Crusader receives Posse iron project operating license in Brazil

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Wednesday, December 5, 2012

Australia-based Crusader Resources (ASX: CAS) has received an operating license for the Posse iron ore project in Brazil's Minas Gerais state.

Granted by Minas Gerais state environmental regulator Copam, the license allows for mining operations to begin immediately on a restricted basis. Under the terms, Crusader may begin operations under its existing trial mining license, which allows for a 300,000t/y run-of-mine ore production using dry beneficiation, the firm said in a press release.

With Posse's processing plant already fully constructed and commissioned, Crusader expects to begin iron ore production in early 2013. Concurrently, the firm will continue to pursue a full mining license for the project.

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Last November, Brazil's mineral production department DNPM approved Crusader's Posse economic development plan - a full mining license prerequisite.

Crusader aims to complete the process required for a full mining license in the first half of 2013, the firm said.