Diamond Mining Rights in Santo Inácio/BA

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The Diamante de Santo Inácio project is located in the center-northwest portion of the state of Bahia, in the district of Santo Inácio, municipality of Gentio do Ouro, 612 km from Salvador. The project corresponds to mining processes nos. 870.387/1984, 870.388/1984, 870.389/1984, 870.390/1984 and 870.808/1991, totaling 1,560 ha. The research program prepared by CPRM, carried out in the period between August 1985 and December 1989, consisted of geological mapping at different scales, topography, geophysical prospecting, execution of 7,899.65 m of drilling, opening of 22 research wells and nine catastrophes, with the removal of 3,078.68 m³ of material, with 279 stones being found, including gems, industrial diamonds and carbonaceous diamonds. From the generation of block models of the three diamond-bearing gravel zones, the resources were parameterized by average grade, gravel zone typology, gravel thickness, total waste rock thickness and waste rock/ore ratio (REM). As a result of the re-evaluation study of the Santo Inácio diamond deposit, the total resources in each of the mining processes were obtained on behalf of CPRM, as well as the estimated average levels of points/m³ of gravel. The sum of all resources totaled 244,368,095 (122,184,048 m³) tons of diamond gravel, with an average content of 1.50 points/m³ or 0.58 cpht, totaling 1.8 million carats. Of this total, approximately 1.6 million carats correspond to the content of gems and industrial diamonds, with the remainder being carbonaceous. The Investment Partnership Program Board recommended the qualification of the Santo Inácio Diamond Project through CPPI Resolution No. 155/2020. On April 15, 2021, Decree 10,675/2021 was published qualifying this project within the scope of the Investment Partnership Program. On 04/07/2022, CPRM published the Consultation and Public Hearing notices for this project in the Official Gazette. The Public Consultation was held between 04/07/2022 and 05/06/2022, and the Public Hearing on 04/27/2022. More information, including the project's data room, is available at http://www.cprm.gov.br/publique/Acesso-a-Informacao/Leiloes-dos-Ativos-Minerarios-do-SGB-6571.html On March 23, 2023, the TCU did not identify any irregularities or improprieties that would discourage the regular continuation of the mining rights assignment process relating to the project, in accordance with Decision No. 525/2023-TCU-Plenary. The CPRM Presidency published Auction Notice No. 003/2023 on September 18, 2023. According to the Postponement Notice published in Section 3 of the Official Federal Gazette of 10/16/2023, the bidding was postponed. The new date for holding the public auction session (10/23/2023, at 10 am) was announced in the Bidding Notice published in Section 3 of the DOU of 10/18/2023. The auction documents are available at the following link: https://www.cprm.gov.br/publique/-7142.html On November 21, 2023, CPRM published the Auction Suspension Notice No. 3/2023 in Section 3 of the DOU.