ("Chilco River") (OTC PINK:CRVH), a multi-faceted holding company focused on developing high growth businesses within diverse industries, announced today the acquisition of Leuffer Desarrollos S.A. de C.V, a Mexico-based exporter of iron ore to the United States, China and Hong Kong. Leuffer has been growing its iron ore shipment volumes for 7 years and acquiring more than 10 mining concessions (leases) to be operating in crucial developing Mexican mining plans near to biggest port facilities. To date, Leuffer has shipped over 94% of its aggregate shipments to China. In addition, about 4% of its total shipments arrived in Hong Kong. The remainder of the shipments have been sold to various producers in the United States. Leuffer Desarrollos S.A. de C.V, specializes in producing and exporting high-quality iron ore lumps with a 62% quality, crushed ¾ to fines, in dry basis (basic commodity).

Mexico is the 12th largest producer or iron ore in the world, with potential and growing every year, to become top 5 in the coming 2 to 3 years. Currently, Australia is the largest producer of iron ore followed by Brazil and China. The major producers in the global iron ore mining market are Vale SA, Rio Tinto, BHP, Fortescue Metals Group Ltd (FMG), and Anglo American Plc. Although Mexico produces about 3% of the world's iron ore, its strategic location, weather, economic conditions and skilled workers advantages to increase its total production to service world markets such as China, USA and others. Leuffer has exported over 1.3 million metric tons of iron Ore to China, Hong Kong, and the USA between 2019 and 2022. The company currently possesses federal registration permits, and the required special exportation permit registered with the national tax authority in full force and effect for mining operations, registers, permits and licenses in force since their mining operation is cautiously designed to protect environment and communities. Leuffer remains only one of 3 companies in Mexico to export iron ore out of the country.