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Brazil Minerals Dramatically Increases Mineral Rights Acreage

Jun 25, 2014 2:14 PM   By Jeff Miller
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RAPAPORT... Brazil Minerals Inc. added two mineral rights for diamonds and gold to its portfolio, adding 2,371 acres for total exploration program coverage of 3,775 acres. There was no stock issuance related to these transactions, according to the company. The rights are located in the Jequitinhonha River valley, near the mining concession and plant for Brazil Minerals' subsidiary, Mineração Duas Barras Ltda. (Duas Barras). 

The company stated that it intends to continue selectively obtaining mineral rights for diamonds and gold near Duas Barras, where production is ongoing.

Marc Fogassa, the chairman and CEO of Brazil Minerals, said,  "Just like an oil company periodically increases its reserves, whenever feasible we will augment the areas we have for diamond and gold exploration. Our goal is to continue to build a collection of valuable assets with mineralized material to allow the Duas Barras plant to process gravel and recover diamonds and gold for decades to come."


 

Tags: brazil, diamonds, gold, Jeff Miller, minerals, mining
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