Belo Sun says its Volta Grande gold project selected as strategic for Brazil
(Kitco News) - Belo Sun Mining (TSX: BSX) announced Friday that its Volta Grande gold project has been selected by the Brazilian Government's Mines and Energy Ministry for the Investment Partnership Program.
According to the company’s statement, the PPI program supports projects that are deemed as strategic mineral projects for Brazil.
The PPI program was created to support companies involved in the exploration and mining of a variety of commodities, including gold, iron ore and battery metals such as lithium, cobalt and nickel.
The company said that the inter-ministerial committee for the analysis of strategic minerals projects will be responsible for supporting the projects. It comprises the Brazilian Mines and Energy Ministry, the Science, Technology and Innovation Ministry, the Institutional Security Office of the Presidency, the PPI and the Special Secretariat of Strategic Affairs of the Presidency.
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President and CEO Peter Tagliamonte commented, “We are pleased that our Volta Grande gold project was selected by this important new initiative of the Brazilian Government. It confirms the importance of sustainable, environmentally responsible and socially responsible projects and the importance these projects have to all stakeholders, including the local communities, municipalities, state and federal governments. We look forward to cooperating and working with all stakeholders as we advance the Volta Grande gold project forward.”
The company noted that the initiative was created in 2021 to select projects considered highly important for Brazil's development and coordinate government agencies to implement and expand production of strategic minerals on an environmentally sustainable basis.
Belo Sun is a Canadian-based mining company with a portfolio of gold-focused properties in Brazil. The company is currently focused on the development of the Volta Grande gold project.