Brazil Announces New Round of Offers for Mining Exploration
Bnamericas reported that Brazilian mining regulator ANM recently announced a new round of offers for exploration areas. A total of 1,641 new areas will be offered and parties must express their interest by August 17. If there are two or more interested parties ain the same area, an electronic auction will take place, and the highest bidder will win. The auctions, if necessary, will take place in August and September
The round is the fourth for exploration areas. Since last year, when ANM started the process, 11,776 areas have been made available, totaling around 10.6Mha.
The government is offering the exploration concessions in an effort to attract investment and diversify the mining sector. Brazil is highly dependent on relatively few mining products, with iron ore representing two-thirds of sector revenue, followed by gold and copper.