The Aussie company Equinox Resources, renowned for its ventures in the mining sector, unveils a new chapter in its journey: the pursuit of rare earths in Bahia. The Campo Grande Project, located in the Jequié region, emerges as a promising discovery in Brazilian lands rich in ionic clay, an ideal site for rare element extraction.
Zac Komur, CEO of EQN, expressed enthusiasm for the Campo Grande Project, highlighting it as a groundbreaking opportunity for the company.
The Campo Grande Project represents a notably transformative and potentially game-changing opportunity for Equinox, situated in the heart of one of the world’s most intriguing emerging districts for rare earth discoveries in clay,” stated Komur.
The distinctive feature of this project lies in the potential for efficient and cost-effective extraction, with deposits close to the surface, at depths of around 10 meters. This enables a streamlined extraction process, with controlled costs, utilizing specific pH levels for the collection of these essential elements.
The magnitude of the project, spanning an area of 1,760 km², mirrors the vastness of the rare earth province in Bahia. The burgeoning region has captured attention and investments, with the imminent listing of Brazilian Rare Earths on the ASX, signaling an IPO of $50 million USD and an initial market value of around $315 million USD.
Campo Grande Project
To make this venture feasible, Equinox is engaged in a strategic fundraising process, aiming to raise $1.6 million USD before expenses. Company directors have shown commitment by contributing $465,000 USD from their own pockets.
The company’s planning encompasses several stages following the project’s concession. This ranges from detailed reviews of Campo Grande’s potential to selecting contractors to commence extensive auger drilling.
We are eager to commence an initial drilling program and plan to initiate an auger drilling program in early 2024, following the expected grant of the applications,” shared Komur.
Equinox’s interest isn’t solely exploratory; the company is also committed to conducting its operations responsibly.
Zac Komur highlighted the importance of seeking more sustainable extraction methods, aligned with ESG (environmental, social, and governance) requirements. “Brazil ticks a lot of boxes for us,” he affirmed, referring to the country’s advantages for the project.
Brazil proves to be a strategic choice for Equinox, offering a conducive setting for the development of this venture. With its rich reserves, favorable infrastructure, and mining-focused legislation, the country stands out as a potential location for sourcing essential resources.
The Campo Grande Project thus emerges as a turning point in Equinox Resources’ trajectory, pointing towards a future where the pursuit of essential resources intertwines with environmental responsibility and notable growth potential for the company.
Note: This article was based on information released by Equinox Resources and interviews conducted with CEO Zac Komur in November 2023.
Source: Brasil Mineral, ShareCafe
Editing: IGNEABR
