Canadian Mining Company Will Invest R$ 54 Million in Iron Ore and Vanadium Exploration in Ceará State

Written by Roberta Souza

Published on 08/10/2021 at 10:08

Updated on 08/10/2021 at 10:09

Exploração de minério de ferro/ Fonte: Sharecast.com

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State Executive of Ceará Says Mining Company Obtained Necessary Environmental License and Is in Constant Articulation with the Ceará Government

On Wednesday (10/06), the Secretary of Economic Development and Labor, Maia Jr, announced that Jangada Mines, a Canadian mining company, will invest R$ 54 million in the exploration of iron ore and vanadium in the city of Tauá, located in the state of Ceará. The secretary also emphasized that the state of Ceará could become a reference center for mining in the Northeast in the near future. Read this news as well: Ceará Will Receive Investments of R$ 90 Billion and Can Generate More Than 5,000 Jobs with Green Hydrogen Projects

Start of Iron Ore and Vanadium Extraction in Ceará

The miner, according to Maia Jr, has already obtained the necessary environmental licensing and is in constant articulation with the state government for the signing of the memorandum of understanding that will allow the multinational to begin operations in Ceará.

Among the components sought by the Canadian mining company are iron ore, vanadium, a transition metal used in the carbon chemical industry, and titanium. The company will establish itself in the municipality of Tauá, about 320 km from Fortaleza, the capital of the state of Ceará. The expectation is that around 130 jobs will be directly generated.

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Large Annual Capacity in the Mining Project

The exploration plant anticipates an annual production capacity of 300,000 tons of ore in the first production phase. The exploration potential is much greater, and Jangada Mines intends to reach 1 million tons of ore per year after consolidating the mineral exploration wells.

As revealed by Maia, the date for the signing of the memorandum between the miner and the governor of Ceará, Camilo Santana (PT), will be announced “soon.” The secretary also highlights that the mining potential of the state of Ceará will be thoroughly investigated by a national survey by the Mineral Resources Research Company (CPRM).

The study was commissioned by the Ministry of Mines and Energy of Brazil and will focus on discovering new business potentials related to mineral exploration and energy production in the country. “This is very important for us. We are celebrating a cooperation agreement with CPRM to explore the mineral potential of Ceará. It is an honor because the state was chosen among three others, which strengthens our development potential,” Maia adds.

The arrival of the Canadian miner reinforces mineral exploration and the potential for connection with other development hubs in Ceará, especially industrial and chemical sectors. Additionally, the logistical transportation capabilities by road and also for export through the Port of Pecém have attracted other companies interested in exploring minerals in the state.

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The governor of the state of Ceará, Camilo Santana, posted on his Facebook page that he met with executives from the Fortescue Metals Group to discuss the possibility of the miner investing in the state of Ceará. Camilo also emphasized that he is seeking to attract new investments and increase job generation in Ceará.

The governor stresses that he has worked hard to attract new investments to the state of Ceará and, as a result, increase job generation for the Cearans. FMG is an Australian iron ore company. In 2017, Fortescue was ranked as the fourth largest producer of iron ore in the world, after BHP, Rio Tinto, and Vale. The miner has holdings of over 87,000 km² in the Pilbara region of Western Australia, making it the largest holder of tenements in the state, larger than BHP Billiton and Rio Tinto.

Canadian Mining Company Will Invest R$ 54 Million in Iron Ore and Vanadium Exploration in Ceará State

State Executive of Ceará Says Mining Company Obtained Necessary Environmental License and Is in Constant Articulation with the Ceará Government

Start of Iron Ore and Vanadium Extraction in Ceará

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Large Annual Capacity in the Mining Project

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