Consultoria

Mining and production of copper concentrate through the comminution / flotation process, located in the state of Pará. Investment of US$ 420 million. Our participation began in 1999 with a Pre-Feasibility Study, and services provided included economic feasibility analysis, value management, tax planning and advice on tax management until the start of the operation in March 2004.

Mining and production of copper concentrate using the comminution / flotation process, located in the state of Pará. We participated in the feasibility study undertaken in 1997, reviewed the same study in 2002, and implemented the Final Feasibility Study in 2004, which was revised in 2006. We performed economic feasibility analysis and tax planning considering several alternative cases, until final approval of the investment project.

Pilot plant project located in Pará, which purpose was to test a hydrometallurgical process for the production of copper cathodes. We worked to develop a tax planning for the project based on legislation that supported the application of tax incentives for projects with technological innovations.

Exploitation of nickel laterite reserves and processing of the same using HPAL technology, with an average annual production of 46,000 tpa of nickel cathode, and investments around US$2 billion. The involvement of L&M began in 2004 with economic feasibility analysis and tax planning for the Feasibility Study carried out in Perth, Australia. The feasibility phase was complete in July 2005.

Located in the state of Pará, the aim of this project was the exploitation of oxide ore for the production of copper cathodes through a SxEw process. L&M’s participation started in 2002 with the Feasibility Study conducted in Santiago, Chile, having continued until October 2007, with the drafting of alternative scenarios and analysis of synergies with other copper projects that were being developed by the company in that neighborhood.

The aim of the São João do Piauí Nickel Project is the mining and processing of nickel laterite ore for the production of MHP. Our participation took place in 2004 and consisted of advising the board of VALE in their dealings with the state government, for the identification and analysis of financial and tax incentives granted by the state of Piauí and the federal government.

Construction of the eighth pelletizing plant in the Complexo de Tubarão in the state of Espirito Santo, with a production capacity of 7 Mtpa. The capital investment was estimated in U$600 million. L&M provided assistance to allow the basic tax incidence to be determined and cost reduction opportunities based on tax incentives to be identified.

Mining and production of copper concentrate through a comminution/ flotation process, located in the state of Pará. L&M performed the economic feasibility analysis which included operating costs and tax planning for the Pre-Feasibility Study of the project, developed during the second half of 2005. In 2012 the basic tax incidence and the potential tax benefits on the initial investment were reviewed.

Iron-nickel processing plant, located in the municipality of Barro Alto, in the state of Goiás. The study was developed in 2006, and L&M provided technical advice and a review of tax incidences on purchases of equipment and services. In 2008, during implementation, we provided support to procurement activities through a dedicated field team.

Extraction and processing of iron-nickel, located in the municipality of Ourilândia, state of Pará. We provided economic feasibility analysis (including operating costs) and tax planning for the Feasibility Study of the project in 2006. From this date until February 2010 we provided advice on managing the economic value of the project, as a result of engineering revisions and relevant strategic and tax planning changes.

Nickel laterite exploitation and processing project. Located in the municipality of Itagibá, in the state of Bahia, and owned by the Australian mining company Mirabela Nick Ltd. The project began in August 2006 and involved the identification of opportunities to increase the economic value of the business through tax planning, the negotiation of a package of tax incentives with the state government, and the application for tax benefits at federal level. We provided additional consultancy services relating to the management of the legal process of the installation of a 230kV transmission line and field assistance in recruitment and selection. The investment was R$1.3 billion and the project became operational in November 2009.

Mining and processing of oxide ore for production of gold bullion for refining. Located in the municipality of Amapari, in the state of Amapa, the project was owned by Mineração Pedra Branca do Amapari, at that time a wholly owned subsidiary of the American company Newgold, before being sold to the Australian company Beadell. Our work began in the second half of 2006, and involved the economic analysis of alternative processing routes for the oxide ore, and also the economic feasibility of the mining and processing of sulphide ores. The works continued until April 2008.

Located in the region of Piura, Peru, the project involves the exploitation of a deposit of phosphate for the production of concentrate. The project was developed in 2007 in Santiago, Chile, and L&M participated in the tax advisory and economic feasibility analysis of the project.

