Company to begin gold exploration project in Brazil
Date added: 21st July, 2009 at 10:25
(view all articles from July, 2009)
Categories: Economy, Natural Resources
A company is set to begin exploring a new deposit of gold in Brazil that could see the country generate wealth through exports.
RiverRun Resources said it has infrastructure in place to develop the Aldebaran gold property, which is located south of Manaus City, Market Watch reports.
This province is the largest gold producing area in Brazil and the mine could produce 300 million tonnes of gold.
Early indications show that the deposits of gold - which are believed to be of a high grade in terms of quality - may be as long as 2,000 metres and up to five metres thick.
Jose Lenzi. President of RiverRun, said: "We are extremely optimistic about the development opportunity we now have in front of us. Brazil is a pro-mining country offering outstanding mineral resources."
According to Sam Hopkins of GoldWorld.com, Brazil is currently experiencing a mining investment surge, the likes of which have not been seen for 300 years.
The Sao Paulo Geological Institute states that gold production in the Latin American country is going up by 200 tonnes a year.
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