Brazil based minerals mining company C2C Exploration has today begun the exportation of ore sourced from its Bahia operations in North Eastern Brazil.
Mar. 26, 2013 - Mr Chris Jarvis, Chief Executive Officer at C2C Exploration made a statement early this morning on-site at the C2C mine in Bahia, informing staff and press attendees that ore exports have already begun following greater than expected demand.
The site known as the Ibirapuera Mineracao which hosts a closed underground copper and gold producing mine, has been the focus of much media attention over the past 12 months due to C2C Exploration seeking US$300 million in investor capital to finance exploration drilling on the site.
According to Chief Executive Officer at C2C Exploration Mr Chris Jarvis, the mine has now begun to produce at a rate sufficient to commence production and exportation to fill orders. Mr Jarvis commented on the announcement privately stating “What this means is that we have begun to realise our ultimate goal. The work we have all put in up until this point has been leading to this, so everyone here was unsurprisingly pleased by today’s announcement” .
While C2C Exploration is already generating profits from its capital invested at the Bahia site, it will be some time before those returns allow C2C Exploration to break even, however Chief Executive Officer Mr Chris Jarvis remains entirely confident that the Ibirapuera mine will in time become the prime asset of C2C Exploration, and further suggests that export levels will drastically increase over the coming twelve months as exploration continues on the site.
Aside from currently estimated reserves of over 4.2 million ounces of mineral gold, the mine itself has been shown to contain large iron and copper mineralisation also, which C2C will process.