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With global relevance in the mining sector, Brazil still suffers from the lack of infrastructure in this segment, and the North Star company stated that the sector could generate more jobs and move the economy with new precious metals refineries.
The mining sector scenario for this Sunday, (06/26), is still quite favorable regarding the Brazilian market, but it needs new investments in infrastructure. This is what the gold beneficiation company North Star claims, warning about the need for new precious metals refineries in the national territory to boost the country’s economy and ensure new job opportunities for the population.
Brazil Still Suffers from Lack of Precious Metals Refineries and Could Use the Construction of Structures to Boost the Economy, Says North Star
The mining sector is still one of the largest in the Brazilian market currently, contributing 5% to the Brazilian Gross Domestic Product (GDP), generating jobs and economic activity all the time in the country.
However, although the segment has a strong responsibility for economic growth in the country, mining still needs new investments in infrastructure, especially in the precious metals sector, where the need for new refineries for the processing of products is urgent.
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Historic bankruptcy of Centauro shocks the market, and the century-old company puts more than 500,000 products, machines, and complete infrastructure up for online auction.
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Brazil extracts 26.3 million tons of ore from what was previously treated as waste, transforming residues into wealth, producing over 3 million tons of sand, and demonstrating how national mining is relearning to generate value.
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A $3.5 billion megaproject in Latin America pumps desalinated seawater at 1,050 liters per second over 194 km to keep a copper supermine in the Andes operational for another 20 years.
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New shoe factory in Ceará is expected to create 400 jobs and strengthen the local economy.
And investing in the establishment of new refineries for precious metals production could bring new directions for the Brazilian economy in the mining sector, according to the gold exploration company North Star.
This is because the precious metals sector has been growing significantly in recent years in both national and international markets, and with new refinery proposals in Brazil, a series of new businesses could be established in the country, generating jobs and boosting the economy. However, the Brazilian government still remains negligent regarding the sector and has no prospects for investment application in the field.
In this context, Maurício Gaioti, president of North Star S.A, warns about the benefits of new refineries and states: “Refineries would bring us the possibility of transforming raw material, here, on national soil, into refined material, to be used in various industries, including internally. Technology, jewelry, financial and banking — many industries would benefit. You have a material, a standard of excellence, internationally accepted, and it is already a certainty of the quality of that ore, it is no longer a doubt about the raw material or what will actually be found within that material.”
Extraction of Precious Metals Still Brings Uncertainties in the Mining Sector, but Beneficiation in Refineries Ensures the Necessary Security for Companies
One of the biggest problems in the precious metals mining sector in Brazil currently is the uncertainty and insecurity in the production of these materials. This is because it is only possible to make estimates of the final value of the raw product, without having certainty about what the market price will be, which prevents many companies from entering the sector.
In this way, only the refinery can achieve the degree of purity and add to that metal, already with a high degree of refinement.
Therefore, the establishment of new refineries in Brazil would allow vertical growth in the precious metals sector in the country, with greater added value to the product, which would bring even greater movement to the economy. Additionally, the chain of job opportunities would grow significantly, as the workforce becomes increasingly specialized in the field over the coming years.
Now, what North Star hopes for is that discussions around precious metals refineries in the country can grow with the national government over the coming years, providing construction projects for new structures so that the national mining market can benefit from business opportunities.
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