Brazil: Canadian gold mine loses license | World War 4 Report

2.7.14

Brazil: Canadian gold mine loses license | World War 4 Report: A Belo Sun news release
said the decision only means that the company needs to complete a
five-month impact study; it has already commissioned the study, which
will start as soon as researchers have permission to access indigenous
lands, according to the news release. The mine was expected to open in
2016 and to produce 313,100 ounces of gold each year over a 10-year
lifetime; if built, it will be the largest gold mine in Brazil. Belo
Sun's shares were down nearly 10% on the Toronto Stock Exchange by noon
on June 26. (Ministério Público Federal no Pará press release, June 25; Reuters, June 26; Mining.com,
June 26). This is the latest in a series of reversals for gold mining
projects in Latin America, most notably Barrick Gold's mammoth Pascua Lama mine on the Argentine-Chilean border in the Andes.