There has been much discussion of late in relation to the granting of the mining licence and when it will be issued. I don’t profess to be an expert in the Brazilian mining game so the only thing that I can use to arrive at my own assumption of when it is likely to eventuate is to have a look at others who have gone through the process.
I have researched about a dozen companies that have been awarded the much coveted 400 entry that everyone is waiting on, looking at the time differential between the awarding of the licence and the DNPM entry before it. Of the entries that I have looked at there has been a significant gap leading me to believe that we are unlikely to see the FML awarded this month.
The shortest gap that I could find was 4 weeks on a Vale tenement. I am quite happy to be proven wrong on this so if anyone has other examples where this has occurred quicker please shoot me down otherwise I am looking for the quarterly to provide guidance on when they expect it to be issued along with what impact this will have on commissioning of the plant.
AVB Price at posting:
10.5¢ Sentiment: None Disclosure: Held
