Eagle Star Minerals Corp., a Canada-based company focused on the acquisition, exploration and development of mineral properties in North and South America, is working on developing its 100%-owned Ruth Agriminerals project in north-eastern Brazil.
The Ruth deposit, located near the cities of Picos and Eliseu Martins in Piaui state, covers approximately 911km2 across 52 phosphate claims. Located within 200km from Eagle Star’s Agnico Iron project, this agriminerals project is also less than 250km away from the Balsas Agricultural Center and is believed to host large phosphate resources. The company told IM that, although focusing on phosphate, it believes that the deposit also has a potash potential.
Eagle Star believes it could begin phosphate production within the next few years, however underlining that the project is still at an early stage to give a precise date.
The company also plans to take advantage of the Brazil’s Transnordestina railroad...