Construction of an iron ore processing plant in Serra Pelada, in the municipality of Curionópolis. L&M provided technical support and definition of the basic tax incidence on services and supply items of materials and equipment, as well as identified opportunities to reduce the tax cost on investment items.

This project was about the expansion of the Carajas iron ore processing plant in Parauapebas. The study was conducted in March 2007 and L&M, similarly to Project Serra Leste, provided technical support and definition of the basic tax incidence on services and supply items of material and equipment, as well as identified opportunities for reducing the tax cost on investment items.

Located on the hills at the south side of Carajás, State of Pará, this project were planned to have the capacity to produce 90 million metric tons, with investment in mining, processing plant, railroad network and a port. The study began in July 2007 and the work performed by L&M is similar to those developed for the projects Serra Leste and +30.

Nickel laterite exploitation and processing project for the production of concentrate. Located in the municipality of Xinguara, in the state of Pará, the project was owned at the time by the Swiss mining company Xstrata Nickel Ltd. The work was conducted between April and August of 2008 and involved the adaptation of the economic modeling of AMEC Engineering to the Brazilian context, as well as the identification of opportunities for adding economic value to the business through tax planning.

Located in the municipality of Anchieta, State of Espírito Santo, the project was a joint venture between Vale and Baosteel to build an integrated steel mill to produce steel plates, at an initial capacity of 5 Mtpa.. Investments were estimated at US$6 billion. L&M assisted in the preparation of the economic modeling of the project between April and December 2008.

Originally owned by Rio Tinto, this project was acquired by Vale in January of 2009, and aimed to increase the capacity of the mining and the iron ore processing plant capatity to 11.0 Mtpa. The study was conducted in May 2008, and L&M provided technical consulting support and the definition of the tax incidence on services and supply items of materials and equipment included in the CAPEX.

Located in Saudi Arabia, is the project was a joint venture between London Mining PLC from the UK and NMC from Saudi Arabia. It involved the exploitation of an iron ore deposit, including the construction of processing and pelletizing plants, for aproduction capacity of 5 Mtpa of pellets. L&M was responsible for the economic feasibility analysis of the Engineering Study carried forward between October 2008 and January 2009.

This was the new name of the group of the Maquiné and Baú deposits and included the construction of an iron ore processing plant. L&M provided tax assistance on definition of basic tax incidence on services and supply items of materials and equipment, between February and July 2009.

The Vargem Grande mine is located within the Southern System, which consists of six mining complexes: Itabira, Mariana, Minas Central; Paraopeba, Vargem Grande and Itabiritos, all located in the Iron Quadrangle in the State of Minas Gerais. The project consisted of the construction of a mining complex with a production capacity of 10 Mtpa of iron concentrate. L&M provided technical advisory support as well as the definition of tax incidence on services and supply items of materials and equipment. The work was carried out in April 2009.

Located in Itabira, MG, the Itabiritos-Conceição project consisted of the construction of a 12 Mtpa iron ore processing plant. The operation was expected to start in the second half of 2012. L&M provided technical advisory support and definition of tax incidence on services and supply items of materials and equipment. The work was carried out in August of 2009.

This copper ore, iron and gold mining and processing plant project is owned by Green Valley Mining, a subsidiary of the Canadian company Aura Minerals Inc. It is located in the municipality of Craíbas at approximately 20 km from Arapiraca, in the State of Alagoas, where there is a deposit estimated in 150 million tons of ore. L&M provided advice on tax planning and economic modeling between May and August 2009.

The objective of this project, located in Greenland, was the exploitation of an iron ore deposit, including processing plants, with the aim of exporting 10 Mtpa of pellet feed. L&M was responsible for examining the economic feasibility of a Scoping Study carried out between June and September 2009 and for two Pre-feasibility studies, one conducted between May and July 2010 and the other in January 2011.

Steel plant in Marabá, in the State of Pará, which aimed to produce 2.5 Mtpa of steel products. The work of L&M involved the development of a PFS economic model from March to August 2010.

