Can you provide an update on the main milestones for SRK Brazil over the past year?

Last year, our strategy was impacted by uncertainty surrounding the New Mining Code and exploration permit holds by DNPM. This led to postponements of important contracts. However, as these issues are resolving, we are gearing up to meet our clients’ needs again.

What are the main services that SRK provides to the Brazilian market?

SRK Brazil’s strong suit is exploration and mining services, with a secondary focus on environmental work. We are a part of a global company with over 1,500 personnel and can draw on their expertise as needed. We are considering expanding into other services, such as high level geotechnical consulting and due diligence on acquisitions for banks and foreign investors.

Can you give us an idea of some of your main clients and projects in Brazil?

Internationally, we collaborate with international mining giants on various projects across countries. In Brazil, we work with both major and junior companies such as Usiminas and CSN. We are currently doing exploration due diligence for several Asian investors looking to acquire projects in Brazil. Canadian exploration companies are particularly interested in precious metals exploration projects.

What is your view on the trend towards more underground mining in Brazil?

Commodity price increases in the last decade have led to a shift towards more underground projects. Some companies are considering this option, but it is unclear if there will be a substantial movement or if they are merely evaluating potential. Brazil will likely continue to concentrate on open-pit extraction in the medium term, but many open-pit mines have not yet utilized the most cutting edge exploration and operational techniques, which could improve efficiencies and extend the mine life before going underground.