Moves Towards Definitive Agreement in Brazil Vancouver, BC - TheNewswire - 8 December 2021 - Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CNSX:LUX.CN) (Frankfurt/Stuttgart:NGO) (OTC:NWLXF) is pleased to announce that its planned expansion into gold recovery in Brazil, comparable to its established operations in Costa Rica, has advanced through initial due diligence and underlying legal organization.
The initiative has also been greatly enhanced by the news that the Research Center for Responsible Mining of the Polytechnic School of the University of So Paulo (NAP.Minerao/USP) has received expanded World Bank funding for its ASGM - Coexistence in Brazil Project being undertaken in partnership with the Brazilian Cooperative Organization, various artisanal mining cooperatives, the University of British Columbia, and Newlox Gold (Portuguese news release here).
Newlox Gold, as announced on June 16, 2021, has been working in partnership with NAP.Minerao/USP, the centre for small-scale responsible mining at the University of So Paulo, Brazil. This centre supports dissemination of responsible mining practices to artisanal and small-scale mining operations through applied research, training and education. The actions of NAP.Mineracao/USP foster responsible and integrated management of mineral exploration, mine development, mining, rehabilitation, governance, and sustainable development within the artisanal mining sector.
The objective is to “prepare miners for the long term by establishing safer and more efficient mining models and disseminating mercury-free gold recovery techniques, practices and principles of health and safety, ESG, economic management and gender equality”, commented Professor Giorgio De Tomi, the director of NAP.Minerao/USP and Newlox Gold’s head of Brazilian Operations.
The fostering of partnerships between artisanal miners and private companies is a vital part of SGM-Coexistence in Brazil initiative. Newlox Gold has been presented to the Brazilian artisanal sector as an example of a company implementing mutually beneficial business models for improving the economic, social, and environmental impacts of artisanal mining for all stakeholders. This is illustrated by Newlox having developed successful partnerships with local miners in Costa Rica.
Two attractive artisanal mining projects in Brazil have emerged from the Company’s due-diligence work over the fall. One of these provides a natural beachhead for Newlox Goldto expand into this vast and exciting market. The Company is working with its local partners with whom it has established close relationships. Newlox Gold looks forward to starting construction on its third project, and first in Brazil, next year.
“Over the fall, we completed our initial due diligence work and identified a project in Brazil as an obvious starting point in the country. Recently, several legal and regulatory prerequisites have been successfully completed, allowing the Company to move into the final stages toward signing a definitive agreement.”
“The Brazilian mining industry is several orders of magnitude larger than our operations in Costa Rica, representing a massive opportunity for the growth of Newlox Gold,” commented CEO Ryan Jackson.
https://www.thenewswire.com/press-releases/1k3wF7gRl-newlox-gold-moves-towards-definitive-agreement-in-brazil.html