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The Largest Gold Mine in Brazil Is Getting Back on Track. Understand the Case of the Largest Brazilian Gold Mine That Could Generate up to 5 Tons, Boosting the Mining Sector in Brazil.
The SEMAS-PA (Secretary of State for the Environment and Sustainability of the State of Pará) was appointed as the competent authority to license the Volta Grande Gold Project, the largest open-pit gold mine in Brazil, following a ruling from TRF1 (Federal Regional Court of the 1st Region). With this decision, Belo Sun’s shares reached their highest level in 52 weeks, with a gain of 58.8%, bringing the company’s market capitalization to around US$ 37 million, boosting the mining sector.
The Largest Brazilian Gold Mine Regains Momentum
In a court ruling from September 2023, the environmental licensing authority was changed from SEMAS to the Brazilian Institute of Environment and Renewable Natural Resources (IBAMA). Thus, the files for the largest open-pit gold mine in Brazil are now being transferred back to SEMAS following the decision, and the advancement of the PVG starts to gain momentum.
Before the decision in September 2023, SEMAS had been conducting the licensing for the largest Brazilian gold mine and, in this capacity, issued the Preliminary (LP) and Installation Licenses (LI) for the project in 2014 and 2017, respectively.
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Despite the LI still being suspended, the LP was revalidated by the agency (SEMAS) in 2022 after approval by the National Foundation of Indigenous Peoples (FUNAI) of the Indigenous Component Study (ECI) of the Company.
According to Ayesa Hira, interim president and CEO of Belo Sun, the agency is already familiar with the project and has been working on the licensing of ventures in the mining sector in this essential jurisdiction in the state of Pará.
The Largest Brazilian Gold Mine Will Have a Capacity of 5 Tons Annually
Belo Sun already has a transparent relationship with SEMAS and expects to work with the agency to advance the licensing process for the largest open-pit gold mine in Brazil in accordance with all relevant laws and regulations, for the benefit of all stakeholders, especially the Indigenous Peoples and local communities.
Ten years ago, the company completed the Feasibility Study of the largest Brazilian gold mine, located in the city of Senador José Porfírio, in Pará.
The mining project involves a gold mine in Volta Grande do Xingu, with an estimated production of 5 tons per year and lower quartile operational costs, within responsible and sustainable mining practices, in addition to an investment exceeding R$ 1.2 billion.
The lifespan of the largest open-pit gold mine in Brazil is estimated at 12 years, which could extend, as mining in the region has great potential.
Differential of the Largest Brazilian Gold Mine
According to Belo Sun, another highlight of the project is that its water demands will be met by a project to ensure that no water is withdrawn or discharged into the Xingu River. In 2003, the mining company took control of the project and, in 2015, completed the feasibility studies.
Nine years later, in 2024, it became aware of a complaint sent by NGOs to the United Nations Special Rapporteur on Human Rights regarding intimidation and abuse of economic power to illegally acquire agrarian reform lands, violating the rights of those living in the region.
According to the company, the PVG is supported by the Ministry of Mines and Energy, local authorities, Indigenous leaders, and the peoples from the two main Indigenous territories, as well as from the villages of Ressaca, Galo, and Ilha da Fazenda, in the area of influence of the largest open-pit gold mine in Brazil.
Pq sera foi liberada so agora deve ta querendo roubar mais stf e lula vai tentar comprar usa com mina ouro kkkk vao vender pra eles pq governo so tem **** e taxador imposto pra pobres kkkk
O ser só destrói!
Então j.j quem é pobre vai pro céu? E quem é rico vai pro i****?
Fiquei na dúvida.
Vc pode mim ajudar?