The company's Volta Grande project is posed to become the country's largest gold mine.
Belo Sun Mining News
Belo Sun Mining Corp. has awarded FLSmidth the first phase of an EPC contract for the Volta Grande gold mine processing plant in Brazil’s Amazon region.
Opponents claim the miner intends to use cyanide, depositing toxic waste in a dam located just 1.5 km from the Xingu River, a tributary of the Amazon.
The recently completed feasibility study should whet investors appetite, say analysts.
Ruling says the miner failed to assess the impact on local indigenous communities.
Belo Sun Mining says it will appeal the decision.
Defying a very weak gold sector, Belo Sun Mining soared 14% in heavy volume as investors take big bets the Toronto firm's Amazon gold project is a go.
Brazil's largest gold project under development in the Amazon gets a green light from the markets.