Brazil Minerals, Inc. (OTC: BMIX) (the “Company” or “Brazil Minerals”) announced today that it has entered into a joint venture with respect to primary diamond sources in Brazil, to be developed by Artemis Diamond Corporation (“Artemis”), a diamond-focused company. Artemis will become one of the Brazil Minerals portfolio companies.
The areas announced here contain 92,961 acres and thirteen known kimberlites and the project is in late stage of permitting with the Brazilian national mining department after diamonds were confirmed.
Marc Fogassa, the CEO of Brazil Minerals commented, “This is a highly exciting development. Primary diamond areas are incredibly rare in size with such large number of active kimberlites. Our technical team with three renowned geologists with over one hundred years of collective expertise on diamonds is advancing this project well.”
Brazil Minerals has assembled a robust team of geologists, mining engineers and other local experts with trained eyes for seeking out opportunities and filtering projects.
The Company has been bulking up on its mineral bank of high quality properties – currently encompassing mineral rights for diamond, gold, manganese, industrial sand – because of what it sees as a near inexhaustible demand for quality gems, precious metals and commodity mineral supplies on a global basis.
Note: The source does not indicate the geographical location of the holding
*Kimberlites are small carrot-shaped diatreme which occur mainly in stable tectonic settings