After the discovery of emeralds in the Fazenda
Bonfim region, Mineração Vale Verde Ltd. (registered
in June 2006) acquired the mining rights from Emprogeo
Ltd. Exploration of the area, which comprises nearly
656 hectares, started in August 2006. Mineração e
Comércio Itaobi Ltda. also owns several licenses close
to this area, and Mineração Santo Expedito Ltda. is the
holder of a nearby gold, tungsten, and bismuth mining
concession. All have invested heavily in mineral exploration
(sampling, drilling, mapping, and geochemical
surveys). Despite these efforts and promising early
results, the emerald mine has not yet begun production.