Australian miner launches $35M copper-gold investment in Brazil

Photo: OZ Minerals

Australia’s OZ Minerals has announced it is launching the construction of the Pedra Branca copper-gold mine in Brazil under a project worth some $35 million in the pre-production capital investment phase.


This “announcement advances the previously announced Carajás Hub strategy where a potential series of mid-scale mines supply ore to central processing facilities,” said Carlos Gonzalez, the chief exec-utive of OZ Minerals Brazil, as quoted in a statement.


The Australian miner said that the underground mine is to have a production of about 1 million tonnes per annum, and “first develop-ment ore is targeted for mid-2020,” according to the statement.


OZ Minerals is listed on the Australian Securities Exchange (ASX100). The miner says it is focused on copper. The company's operations are located in Australia, Brazil, Peru, Mexico, and Swe-den, according to data from OZ Minerals.