GEOLOGICAL RESOURCES

OPORTUNITIES IN PORTUGAL

Carlos Caxaria Direção Geral de Energia e GeologiaDeputy General Director

METALLIC MINERAL RESOURCES POTENCIAL

and

EXPLORATION CURRENT SITUATION

extractive industry

The area of Portugal is relatively small (92,090 km2 including islands), but its geological diversity is huge.

Mineralization in copper, zinc, tungsten, tin, uranium, gold and iron, among others, are identified in the country and have a great mining potential.

Great potential in ornamental stones.

Mineralized zones in pyrite and base metals

Main Occurrences:

Mines Operating:

- Aljustrel (Zn, Cu, Ag, Pb)- Neves Corvo (Cu, Zn, Ag,…)

Base Metals and Pyrite

Potential areas

Cooper and Zinc Production       

YEAR Mine

Production (Ton) Value (103 € )

2007 ALJUSTREL 0 0  NEVES CORVO 443.352 468.757Total   443.352 468.7572008 ALJUSTREL 37.670 31.804  NEVES CORVO 412.345 316.792Total   450.015 348.5952009 ALJUSTREL 0 0  NEVES CORVO 349.752 272.458Total   349.752 272.4582010 ALJUSTREL 4.428 3.186  NEVES CORVO 317.999 409.344Total   322.427 412.5302011 ALJUSTREL 23.985 22.837  NEVES CORVO 313.120 402.198 Total   337.105 425.035

Mineralized zones in tungsten and tin

Main Occurrences:

Mines Operating:

- Panasqueira Mines (WO3, Sn) Sojitz, Beralt,Tin &Wolfram Portugal S.A.

Tungsten and Tin

Potential Areas

YEAR SubstanceProduction (WO3Ton)

Value (103 € )

2007 Copper concentrates 258 189  Tin concentrates 48,4 321  Tungsten concentrates 1.456 15.260 2008 Copper concentrates 186 195  Tin concentrates 32 286  Tugsten concentrates 1.684 16.643 2009 Copper concentrates 164 100  Tin concentrates 35,7 254  Tungsten concentrates 1.410 12.777 2010 Copper concentrates 198 210  Tin concentrates 24,7 198  Tungsten concentrates 1.364 14.580 2011 Copper concentrates 238 286  Tin concentrates 45,3 654  Tungsten concentrates 1.399 23.361 

Mineralized zones in uranium

Main Occurrences:

Economic uranium deposit of Nisa

Studied uranium deposit, which awaits opening tender for open a mine and attribution of a surrounding area for exploration.

Uranium

Potential Areas

Mineralized zones in Gold

Main Occurrences

Iron deposition of banded iron range of northern Portugal

New Projects of Metal Ores

Concession Applications Signed during 2012 and Expected to Signed during 2013

  - Iron Ore (1- Moncorvo)

  - Tungsten, (Sheelite) (2- Tabuaço and Covas)

  - Gold (4- Boa Fé, Banjas, Jales, Penedono)

Note: The last grant for a metallic mine was attributed in the 80s (Somincor- Neves-Corvo, copper mines)

Metallic Exploration Areas

and new and oldExploitation Permits

Gold Jales, Banjas, Penedono, Boa Fé

Iron OreMoncorvo

Tungsten, (Sheelite)Tabuaço and Covas

Covas W

Tabuaço w

Boa Fé Au

MoncorvoFe

Jales Au

Banjas Au

Penedono Au Panasqueira

w, Sn

Neves CorvoCu, Zn

Aljustrel Cu, Zn

Iberian Pyrite Belt

Iberian Pyrite Belt, Portuguese sector

Ad. Matos & Pereira 2012, LNEG

Main Road infrastructure

MotorwayMain roadSecondary road

Mining permitMining contractProspecting and exploration contractProspecting and exploration application

Rail freight infrastructureMining pemit

Mining contractProspecting and exploration contractProspecting and exploration application

Harbour

Exploration Contracts and Investments Metallic and Non-metallic Minerals

(2000-2011)

2000 a 2003 2004 a 2007 2008 a 20110

102030405060708090

100110120130140150160170180190200210220

19

78

195

Contratos de Prospecção e Pesquisa (Metálicos e não metálicos)Nº Cont. Acum.

Number of Exploration Contracts Signed

0204060

8.936 40

Investi-mento de Prospecçã

o e Pesquisa (Metáli-cos e não

metálicos)

Milhões de €

Evolution of Exploration Investments (Metallic)

2000 a 2003 2004 a 2007 2008 a 20110

5

10

15

20

25

30

35

13

28 29

Contratos de concessão de Metálicos e não metálicosNº Cont. Acum.

Number of Exploitation Contracts Signed (Non-Metallic)

)

Exports of Metallic Minerals (Value)

)

Exports of Non-Metallic Minerals (Ton and Value)

Evolution of Imports and Exports of Industrial Minerals

Access to Mining Exploration Activity

- Submission of an initial proposal from the interested party;

- Opening of tender by publication in Official Journal;

Access to Exploration Activity

Information provided by the State under a tendering

- Areas with electrical and electromagnetic surveys

- Areas with higher density drilling

- All information concerning the respective test boring including access to logs

- Access to old closed mines information

Some Basic Features (by area)

- 3 +1 +1 years (Releasing 50% of the area available at the end of each period)

- Acquisition and Geophysical data reprocessing

- A minimum of meters of drilling in the initial period

- A minimum of investment in the initial period

Decision criteria by order of valuation

- Drilling program

- Investments in the initial period

- Compensation for the State

- Other exploration studies

CONCLUSION

- Direct negotiations and calls for tender, are part of the Government's strategy for the mining sector.

- It is the intention of the ministry of economy make Portugal the EU country with better investment attractiveness for mining sector.

- The goal is to attract new investors to the country, and create conditions to accelerate the knowledge of the areas with greatest mining potential in Portugal, and go into production as quickly as possible.

Ornamental Stones

IN PORTUGAL

Synthetic Overview

Ornamental Stones

Main Production Centers

- Granite - Limestone - Marble - Slate

Portugal occupies the 9th production position in the world

Evolution of Production of Ornamental Rocks (Ton and Value in the Quarry)

Exports of Ornamental Rocks (Value €)

THANK YOU FOR YOUR ATTENTION

Direção Geral de Energia e Geologia

http://www.dgge.pt/

carlos.caxaria@dgeg.pt