The U.S. Bankruptcy Court has ordered the sale of Marion Clay & Gravel’s 872-acre tract in Marion County containing significant sand, gravel and clay reserves.
The court has retained investment banking services company Heritage Equity Partners, in conjunction with Jax Auctioneers, to seek a buyer.
The property is situated between the Pearl River and Highway 43 in South Mississippi’s Marion County. All infrastructure is in place including roads, 3-phase power, and scales and scale house, allowing for the immediate installation of a sand and gravel plant, and barge, Heritage Equity Partners said in a press statement.
The property also has about three-quarters of a mile of frontage along the Pearl River, 40 acres of wetlands, and includes three residential dwellings.
A fully operational sand and gravel operation was previously on the site. Gravel reserves on this property include Pea, # 57, and oversize. Sand reserves are “Pearl River White” (qualifies as low grade frac sand, requires additional processing to meet ISO/API standards). The sand and gravel reserves are DOT certified in Mississippi and Louisianna. Mining permits are in place for about 15 acres.
“This is an outstanding opportunity to capture DOT certified sand, gravel and clay reserves, with the infrastructure in place to immediately install a mining operation,” said Hank Waida, a managing director at Heritage Equity Partners.
“Sand is suitable for construction, and with additional processing, for supplying to the fracking industry.”