The Agência Nacional de Mineração has approved the final exploration report for Brazilian Rare Earths’ (ASX:BRE) Monte Alto Project exploration licence.
Approval by Brazil’s National Mining Agency marks the start of the formal process to secure a mining permit for Monte Alto.
Brazilian Rare Earths will now prepare and submit an economic development plan that will be underpinned by the Monte Alto Scoping Study, which is targeted for completion in Q2 2025.
In addition to Monte Alto, Brazilian Rare Earths has also received approvals for the final exploration reports on 20 exploration licences across the Rocha da Rocha province.
Combined with Monte Alto, these approvals encompass 348km2 of tenements. The approvals include the southern extension of the Velhinhas trend.
Brazilian Rare Earths’ CEO Bernardo da Veiga says the company appreciates the strong and proactive support of the Brazilian government in advancing permitting at Monte Alto.
“The swift approvals underscore the high quality of our exploration work, our strong engagement with our stakeholders, and the Brazilian government’s strong support for leading critical minerals projects,” da Veiga says.
Write to Adam Orlando at Mining.com.au
Images: Brazilian Rare Earths
