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British mining company announces investment billionaire in a megaproject that promises to position Brazil as a global leader in gold and rare earth mining.
A British mining company is transforming the mining landscape in Goiás with the announcement of a historic investment of R$1 billion. This amount will boost the operation of the Mara Rosa mine, which is now fully operational and ready for produce an impressive 80 ounces of gold per year. In addition to strengthening the region's economy, the project puts Goiás in the spotlight as one of Brazil's main gold mining hubs. With cutting-edge technologies and sustainable practices, the megaproject promises not only to generate jobs and local income, but also to position Brazil even more strongly in the global gold and rare earths market.
This initiative reflects the state's growing relevance in the mining sector, attracting new investors and fostering economic and social development.
Investment by British mining company creates thousands of jobs
Hochschild Mining, the company behind the project, has already invested a total of US$200 million in the construction and implementation of its operations in the city. With this expansion of processing capacity in gold mines, the company has increased the extraction of raw ore from 7 to 8 tons per day, an ambitious goal that should result in the production of more than 2 tons of gold and rare earths per year.
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Since it began commercial production in the second quarter of 2024, the gold mining megaproject has been operating at full steam, and has generated around 1.600 direct and indirect jobs, ensuring 12 years of useful life for the project and aiming for further improvements in efficiency, production and generation of new jobs and income for the region.
This investment by the British mining company was only possible thanks to local and state support, a factor that the company's COO, Rodrigo Nunes, considers fundamental to the success of the operation in Goiás.
Mining company plans to make new investment in gold and rare earth mines
With the first gold bar already produced in May 2024, the impact of this project does not stop there. The mining company has expanded its nominal capacity and optimized its operations for even greater production, boosting the local economy and generating new employment opportunities.
And the British mining company's expansion in Brazil is just beginning. In Tocantins, the company is close to closing a new purchase at the Monte do Carmo deposit, where it has closed a US$60 million purchase with Cerrado Gold. If it exercises the right by the first quarter of 2025, the British mining company will make an additional US$45 million investment, strengthening its position in the Brazilian gold mining market.
Another ambitious megaproject on the radar is the Carina Module in Nova Roma, Goiás. Hochschild plans to invest US$599 million to extract Rare Earth Elements from ionic clays, positioning the country at the forefront of this innovative technology.
With these investments, the British mining company transforms the interior of Goiás into a new mining epicenter, bringing growth and opportunities to the region, reinforcing its presence in Brazilian territory with gold and rare earth mines.
Brazil is among one of the largest global gold producers
The expansion of production in gold mines already in operation and the most recent discoveries of deposits of this mineral in states such as Rio Grande do Norte, Pernambuco, Tocantins and Amapá continue to attract investments that should total more than US$ 1,5 billion (R$ 8,5 billion) between 2024 and 2028.
The pace of investments, however, has been losing momentum. In 2023, the forecast was for investments of US$ 2,8 billion (R$ 15,8 billion) by 2027. This decline is due, according to the Brazilian Mining Institute (Ibram), to the conclusion of several projects that were underway. The expectation is that new projects will begin soon, maintaining the country as one of the main world producers, according to Ibram's mining affairs manager, Aline Nunes.
It is unbelievable how a **** has been haunting the country for 400 years, since its origin: the British taking gold taken from the soil and from the backs of Brazilians, who were once poorly fed slaves and are now poorly paid slaves. It is a complete disgrace. A state fraud called Brazil acting as an extension of England. And economic journalists applauding this monstrosity. For what reason, my God?
It is truly regrettable that multinational companies can be allowed to extract our wealth and there is no politician who can create a bill prohibiting foreign mining companies from exploring our soil where precious metals are found and instead authorizing only Brazilian companies to generate wealth for us Brazilians. When these foreign mining companies close down because the metal no longer exists, they leave their waste on Brazilian soil. It is a shame that our Brazil is being plundered by foreigners and while this happens the vast majority of Brazilians are in need, whether for hunger, health, etc.
It's a shame that our gold always goes to companies in other countries and Brazil becomes poorer and poorer.