SAO PAULO (Reuters) – Chinese mining company South American Metals (SAM) said on Monday that it had obtained approval from the National Mining Agency (ANM) for the Integrated Economic Development Plan (PIAE) for an iron ore project 2.1 billion dollars, forecast for the north of Minas Gerais.
The PIAE is a fundamental requirement for the mining requirement and an important step for the project. The company will now be able to pursue other steps, such as obtaining the Preliminary License, developing the basic engineering and the Installation License.
According to SAM’s engineering director, Eder de Silvio, the release of the plan by the ANM meets the legislation that regulates the process of opening a mine in Brazil.
SAM said in a statement that it will keep ANM informed every six months of the progress of the licensing process.
The Block 8 Project is formed mainly by a mining complex and a tailings dam developed using the centerline technique, which the company claims is safer than the upstream method.
The project provides for the extraction of low-grade ore (average of 20% iron) and transformation into a high-quality product, with annual production of 27.5 million tons of concentrate.
The project is committed to fostering a platform for economic and social growth in the region, said SAM.
The forecast is that 6,200 new direct jobs will be generated during the peak of the implementation phase of the Block 8 Project, and another 1,100 jobs during its operation.
(By Roberto Samora)
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