The rationale behind these protests according to local sources, related to allegedly unrecognised property rights to local sites. Segments of the railway between the Mineirinho and Auzilândia in the northern state of Maranhão, were seized making the transportation of passengers, and Iron Ore from the Carajas mine temporarily impossible.
Vale's official statement said that incidents of social unrest are always regrettable as they put lives of employees and the public at risk. The statement further inferred the company's desire to co-exist harmoniously within the local community, along with other local miners.
C2C Exploration C.E.O. Mr Chris Jarvis commented on the protests saying “This is exactly the kind of incident that necessitates for us, the implementation of fair and mutually beneficial local community policies. At C2C Exploration we aim to give as much back to the local community as possible, via education funding, recruiting from within the local area, and offering medical services to the family of employees. We believe that in this way we can avoid such incidents.”
Since 2008, when the global equity markets began to suffer the detrimental effect of the economic crisis, the market price of gold has more doubled from under $800 to over $1700 per ounce, thus the South American mining industry has thrived. This vast expansion however has led for some miners, to an increase in the prevalence of clashes between protesters and local security forces.
C2C Exploration however, has never directly been targeted by protesters, and on this occasion, has seen production almost totally unimpaired by these protests in the region.
About C2C Exploration
C2C Exploration, is a São Paulo based mineral exploration and extraction company with an aggressive growth strategy. The company places great importance on exploration, acquisition and development of assets to maximize growth and shareholder value.
The company's current portfolio of assets comprises three exploration projects with epithermal gold, and reserves of other minerals in the area around São Paulo, Brazil.
C2C Exploration is committed to building and maintaining shareholder value, and has a strategy focused on constructing a diverse portfolio through exploration and acquisition of early stage projects with high potential. The current portfolio includes several projects with proven reserves, and early stage projects involved in the exploration for gold, copper, iron, and nickel.
The company's Santo Amaro project is its prime asset and is located in northern Brazil, and is wholly owned by C2C exploration. Production began on the Santa Amaro project in 2008.
