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A historic city in the heart of Brazil is about to be transformed by a billion-dollar investment! The region will be the epicenter of a grand gold mining project, led by Hochschild Mining, which promises to inject R$1,4 billion into the local economy and create around 2 jobs.
In the heart of Brazil, a historic city is about to experience a unprecedented economic transformation.
With roots dating back to the 17th century, when Portuguese explorers explored its natural riches, this location is now preparing for a new cycle of development that promises to change its destiny.
Monte do Carmo, located in the central region of Tocantins, will be the site of an ambitious gold mining project valued at approximately R$1,4 billion (US$250 million).
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The initiative, led by Peruvian mining company Hochschild Mining, is expected to generate around 2 direct and indirect jobs in the region.
The city, which according to the latest IBGE Census has 5.694 inhabitants, is located just over 90 kilometers from the capital, Palmas.
Billion-dollar investment and job creation
According to G1 portal, the project to implement the gold mine in Monte do Carmo was acquired by Hochschild Mining for US$ 60 million and is currently in the licensing phase.
In a recent meeting at the Araguaia Palace, Governor Wanderlei Barbosa (Republicans) highlighted the importance of the project:
“I am very pleased to be able to help with the initial implementation of this exploration project. The government of Tocantins is available to help promote the wealth and development of Monte do Carmo, and what we want is for this development process to reach all nearby locations.”
Hochschild Mining COO Rodrigo Nunes explained that the operating period is estimated at 12 years, with a processing capacity of 6 tons of ore per day. He highlighted:
“We are 100% satisfied with the full support of each of the public institutions involved to advance the project in the most sustainable and efficient way possible.”
Local economic transformation
The state government says the investment is an “ambitious bet” and positions the Monte do Carmo Project as potentially the largest gold mining operation in the history of Tocantins.
The president of the Tocantins State Mining Agency (Ameto), Milton Neres, believes that the initiative will transform the local economy:
“We are working to promote, regulate and monitor the mining production chain, and Tocantins presents results that show the potential.
Following the example of Hochschild’s arrival in our state, this is a historic achievement that promises to change the economic scenario of the Monte do Carmo region.”
Next steps and expectations
After the project is acquired, the next step will be to issue the Forestry Exploration (EF) authorization concessions.
With this authorization, the project's Installation License (LI) must be granted. There is still no set date for the start of operations.
About Hochschild Mining
Hochschild Mining is a company focused on the production of precious metals, such as gold and silver, with over 110 years of existence.
It currently has three operations: one in Peru, which is the group's main one; one in Argentina, the San José mine; and the most recent Mara Rosa unit, in Goiás, Brazil.
Mining history in Monte do Carmo
Historical records indicate that Portuguese bandeirantes arrived in the Monte do Carmo region in 1640, beginning gold extraction activities in the stream later known as Água Suja.
These activities continued until the 18th century.
For experts, the gold mining project in Monte do Carmo represents a significant opportunity for economic development to the region, bringing substantial investment and the promise of job creation.
However, it is essential that the project is conducted in a sustainable manner, respecting the environment and promoting the well-being of local communities.
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