Serra Pelada Restarting Platinum Production in 2013

Kitco reported Serra Pelada will begin gold, palladium and platinum production again in 2013.

As quoted in the market news:

Serra Pelada, at its peak in the 1980s, saw as many as 80,000 artisanal miners (called garimpeiros) mine roughly 2 million ounces of gold as well as platinum and palladium from a hand-dug open pit. Flooding and a pit wall collapse put an end to mining in the mid-1980s.

After remaining largely untouched for the last 20 years, COOMIGASP, a registered Brazilian cooperative company made up of some artisanal miners from the original Serra Pelada rush, was granted an exploration license for the property. Colossus and COOMIGASP formed a joint venture to develop Serra Pelada.

Click here to read the full Kitco report.