Permitting Milestone at Monte Alto Project
Sydney, Dec 12, 2024 AEST (ABN Newswire) - Brazilian Rare Earths Limited (
ASX:BRE) (BRELY:OTCMKTS) (BRETF:OTCMKTS) is pleased to announce a significant permitting milestone for the Monte Alto Project. Brazil's National Mining Agency, the Agencia Nacional de Mineracao (ANM), has approved the Final Exploration Report for the Monte Alto exploration licence.
This approval marks the commencement of the formal process to secure a Mining Permit for Monte Alto.
Brazilian Rare Earths will now prepare and submit an Economic Development Plan (EDP), 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 ANM approvals for the Final Exploration Reports on 20 exploration licences across the Rocha da Rocha Province, covering an area of 324km2 . Combined with Monte Alto, these approvals encompass 348km2 of tenements.
The approvals include the southern extension of the Velhinhas trend, where the highest-grade outcrop sample recorded at 40.5% TREO was recorded. The central block of the ANM approvals, spanning 128 km2, covers a chain of intense geophysical anomalies over Pele Targets 2, 3, 4, and 5.
Brazilian Rare Earths' CEO and Managing Director, Bernardo da Veiga, commented:
"We appreciate 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."
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About Brazilian Rare Earths Limited
Brazilian Rare Earths Limited (ASX:BRE) is an Australian company, rapidly advancing its Tier 1 rare earth project in Northeast Brazil.
Company exploration to date has discovered and delineated a globally significant, district-scale mineral province containing large volumes of both heavy and light rare earths critical to advanced industries and applications that will deliver a green energy transition.
The Company is led by a team of experienced mining executives and geologists with hundreds of years of cumulative experience in finding, developing, and operating mineral assets to generate value across a wide variety of jurisdictions, and commodities throughout the globe.
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