Portuguese 
English 
Spanish 
4 min of reading 
20 comments 
Furnas Project by Ero Copper May Become a Large-Scale Underground Copper and Gold Mine. Initial Estimates Indicate Huge Mineral Potential with Significant Economic Impacts for the Region.
In the vastness of the Amazon, something big is about to happen.
The Furnas project, a copper and gold deposit located in the Carajás Mineral Province in Pará, could be the key to a true economic revolution in the region.
However, what exactly is behind this discovery that could transform the mining landscape in Brazil and generate thousands of jobs?
-
At a depth of 4 kilometers, with 90-minute descents and heat exceeding 60 °C, an operation only continues to function thanks to the pumping of liquid ice: how far can the endurance of workers in the deepest mine on the planet go?
-
It looks like Australia, but it’s Pará: the Amazonian city that became one of Brazil’s largest copper hubs and entered the global route of critical minerals for the energy transition.
-
While the USA goes to the Moon in search of energy, China silently explores an abundant stone on Earth capable of generating energy for the next 60,000 years.
-
An excavation the size of an entire city has opened a hole of 44 km² in Germany, descending nearly 300 meters below sea level and creating an “artificial scar” so colossal that it can be seen from space while continuing to advance over everything around it.
The mineral resource estimate announced by Ero Copper Corp. highlights the project in the sector.
According to the company, the deposit has the potential to become one of the largest underground copper and gold mines in the country.
According to National Instrument 43-101, the initial estimate of indicated mineral resources reaches 35.2 million tons, with a grade of 1.04% copper and 0.69 grams of gold per ton, resulting in about 364,700 tons of copper and 775,300 ounces of gold.
For inferred resources, the estimate reaches 61.3 million tons, with a grade of 1.06% copper and 0.63 gpt gold, representing 647,400 tons of copper and 1,235,600 ounces of gold.
Impact and Expectations of the Project
David Strang, CEO of Ero Copper, expressed enthusiasm about the potential of Furnas. “This initial estimate provides us with a solid foundation to further explore the potential of this mine”, he stated.
The plan now is to advance drilling in the first phase of the project, aiming to improve the definition of high-grade mineral zones and extend the depth of mining, which currently reaches 300 vertical meters below the surface.
But, what is the impact of this for Brazil? The project promises not only to extract valuable resources, but also to create jobs, infrastructure, and sustainable economic development opportunities in the region.
According to Strang, Furnas could become a large-scale underground mine, benefiting the local economy and reaffirming Brazil as one of the leading global players in the production of essential minerals.
The Partnership That Could Change Everything
In July 2024, Ero Copper signed an earn-in agreement with Salobo Metais S.A., a subsidiary of Vale Base Metals (VBM).
This agreement gives Ero Copper a 60% stake in the Furnas project, provided the company meets certain exploration and development targets over five years.
The partnership with Vale is strategic, as the mining company has the infrastructure and know-how that can accelerate the exploration and development of the deposit.
The agreement also stipulates that Vale will receive up to 11% of “free carry” on future capital expenses if the mine reaches the construction phase.
This type of agreement strengthens Brazil’s position in the global minerals market, focusing on sustainable and low-carbon practices, which have become a priority in industrial and environmental policies.
Infrastructure Ready for Growth
The Furnas project does not start from scratch. It already has over 90,000 meters of historical drilling conducted by companies like Vale and Anglo American plc.
Additionally, the location of the deposit is extremely favorable. About 15 km from the area are connected to a robust regional infrastructure, including paved roads, a large-scale cement plant, a power substation, and a freight loading facility operated by Vale.
This level of existing infrastructure makes Furnas a highly attractive project for investors and for the rapid development of the operation.
The proximity to the Tucumã plant, also operated by Ero Copper, can accelerate the implementation of already tested technologies and methods, optimizing the exploration process and minimizing costs.
The Future of Furnas and the Legacy of Mining in Brazil
With the start of drilling and development activities, the expectation is that Furnas will become one of the most important projects in Brazilian mining in the coming years.
The promise of transforming the deposit into a large-scale underground mine places Brazil in a prominent position in the global market, especially in supplying essential minerals like copper and gold.
Ero Copper and Vale are committed to following sustainable mining practices, seeking to minimize environmental impact and maximize economic benefits for the region and the country.
As a result, the projection is that Furnas will not only generate jobs but also drive the development of new technologies and mining practices that can be replicated in other parts of the world.
Now, the question remains: to what extent can this project impact the economy of Pará and Brazil as a whole? Is mining still the answer for sustainable economic development in the country?
Se não tem empresa nacional para fazer a transformação do minério em produto para ser vendido somente no território nascional para os brasileiros em primeiro lugar então vai ser só um desperdício de recursos que os estrangeiros vão colocar a mão a preço de capim. Com investimento insignificante que não vai ser usado para promover a expressão das empresas relacionadas a mineração logística e fabricação de materiais nacional.
Pena que quem conduz o projeto é um monte de ladão!
Ah, que ladão destruidor de projetos! Se não fosse por ele, Furnas seria um paraíso de ouro e cobre!
Essa ERO só ladrãozinho
Essa exploração mineral vai toda para Canadenses e Australianos, esse povo acha que brasileiro é estúpido.
E os canadenses e australianos acham que brasileiro é estúpido? Que coisa mais engraçada! Afinal, eles investem em projetos que prometem gerar empregos e impulsionar o desenvolvimento econômico sustentável no Brasil. Eu acho que a burrice deve estar do lado deles.
Eles não acham, tem certeza!