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Mineração Serra Verde announces the appointment of Luciano de Freitas Borges as Chief Executive Officer

Press release


Apr 2016

Goias State, Brazil — [18 April, 2016] — Mineração Serra Verde (MSV), an advanced development stage rare earth project in central Brazil, announced today the appointment of Luciano de Freitas Borges, currently a member of the MSV Board of Directors, as Chief Executive Officer (CEO). Borges succeeds Interim CEO Adam Carte, Operating Partner of Denham Capital, effective immediately.

“I am honored to have the opportunity to lead this unique project at such a critical point in its development and look forward to developing Serra Verde into a leading provider of high-value Rare Earths,” Borges said. “I also want to thank Adam for his service during the interim period, as it laid the groundwork for MSV’s future success.”

Borges brings three decades of experience in Brazil’s mining industry, both in the government and private sector, to his new role. He has held a series of increasingly senior posts in Brazil’s Ministry of Mines, rising to the rank of National Secretary of Mines and Metallurgy. Following his government service, Borges held senior management positions with Gold Hills Mining and Amerix Precious Metals, and was CEO of Steel Investimentos e Participações S.A.

A graduate of the National University of Brasilia with master’s degrees in Economic Geology and Mineral Exploration Mineral Economics and Valuation of Mining Projects, Borges earned an MBA in Strategic Management from ESAD. The trained geologist is also fluent in Portuguese, Spanish and English.

The Serra Verde Deposit

Located in the State of Goias, an established mining region, Serra Verde hosts an NI 43-101-compliant resource of 911 million tonnes @ 0.12 percent TREO (based on an exploration area representing approximately 15 percent of the overall Serra Verde deposit area), with high-value critical and heavy rare earths representing more than 60 percent of the resource.

Serra Verde’s ionic clay mineralogy is analogous to the mineralogy currentlydetained by market-dominating southern China producers, but with rare earth grades three times higher than the average of those deposits, and ore volume 10 times larger. The Serra Verde deposit also benefits from access to roads, water and power within 40 kilometers of the site, plus community support.
The region’s high-value rare earth mix is consistent with projected demand growth from next-generation applications ranging from clean energy and hybrid vehicles to high-performance consumer electronics, industrial and military applications.

About Serra Verde

Mineração Serra Verde is an advanced development stage rare earth project located near Brasilia, in the State of Goias, a mining friendly jurisdiction. The size of the resource and the project’s ionic clay geology and freely liberated mineralization is similar in geology to the well-known heavy rare earth Chinese deposits. The weathered rock, saprolite ore allows for open pit, truck-and-shovel extraction — providing for cheaper, simpler processing and lower capex versus peers. Further, a large portion of the deposit is comprised of heavy and critical rare earths, which have a higher value as compared to light rare earths, giving the project the potential to challenge China’s dominance of the heavy and critical rareearth market. For more information, please visit:


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