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Brazil Minerals Secures Permission to Mine Diamonds at a New License

Jul 13, 2015 12:57 PM   By Jeff Miller
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RAPAPORT... RST Recursos Minerais Ltda., a subsidiary of Brazil Minerals Inc., secured a permit  from local authorities that is valid for four years to initiate diamond and gold mining. Brazil Minerals is now preparing the ground work to begin mining within 30 days in order to assess local concentrations of diamonds and gold and that data will form the basis for additional reporting to local regulatory agencies.

Most of the 22 mineral rights areas that RST operates  previously belonged to Tejucana, which mined diamonds with dredges within the Jequitinhonha River, according to the firm; but current environmental regulations no longer permit this activity. Brazil Minerals stated that geological analysis has shown that the Jequitinhonha River's course has shifted significantly over the past millions of years, so areas that are inland from the water source today could have been at the bottom of the river in the past. For this reason, Brazil Minerals  believed that inland areas of the valley of the Jequitinhonha River also contain attractive amounts of diamonds and gold.


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