Brazil Minerals Granted Addition of New Mineral Entity to its Mining ConcessionJanuary 22, 15
(IDEX Online News) –
(IDEX Online News) –Diversified gold and diamond miner Brazil Minerals, Inc. (BMIX) reports that Brazil’s Mining Department (DNPM) has approved the addition of sand as a mineral entity to the diamond and gold mining concession held by BMIX’s Brazilian subsidiary, Mineração Duas Barras Ltda. (MDB).
It is estimated that MDB possesses over 200,000 tons of high-quality industrial-use sand in one location and additional areas within its concession with lesser amounts.
According to MDB, cash flows from sand are independent from its diamond and gold operations and it is easily obtained with very low extraction costs. MDB’s high-quality sand is sought after for use in civil construction and preparation of multiple materials.
BMIX is considering various ways to exploit this additional mineral right.
MDB owns mineral rights encompassing approximately 1,404 acres located in the valley of the diamondiferous Jequitinhonha River, including a fully-operational mining concession with the largest alluvial processing plant for diamonds and gold in Latin America. MDB also has the permit to export its production of rough diamonds as well as its own cut and polished diamonds.