Votorantim Metals will invest R$ 24 million in mineral exploration in Bahia until the end of 2008. The Company signed – last Tuesday, June 17th, in Salvador - contracts with Mineral Research Company of Bahia (CBPM) to explore zinc in the cities of Irecê and Mundo Novo, and nickel in Pedras Altas.

The event took place at the Bahia Commercial Association (ACB), attended by Jaques Wagner, Bahia State Governor, Nilton Silva Filho, President Director of CBPM, and Jones Belther, Mineral Exploration Director at Votorantim Metals.
CBPM issued – in September 2007 – nine licitation editals for mineral exploration projects in the State. Votorantim Metals won the three competitions it took part in. "We believe in the mineral potential in Bahia, and we are going on investing in the State. Our work focuses on the search for new zinc and nickel deposits", states Jones Belther.

With the contracts signed, Votorantim Metals takes on the commitment to invest R$ 7.8 million in mineral researches within the next 24 months in Irecê. Votorantim Metals will also invest R$ 10 million in zinc mineral research in Mundo Novo, and R$ 2.5 million in nickel exploration in Pedras Altas, in the 24-month period. "In addition to these projects, we have had other areas at an early mineral research stage since 2002", completes Belther.

The Mineral Exploration area, a new work front by Votorantim Metals, will receive investments worth R$ 150 million in 2008, an amount 50% higher than that invested in 2007. The Mineral Exploration department is responsible for managing the projects in Brazil and abroad. Nowadays, Votorantim Metals has offices in Brazil, Bolivia, Peru, and Colombia, in addition to consultants in Canada, Mexico, and Argentina. Altogether, there are nearly 110 collaborators working in these countries.