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A project with an investment of R$2,2 billion reveals the third largest gold deposit in Brazil. This mining milestone has already generated thousands of jobs and promises to transform the local economy, highlighting Brazil on the global stage.
A historic milestone in Brazilian mining appears in Pará: the discovery of the third largest gold deposit in Brazil, with a surprising investment that already generates thousands of jobs.
In the heart of the Amazon, a new golden era is taking shape. The Tocantinzinho Project, led by G Mining Ventures, revealed one of the largest gold deposits in Brazil, located in Itaituba, Pará.
With an investment that already exceeds $ 2,2 billion, this initiative promises not only to transform the local economy, but also to place Brazil in a prominent position on the global mining scene.
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Project progress and economic implications
The Tocantinzinho Project received the necessary operational licenses to begin its commercial activities in the second half of 2024.
A Environmental Agency of the State of Pará and State Secretariat for Environment and Sustainability (SEMAS) authorized the operation of the mine, processing plant, tailings facilities and the new airstrip.
With the completion of all construction activities, the mine is ready to begin operations at full capacity. According to Louis-Pierre Gignac, President and CEO of G Mining Ventures, “this final step in the regulatory approval process is a testament to the favorable business environment for mining in Brazil and our team’s commitment to excellence.”
The magnitude of the project
Tocantinzinho is a licensed gold deposit, which will be explored by an open-pit mine, with estimated reserves of 2 million ounces of gold.
Located at 108 km from Moraes de Almeida, district of Itaituba, access to the project is via the Transgarimpeira highway.
In the implementation phase, the project employs around 2.000 people, while in the operational phase, will be approximately 600 jobs direct. The mine's useful life is estimated at 10 years.
Production process and sustainability
The gold extraction process involves several steps, from extraction of ore in the pit until the separation of gold in a processing plant.
The separated gold will be converted into bars, destined for the national and international market. The waste will be treated in specific dams, strictly following the new dam legislation of the National Mining Agency (ANM).
At the end of exploration, the tailings will be used to fill the pit of the mine, minimizing the environmental impact. It is important to note that there will be no need for relocation of communities or resettlement of indigenous populations, as there are no communities near the project.
A story that dates back to the 1970s
The history of the Tocantinzinho area dates back to the 1970s, in the Tapajós region, where the biggest gold rush in the history of Brazil took place.
According to National Department of Mineral Production (DNPM), the region produced between 20 and 30 million ounces of gold of alluvium. In 2010, after negotiations, the area was acquired by Eldorado Gold Corp and is currently part of the portfolio of G Mining as a strategic asset.
Impact on the local community with the Tocantinzinho Project
The project has as one of its priorities local hiring, with 60% of the workforce originating from the region.
Furthermore, Brazauro, a subsidiary responsible for local execution, continually invests in training and development of workers' skills, aiming to strengthen the regional economy.
Therefore, with an investment that already exceeds $ 2,2 billion and a significant potential to generate wealth and jobs, the Tocantinzinho Project is consolidated as a milestone in Brazilian mining. This venture not only reinforces the importance of Pará on the national scene, but also opens doors to new opportunities for development and sustainability.
And do you think Brazil should encourage more mining projects, even with the environmental challenges involved? Leave your opinion in the comments!
Oque não dá pra acreditar é.pq uma mineradora de fora.. aí o povo garimpa o ouro e entrega de mão beijada pra estrangeiros… Da o ouro em troca de trabalho ué kk não faz sentido
Mais uma vez o Brasil entregando suas riquezas a Compania Internacional ex. Eldorado Gold Corp. Sacanagem.
Lamentável para o nosso país, ainda escravo da exploração. Poderia guardar essa riqueza e se preocupar em investir em educação , tecnologia, saúde e segurança.
Aí jaz Amazonas, seria o pulmão do mundo. Agora perde seus valores…..
Só mudou monarquia para república continua exploração nossas riquezas em prol minoria e a corrupção fico triste cheguei casa dos 60 anos vejo país cada vez mais regredir sem futuro para filhos e netos