23
Nov/16

EDM Guarantees Rosário Area

News
| 23 November 2016

On 23 October, EDM signed a prospection and research agreement with the Portuguese State for the area known as “Rosário”, falling under the municipalities of Castro Verde, Aljustrel, Almodôvar and Ourique, where an initial investment half a million euros is anticipated.

At the same time, two contracts for areas known as “Alcácer” and “São Pedro das Cabeças” were signed between the State and the company ESAN, located in the municipalities of Alcácer do Sal, Grândola, Castro Verde and Aljustrel, a reflection of the consortium created with EDM, last February, for the Iberian Pyrite Belt. As well as the above-mentioned areas, the partnership, 85% controlled by ESAN and 15% by EDM, includes a prospection project called by “Monte das Mesas”, located in the municipality of Aljustrel. The budget for the work plan and investments associated with these projects is estimated at 7.6 million euros over the next five years.

The Iberian Pyrite Belt, which stretches to Andalusia, is the area with the largest domestic mining potential, and is where the Aljustrel and Neves Corvo mines are located, which are operated under concession by Almina and Somincor, respectively. Investment in this national asset, the Iberian Pyrite Belt, having strong potential for copper and zinc, is essential and will enable the discovery of new mineral deposits in the Alentejo subsoil.

EDM is a publicly owned company that operates as a leading sector operator, assuming, as concessionaire on an exclusive basis, an important role in the preparation and prosecution of environmental restoration projects in areas degraded by abandoned former mines. It also pursues, on its own initiative or in a partnership, activities for the prospection, research and exploitation of mineral resources and provides specialized services in the fields of georesources and the environment.

ESAN is a member of the Eczacibasiesan group, a conglomerate based in Istanbul, with diverse interests, but with a particular focus on mining activities and the processing of industrial minerals for the ceramic industry. In 2009 it acquired a mining unit where zinc concentrate and lead are produced (Balya Mine in Turkey), which is operated by ESAN.