Brazil Minerals (BMIX) reported Wednesday that its subsidiary, Mineração Duas Barras (MDB), obtained a four-year renewal of its environmental license of operations.
MDB's application was voted favorably by the COPAM committee, which includes representatives from multiple segments of the local community. The public vote was held on Tuesday.
"I enjoyed educating the committee on how carefully we have followed the many environmental rules and guidelines", BMIX Chief Eexecutive Officer Marc Fogassa said. "Given the quality of our work, our renewal was approved with overwhelming support: 10 councilors voted in favor, one abstained and none voted against. Obtaining an environmental license for any mining company in Brazil is a huge deal. The process is long and many studies are required. This four-year renewal of our license of operations is a substantial positive event for the company."
Brazil Minerals is a U.S. holding company with Brazilian mining properties that produce rough diamonds, gold and sand and a business that manufactures and sells mortar.
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