Brazilian Miner Identifies Lithium-Bearing Minerals at Project

Lithium is a building block for electric cars, smartphones and other emerging technologies. And Brazil Minerals wants to be at the forefront of lithium exploration.

Brazil Minerals (OTCPK:BMIX) announced that the identification of a new area of two lithium-bearing materials in its hard rock lithium project in Minas Gerais.

The Minas Gerais project has over 57,800 acres. Brazil Minerals’ other project is in the Northeast part of Brazil with over 23,000 acres. The firm recently identified multiple pegmatites with 12 potential targets within a particularly prolific subarea encompassing 5,900 acres in its large Minas Gerais project.

Shares of the stock have leveled off from the beginning of the year, but are up substantially from 2020 levels. In afternoon trading, the stock is up over 3%.