All right, I fixed it so it reads better, been at this since 6am.
Near the area of Serra Pelada, which marked the start of the race in Brazil to gold in the 80s, a group of foreign investors supported the construction of a copper mine, although not as representative of the international market, demonstrates that it is possible to start projects in the industry, even with the recent depression in commodity prices. Avanco Resources, an Australian company whose sole activity is this unity, this week began shipment of its products, the copper concentrates after nearly nine years of study and construction. The company in a market debut time when most analysts now believe that the metal price came to "Bottom" that is, the perspective is the beginning of recovery. Were nearly nine years studying the deposit and preparing the construction of the mine Antas North in Curionópolis in Pará. The production capacity is 45 000 tons of copper concentrates, with the potential to produce 12,000 tons Metallic copper and 7,000 ounces of gold per year. Been spent so far $ 55 million, most injected by the management of American resources BlackRock, and a expansion is already planned for Blue Water, in the same region Pedra Branca project. "What we need is the resources to play the new project," explains Luis Azevedo, diretorexecutivo the Advancement. "There, the mine will be underground, the first of Stop, but we need some assurances from the government, "he adds. Among the problems encountered, it is labor legislation prohibiting the work Mine type for more than six hours. "Sometimes it takes 45 minutes just to get the workplace.
"This expansion has the potential to produce triple Antas North. Investment must be of similar order, compared with the unit Curionópolis US $ 165 million. "We want to be leaders in underground exploration Carajás, "says Anthony Polglase, president of the Australian group. The project It is currently in the study phase. Advancement has traded in **promotion blocked** Sydney and the largest shareholder is the Appian Natural Resources, mining investment fund Mineral, 19.2%. The Greenstone has 16.69% and BlackRock World Mining, 12.86%. THE trading and mining company Glencore owns 8.27% actions of the Pedra Branca project was purchased in 2012 Xstrata, mining acquired by Glencore. But BlackRock's contribution was more significant and the fund manager won the right to royalties from the sale. "We invest because geology had potential and the area around supports mining, "said Evy Hambro, fund manager of BlackRock. "In addition, the staff was hired good technical quality to generate value to the asset. " Avanco plans to have revenues of approximately US $ 35 million already in 2016, but in 2017, when work at full capacity throughout the year, as believed able to increase the figure to $ 50 million. Improvements in unit can take it produce up to 18 thousand tons of copper. Volumes will be all for Asia. The idea of Advancement is part of another wave of mining, and specifically of Pará, of medium-sized companies. Carajas is quite known to be an area dominated by Vale, and a place where the S11D project, the largest iron ore in the world, is to start its activi
Among the measures that allowed lower level of expenditure than
normal is the use of some second-hand machinery in the construction and exploitation of
Antas mine. In addition, the Australian company was able to draw his
project with experienced professionals, but they were available on the market
after it ended supercycle commodity. Negotiations with
federal and state governments at a time when the Pará tries to accelerate
mineral development, they were also more productive.
"We also had to adopt a more conservative stance on the cost side
after we saw the fall in copper prices, "said Azevedo." With the start of
operation now, the opportunity is created to benefit from recovery of
commodities, "says Hambro, BlackRock." It was good until the price falls as it was
pre-operational, so the company has not ceased to earn revenue during the
process."
Also part of the current strategy of Pará to add value to products,
local authorities charged the Advancement move towards verticalization to
production. The problem is that one of the metal processing of by-products is the
sulfuric acid, polluting and very small market for sale. "We need
break this barrier [vertical integration], "asked Eduardo Leão, geology and director
Mining Department of Economic Development, Mining and Energy
(Sedeme) Para.
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