A joint venture between Vale and Aços Ceará, the project involved the construction and operation of a plant to produce hot and cold steel and galvanized laminates, using steel plates provided by ALPA. This plant would be located within ALPA’s area. L&M developed the PFS economic model for the project between August and October 2010.

This property, located in the southeast of Tocantins State, near the municipality of Almas, is 100% owned by Rio Novo Gold, at the time an emerging company focused on the acquisition, exploration and development of gold mineral resource properties in South America. L&M undertook tax planning and complete tax negotiations with the government of Tocantins, in addition to implementing the economic feasibility analysis. The work was completed in June 2011 and revised in March 2012. We continued to provide assistance until the merger with the Canadian company Aura Minerals.

This site is located in Sierra Leone and was acquired by London Mining PLC in 2006. The company developed a Pre-feasibility Study for increased production (brownfield) aiming to reach 16 Mtpa of iron ore concentrate. The PFS extended to July 2011 and was carried out by AUSENCO (Australia) the engineering company responsible for the estimates of capital and operating costs. L&M was hired to perform the economic feasibility analysis for the project.

Located in the state of Rio Grande do Norte, near the municipality of Currais Novos, in northeastern Brazil. The property is 100% owned by Crusader, an emerging company focused on the acquisition, exploration and development of gold mineral resource properties. We were hired to develop the economy and tax modeling for the Bankable Feasibility Study. The work began in December 2011 and was suspended in June 2013, when the project was put on hold for a review of its geological information.

Verde Potash is a company that was created for the development of the Cerrado Verde project, located in the southeast of the state of Minas Gerais, near the municipality of São Gotardo and Matutina. Cerrado Verde has significant reserves of potassium silicate rock, from which the company intends to produce potassium chloride (KCl). We were hired to perform tax planning and to conduct complete tax incentive negotiations with the government of Minas Gerais and the Federal Government. Work began in May 2012 and took around six months.

This project is located in the southeast of Pará, near the municipality of Senador Jose Porfirio, in northern Brazil. The project is 100% owned by Belo Sun, a Canadian company that has a portfolio of mineral exploration projects in Brazil and is a subsidiary of the private merchant bank Forbes Manhattan, which has a global focus on natural resource sectors. L&M completed the economic feasibility analysis for the Pre-Feasibility Study in June 2013. In 2014, we carried forward the same task for the Bankable Feasibility Study (BFS). L&M has also been contracted to perform tax planning and conduct complete tax incentive negotiations with the government of the state of Pará.

This project is located in the municipality of Itabirito in the state of Minas Gerais and was designed to produce 15 million tons of iron ore (pellet feed). It was owned by Ferrous Resources do Brasil, a Brazilian company focused on the extraction and processing of iron ore which has mines in the Iron Quadrangle region of Minas Gerais. We were hired to develop the economic feasibility analysis of the project, based on the economic and financial modeling developed by the client’s own team. Work began in January and ended in June 2013 with the issuance of the final report.

Located in the state of Minas Gerais in the region known as the Vale do Aço. The project area was an old iron ore mine which operated until the 80s. The property is 100% owned by Grupo Bemisa (Brazil Exploração Mineral S.A.) established in 2007 with the purpose of exploring and developing business opportunities in the mining sector. We were hired to provide tax planning and conduct complete tax incentive negotiations with the government of Minas Gerais. The work was carried out between 2013 and 2017.

Located in the northeast of Brazil, this project has over one billion tons of certified magnetite iron ore, and estimated annual production at 15 million tons of pellet feed. The property is 100% owned by Grupo Bemisa (Brasil Exploração Mineral S.A.) established in 2007 with the purpose of exploring and developing business opportunities in the mining sector. We were hired to develop the tax planning and conduct complete tax incentive negotiations with the Piauí state government. The work was carried out in 2013 and 2014.

We were hired to prepare the Risk Analysis of the conceptual model of the stock, supply and pellets distribution yard, planned to serve NAMISA’s pelletizing plants P1 and P2, located in the Casa de Pedra Mine, in the municipality of Congonhas-MG. The work was conducted in 2013.

