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Brazil Minerals (OTCQB:BMIX) announced that its subsidiary Mineracao Duas Barras had obtained an environmental permit to remove and commercialize sand at its project in Latin America. Sand is a normal operational byproduct of the processing of alluvial gravel for diamonds and gold at the MDB plant
According to the press release:
The Company has received formal permission from SUPRAM (Superintendênc
ia Regional de Regularização Ambiental, the local environmental regulator) allowing the removal and commercializati on of sand from the mining concession at MDB. Sand is a normal operational byproduct of the processing of alluvial gravel for diamonds and gold at the MDB plant, and therefore there is no direct cost to MDB in obtaining sand in large quantities.
Marc Fogassa, chairman and CEO of BMIX, said:
Our sand will be able to generate cash flows or be used as a means of payment. For instance, we needed an extra truck to work in our excavation front for diamonds and gold. The cost of renting a large truck is approximately $8,000 per month. Instead of paying entirely with cash, the owner of the truck has agreed to 75% payment in sand on a monthly basis. We intend to study opportunities to exploit our abundant sand in other ways given its strong local demand.
Click here to read the Brazil Minerals Inc (OTCQB:BMIX) press release
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