Cascavel gets govt backing - Orinoco
PERTH (miningweekly.com) – The state government of Goias, in Brazil, has labelled the Cascavel project one of importance, owner Orinoco Gold said on Wednesday, announcing that it had signed a memorandum of understanding (MoU) with the state to facilitate the development of the project.
Under the MoU, Orinoco committed to build the Cascavel project, and in return, the state government would provide its full support and assistance for the provision of government services, including items such as licensing, tax concession considerations, power, roads, water and telecommunications.
Orinoco MD Mark Papendieck said on Wednesday that the signing of the MoU was a welcome milestone for the project, and reinforced the company’s positive relationship with the state government.
“The Cascavel project is a high-grade gold project that will bring a range of important benefits to the state of Goias, including employment, training opportunities and royalties.”
In April this year, the Orinoco board gave approval for the development of the $6.6-million Cascavel underground mine, which was initially expected to produce 40 000 t/y of ore, using a gravity circuit capable of achieving gold recoveries of between 80% and 90%. Mining would initially focus on a small portion of the Cascavel and Mestre areas, using Orinoco’s existing underground extraction permits.
Construction of the project was expected to start in May this year, with the construction of the main incline shaft.
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