An Indian fund that focuses on investing in real estate, renewable energy and mining
The extraction of iron scale in Uruguay, a possibility that was started driving a few years ago amid much controversy, is unknown for the short and medium term now failed signing of the contract between the government and the company Aratirí . The firm of Indian origin never quite meet official requirements for environmental qualification, so the executive refused to give free rein to your project. However, megaminería law gives a new opportunity and Aratirí going for revenge.
It does so with a company based in Mumbai (India), which is dedicated to investing in different types of projects: real estate, renewable energy and mining. The experience in that area has it in Singapore, where in 2012 he got into the exploration of gold and coal. Then, in 2015, and in partnership with Zamin Ferrous (Aratirí) the Amapá project joined in northern Brazil.
About this signature raved Uruguay, and on its website describes achievements of the country and commended the government. “Uruguay is a bastion of pragmatic economic policies that favor business and foreign investment,” says the company. Then ensure that the country is on a path of “formidable” growth and macroeconomic soundness ponders, “social and political” stability and “strong legal certainty”.
Aurum explains that his association with Aratirí in Uruguay involves developing the project Valentines (Thirty-Three) to a slower than raised at the beginning of all the controversy pace. While Zamin Ferrous intended to extract 18 million tons of iron concentrate per year, over a period of 20 years, he says Aurum start the plan with half of that iron extracted per year, and then increase production.
While Zamin Ferrous intended to extract 18 million tons of iron concentrate per year, over a period of 20 years, he says Aurum start the plan with half of that iron extracted per year, and then increase production.
The Uruguay Free Megaminería group, environmentalists, who from the beginning are tipped against the draft Aratirí, have reported its position on the appearance of the new actor. “Who is Aurum Ventures? It’s an international investment fund based in India. It may be a different company, a partner or a mere figurehead of Zamin Ferrous, but none of these possibilities modifies the material fact that is investors seeking maximum returns in the category that suits them and anywhere in the world, “he says a text released by the spokesman of the organization, Raúl Viñas. Environmentalists speculate that goes Aurum Aratirí mining rights to, thereby, save them in the future financial market businesses.
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