by Greg Klein | November 19, 2015
Electra Stone’s (TSXV:ELT) first jade sale marks an important milestone in building a vertically integrated business, the company announced November 19. Three customers in the People’s Republic of China bought a total of 1.8 tonnes of nephrite jade that was sourced in British Columbia and shipped to Shanghai in September.
“We are establishing a presence in Asia while providing an efficient, secure structure for the transport, storage and sale of nephrite jade from Canada into China,” said president/CEO John Costigan.
Earlier this month Electra announced plans to launch a subsidiary in Hong Kong to sell B.C. jade to the PRC. Longer-term plans involve selling finished jade products from China to the global market. That would have the company involved in every aspect of the trade, including exploration and extraction. Back in B.C., a summer field program confirmed jade on two of Electra’s six properties.
The company also quarries chalky geyserite, or aluminum silica, from its Vancouver Island operation for a cement manufacturer in Washington state.