The Gurupi Project is located in the municipality of Centro Novo, State of Maranhão. The property is 100% owned by Canadian company Jaguar Mining Inc., owner of several assets in Brazil focused on gold exploration and production. We were hired to carry out the economic analysis of the Alternative Process Route Study conducted in 2014 in conjunction with the UK consulting firm Alyssum Ventures Ltd.

Irati is a company focused on the production of fuel oil, from shale rock, with mineral reserves in the southern region of the country, states of Paraná, Santa Catarina and Rio Grande do Sul. L&M’s work consisted of analyzing tax legislation in those states and conducting a tax review of the project’s economic analysis involving the exploration and production of shale oil in the three states. The work was carried out in the last quarter of 2015.

This project is the district of Tapajós, in the state of Pará. The property is 100% owned by Eldorado Gold Ltd., a Canadian company focused on the exploitation and mining of gold with operations in Asia, Europe and South America. We were hired to review the economic modeling and develop tax planning to identify opportunities to improve the results of the project. Work began in May 2013. We participated in subsequent reviews, including the most recent of 2018 and 2019..

This project is located in the municipality of Capitão Gervásio, in the southeast of the state of Piaui. The property is 100% owned by Brazilian Nickel Ltd.., which is a company focused on the extraction and processing of nickel and cobalt ores, with a view to supplying to battery manufacturers for electric vehicles and others.. We were hired to develop the tax planning to apply it in economic modeling, aiming at its adequacy to brazilian tax legislation, including the tax benefits applicable to the project. The work began in May of 2013. In 2018 we concluded negotiations with the state government which resulted in the granting of the appropriate tax benefits for the Project, already transformed into law by the legislative power.

It is located in the municipality of Autazes, near Manaus, the capital of the State of Amazonas. The project is owned by Forbes Manhattan, a Canadian private bank with global operations in resource exploration, agriculture, technology and telecommunications. The project foresees a large-scale production of Potassium Chloride to serve the agricultural market in the Midwest and North region of Brazil. L&M was responsible for analyzing the legislation and reviewing the tax incidences in the economic modeling of the Preliminary Economic Assessment (PEA) which occurred in 2015. In 2016 L&M was responsible for the economic analysis of the Feasibility Study. In the subsequent years of 2017 to 2020 L&M has been advising the Project in the realization of scenario simulation, tax planning and providing support on negotiations with the government of the State of Amazonas.

The Três Estradas project aims to extract and process phosphate, for the fertilizer industry. Owned by the Australian company Aguia Resources, the project is located in the municipality of Lavras do Sul, in the State of Rio Grande do Sul. L&M was responsible for analyzing the tax legislation on the company’s sector and operations in Rio Grande do Sul, as well as reviewing the tax incidences in the economic modeling of the Preliminary Economic Assessment (PEA) that occurred between the second half of 2016 and the first half of 2017. In 2018 L&M was responsible for the development of the economic modeling Feasibility Study conducted by Millcreek Mining Group.

It is located in the municipality of São Luis Craton, southeastern Piauí State. Luna Gold Corp. the project’s owner in 2016, after the merger with JDL became Trek Mining. Subsequently, a new merger of Trek Mining with New Castle Gold and Anfield Gold created Equinox Gold in October 2017, the current owner of the project. In 2016, L&M was responsible for conducting the economic modeling, working with Lycopodium Minerals Canada Ltd, the engineering company in charge of the Pre-Feasibility Study. Between April and August 2017 L&M developed the economic modeling of the Feasibility Study of the project, also conducted by Lycopodium. In 2019, L&M conducted a tax review on the PEA for the underground exploration of reserves as an extension of the project’s life.

The main mineral reserves of the Araguaia Project are located in the municipality of Conceição do Araguaia, State of Pará. The project aims to produce iron-nickel, a fundamental material for stainless steel. In 2017 L&M was hired to develop the analysis of tax legislation on the project, as well as to perform a tax review in the project’s economic model. In 2018 we conducted the tax review in the Feasibility Study developed by AUSENCO. L&M is currently advising HZM in the negotiations of tax benefits with the government of the State of Pará and in the tax review on the Bankable Feasibility Study that has been developed by the engineering company SNC Lavalin.