Verde Potash (TSX:NPK) announced that they have received approval from Brazil’s National Department of Mineral Production for the Cerrado Verde Mineral Tenements.
As quoted in the press release:
This approval represents a notable milestone as the project advances through the Brazilian permitting process, as thus summarized. Initially, exploration licenses are granted by the DNPM for a period of one to three years (renewable for up to an additional three years, at the discretion of the DNPM). Prior to the expiry of the exploration license, the holder must prepare and submit a final exploration report to the DNPM. The Company is pleased to report that the DNPM has approved the technical report for mineral tenements which include the entirety of the Cerrado Verde mine pit.
Verde`s President and CEO, Cristiano Veloso, said:
We are pleased that the DNPM has approved the final exploration reports for these mineral tenements. This is an important permitting milestone that advances us towards receipt of a mining concession (Portaria de Lavra) and thus further de-risks the mining side of the project.