Mali to get $1.2 billion from miners after talks
Mali’s military leadership has taken a harsh stance against international miners with an extensive overhaul of the sector in recent years.
US miner Brazil Minerals (OTCQB: BMIX) has reported an 84% quarter-over-quarter increase in rough diamond sales from its processing plant in the state of Minas Gerais.
The company’s diamond subsidiary, Mineração Duas Barras, sold 1,662 carats of rough diamonds this past quarter, compared with 902 carats in the preceding reporting period.
“This announced result is excellent, and underscores the quality of our mining concession and processing plant,” Marc Fogassa, CEO of BMIX said in a statement on Tuesday.
Fogassa also noted that over 95% of the company’s diamond production was of “gem quality and destined for jewelry.”
BMIX holds a 55% stake in Duas Barras. The US miner is also developing a vanadium, titanium and iron ore project in Brazil.
