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Brazil acknowledges Avanco Resources

Brazil acknowledges Avanco Resources

Photo by Reuters

8th January 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Copper developer Avanco Resources has moved a step closer to gaining a full mining licence for the Stage 2 development of its Pedra Branca copper project, in Brazil, after the government approved the Stage 2 mineral resource.

Stage 1 of the development would see the smaller Antas North project deliver about 12 000 t/y of copper and 7 000 oz/y of gold.

Avanco said on Wednesday that the approval of the Stage 2 mineral resource was an important milestone in paving the way for further regulatory approval, and supported the scope, quality and results of exploration, providing confidence that the project could support mining activities.

The Stage 2 Pedra Branca project was currently estimated to host some 46.8-million tonnes of ore for some 560 000 t of copper, 500 000 oz of gold and more than one-million ounces of silver.

The project was being advanced to a decision to mine by mid-2015.

Stage 2 development could see the production move to between 40 000 t/y and 50 000 t/y of copper metal.

Edited by Creamer Media Reporter

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