Newlox Gold Ventures (CSE: LUX) is growing beyond the borders of Costa Rica. The company this morning announced a foray into the Brazilian market, where it has entered into a partnership with NAP.Mineração/USP as it continues to focus on supporting local artisanal miners.
NAP.Mineração/USP is the centre for small-scale responsible mining, based at the University of Sao Paulo, Brazil. The arrangement will see the two firms work in partnership to support sustainable development within the Brazilian mining sector, encouraging responsible management of mine development and governance while also supporting research, training, and education.
In connection with the partnership, Newlox has identified that two highly prospective areas that are suitable for the deployment of precious metals processing plants. Both projects remain in the due diligence stage, with the facilities focused on supporting artisanal miners, much like its current Costa Rican operations.
“Through our relationship with Dr. Veiga, the Company has assembled a team focused on identifying and assessing expansion opportunities in Latin America, with Brazil at the heart of this endeavour. Newlox Gold has established a beachhead in Brazil through its partnership with NAP.Mineração/USP. We are excited to initiate the Company’s expansion program beyond Costa Rica and look forward to updating shareholders as we continue assessing the multiple opportunities available to the Company.”Ryan Jackson, CEO of Newlox Gold
The company this morning also provided a brief update on its Costa Rican operations this morning. The development of Plant Two, known as the Boston Project, is proceeding according to plan. Plant One meanwhile is undergoing modifications that are expected to increase throughput “substantially”.
Newlox Gold last traded at $0.26 on the CSE.
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