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Belo Sun Mining Corp T.BSX

Alternate Symbol(s):  BSXGF

Belo Sun Mining Corp. is a Canada-based mining company with a portfolio of gold-focused properties in Brazil. The Company is focused on the development of the Volta Grande Gold Project. The Volta Grande Gold Project covers over 2,400 hectares within the 'Tres Palmeiras' greenstone belt. The Volta Grande Gold Project is located in Para State, Brazil, approximately 60 km south-east of the city of Altamira. Altamira is a major regional center with a population of approximately 150,000 and is serviced by a local airport and the Trans-Amazonian Highway. The mineral resources on the Volta Grande Gold Project are subdivided in two areas: North Block and South Block. The North Block includes four zones; Ouro Verde, Junction, Grota Seca and Greia; the South Block is located approximately 10 km south.


TSX:BSX - Post by User

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Post by wwadehammeron Nov 28, 2015 1:42pm
93 Views
Post# 24334848

$5.2 billion versus $287 million

$5.2 billion versus $287 million

Brazil to sue Samarco mining firm for $5.2bn over dam burst

School destroyed in Bento Rodrigues, 10 November 2015

The Brazilian government says it will sue mining company Samarco $5.2bn (£3.4bn) for the environmental damage caused after a waste water dam at an iron-ore mine collapsed.

At least 13 people died when the dam burst earlier this month in the south-eastern state of Minas Gerais

A village was destroyed and drinking water polluted over a wide area.

Environment Minister Izabella Teixeira said money was needed for environmental recovery and to compensate victims.

"There was a huge impact from an environmental point of view," she told reporters in the capital Brasilia.

"It is not a natural disaster, it is a disaster prompted by economic activity, but of a magnitude equivalent to those disasters created by forces of nature."

She said about 500km (310 miles) of the Rio Doce - one of Brazil's most important rivers - would have to be dredged in parts, vegetation replanted and fresh water springs cleared.

Samarco is owned by mining giants Vale, from Brazil, and Anglo-Australian company BHP Billiton.

On Thursday the UN said the dam burst had unleashed a flood of "toxic mud".

However, mining giant BHP said in a statement that the water in the dam - a by-product of iron ore extraction - did not pose any threat to humans.


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