Government of Brazil Selects Bravo's Luanga PGM+Au+Ni Project as a Strategic Minerals Project
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VANCOUVER, BC, June 20, 2022 /CNW/ - Bravo Mining Corp. ("Bravo" or the "Company") is pleased to announce that its Luanga platinum group metals (palladium + platinum + rhodium) + gold + nickel (PGM+Au+Ni) project ("Luanga"), located in the Carajás Mineral Province, state of Pará, Brazil, has been selected as a 'Strategic Minerals Project' by the Government of Brazil.
"The selection of Luanga as a 'Strategic Minerals Project' demonstrates the importance of our commodity mix to Brazil," stated Luis Azevedo, Chairman and CEO of Bravo. "We recognize the support of the Government of Brazil in implementing the Strategic Minerals Policy and ensuring that projects of national importance are able to benefit from a prioritized permitting process to the benefit of all stakeholders," he said. "While we remain in the intermediate exploration phase at Luanga with the ongoing Phase 1 25,500m infill, down plunge extension, step out diamond drill program focused on confirming the results of the extensive historic drill program . We are very pleased to have the opportunity to advance Luanga through the permitting pipeline on a priority basis under the Strategic Minerals Policy."
The Brazilian Government instituted the Policy for Supporting the Environmental Licensing of Investment Projects for the Production of Strategic Minerals (the "Strategic Minerals Policy") through Decree No. 10,657, effective March 24, 2021. The Strategic Minerals Policy is aimed at prioritizing development of mineral projects that are strategic for Brazil's growth. The Strategic Minerals Policy has been qualified under Programa de Parcerias de Investimento (Investment Partnerships Program) (the "PPI"), a government body dedicated to expanding and accelerating the implementation of projects with the participation of the private sector in Brazil.
The Inter-ministerial Committee for the Analysis of Strategic Mineral Projects ("CTAPME") was formed to select projects deemed to have strategic importance to Brazil and manage the implementation of the Strategic Minerals Policy. CTAPME includes representatives from the PPI; Ministry of Mines and Energy; Ministry of Science, Technology and Innovations; Special Secretariat of the Investment Partnership Program of the Ministry of the Economy and the Institutional Security Office and Special Secretariat for Strategic Affairs of the Presidency of the Republic.
The Strategic Minerals Policy ensures that the usual environmental agencies remain fully responsible for conducting the licensing processes according to the applicable legislation. The PPI's role is to facilitate regulatory body interaction to better coordinate the environmental permitting process and prioritize strategic projects to the benefit of all stakeholders.
Bravo is a Canada and Brazil-based mineral exploration and development company focused on advancing its Luanga PGM+Au+Ni Project in the world-class Carajás Mineral Province of Brazil.
The Luanga Project benefits from being in a location close to operating mines, with excellent access and proximity to existing infrastructure, including road, rail and clean and renewable hydro grid power. The project area was previously de-forested for agricultural grazing land. Bravo's current Environmental, Social and Governance activities includes replanting trees in the project area, hiring and contracting locally, and ensuring protection of the environment during its exploration activities
Bravo was founded by a management team and board with extensive Brazilian and PGM exploration, permitting, project financing, construction and operating experience. This includes Luis Azevedo, Executive Chairman & CEO; Simon Mottram, President; Alex Penha, EVP Corporate Development; and Independent Directors, Dr. Nicole Adshead-Bell (Lead Director), Stuart Comline, Tony Polglase and Stephen Quin.
This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "believe", "opportunity", "advance" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, this news release contains forward-looking information pertaining to the Company's ongoing Phase 1 drill program and the opportunity to advance the Luanga Project on a priority basis under the Strategic Minerals Policy. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage and other risks and uncertainties involved in the mineral exploration and development industry. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including, but not limited to, the assumption that final drill and assay results will be in line with management's expectations; that activities will not be adversely disrupted or impeded by regulatory, political, community, economic, environmental and/or healthy and safety risks; that the Luanga Project will not be materially affected by potential supply chain disruptions; and general business and economic conditions will not change in a materially adverse manner. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.
SOURCE Bravo Mining Corp.
For further information about Bravo, please contact: Alex Penha, EVP Corporate Development, [email protected]
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