Ann: New Serendipidade Cu-Au Prospect Identified at Salobo West, page-35

The Anglo exploration information was submitted to the regulators in late Aug 2008 and in Dec 2008 Anglo announced, due to deteriorating economic/commodity conditions, a more than 50% reduction in 2009 cap-ex (Anglo Announcement 17/12/08 - 'Anglo American reduces 2009 capital expenditure by more than 50% to $4.5 billion', first paragraph reads - 'Anglo American plc has completed a wide ranging review of its capital expenditure programme in recent weeks, at a time when the mining industry has experienced an unprecedented period of rapid declines in commodity prices due to global economic uncertainty. Such circumstances present a very different near term outlook and a clear need to adjust the Group’s investment plans.')

Possibility that in this climate, exploration targets like this weren't a priority and crudely put in Brazil with an exploration license, 'you don't use it you lose it'.