Havana, Apr 25 (Prensa Latina) The Cuban company GeoMinera S.A. and the Canadian firm Millbrook Minerals Inc. signed an agreement to carry out joint reconnaissance and research projects, local media reported today.
The newspaper Granma noted that the two firms will carry out geological reconnaissance and research projects by stages in an area of 318 square kilometers in the provinces of Cienfuegos, Villa Clara and Ciego de Avila.
The corporation made up of GeoMinera and Millbrook Minerals will develop the prospecting project Los Pasos, in which both companies will do reconnaissance works by stages in the aforementioned area. The study aims to determine possible fields that will allow setting up joint ventures to exploit and commercialize solid minerals.
The plan is to exploit new fields of copper, zinc, precious metals and other minerals in a five-year period if feasible.
GeoMinera S.A. General Director Gustavo Puentes explained that this agreement is a landmark in relations between the two companies, because such the Cuban group had not reached such a major deal over the past 20 years.
This week, Cuban authorities informed that nickel and cobalt production is expected to increase to more than 50,000 tons this year.