Maxtech Fast Tracks Acquisition of Additional Manganese Claims In Brazil
December 5, 2017 (Source) — Maxtech Ventures Inc. (CSE: MVT) (Frankfurt: M1N) (OTC: MTEHF), (“Maxtech” or the “Company”) is pleased to announce that the Company has begun extensive manganese research in Northern Brazil with the intention of establishing a larger assembly of claims similar to the Company’s Juina claims in Mato Grosso which are near 50,000 hectares.
Maxtech is currently deploying its in-country management and exploration partnership teams in Brazil to further develop its immediate plan of acquiring additional Mn mineral claims in the Northern part of Brazil. Initial due diligence in this region is already underway.
Recently, the Brazil National Congress has been attempting to pass changes of mineral resource laws, seen as a key to investor uncertainty. International mining companies have been fearful of intended modifications to the mining code, which may have resulted in hefty taxes, higher research costs and a decreasing interest from foreign investors. However, many of the potentially negative legislations were not passed. The government has now passed a law to create a National Mining Agency for the mining sector, to replace the National Department of Mineral Production, which is expected to increase transparency, reduce bureaucracy and accelerate a historically slow mining license approval process in Brazil.
As a result, gold mining royalties will increase, potassium royalties will be slashed and iron ore royalties increased. However; the new law allows less-profitable iron mines to apply for a rate as low as 2 per cent, a move favouring smaller miners over the likes of Vale SA and BHP Billiton.
Peter Wilson, CEO of Maxtech states: “These new laws make the mining jurisdiction of Brazil super-favourable to a growing exploration company like Maxtech, and helps establish us as the most attractive pure play manganese opportunity in the country. Being a step ahead of the competition is always a good thing,”
About Maxtech Ventures Inc.
Maxtech Ventures Inc. is a Canadian based diversified industries corporation with gold and manganese mineral properties. Its focus is on mining and the products that are derived therefrom.
Further information about the Company is available on www.SEDAR.com under the Company’s profile.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements contained in this release may constitute “forward–looking statements” or “forward-looking information” (collectively “forward-looking information”) as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated”, “anticipates” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. This release contains forward-looking information relating to the business of the Company, the Property, financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether because of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
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