C o lt R e s o u r c e s
Drilling works are well underway
‘The country has a mining legacy stretching 2,000 years back to Roman times and Martins points to a continuing enthusiasm and acknowledgement of the industry’s importance to the nation’s economic recovery’
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August 2014
Colt has also been able to draw vital investment from a number of Portuguese sources, part of a batch of investors including a Canadian pension fund and several institutions and individuals from Germany, Switzerland, China and Hong Kong. Construction company Teixeira Duarte is a key partner. “They are a big construction group working not only here but in Brazil and Angola,” Martins added. “They have a mining division which is developing several works for Portugal’s main copper mine Neves-Corvo and can help us to develop our projects. All our investors share our view and strategy and feel that they will see a good reward on their investment.” So far investment into the two projects has exceeded €60 million with Martins predicting another €100-130 million be needed before both sites become operational, making