Expectations with the Equatorial Margin could revive mining in Calçoene, in Amapá

According to Estadão, the prospect of oil extraction on the coast of Amapá could revive Garimpo do Lourenço, a centuries-old gold extraction area in the Amazon linked to Eike. The report, whose title classifies it as a former miner, shows how the arrival of the oil industry can change a local economy in which mining is today the main activity.

In the city where the mining is located, Calçoene, around 12 thousand people live, in a coastal municipality in Amapá. According to the newspaper's report, mining is the economic engine of the place, and any change in this sector has repercussions on the entire population.

An excerpt from the investigation recalls that the city offers better port conditions than other points to support Petrobras in open sea operations. That's where the Equatorial Margin comes in: the presence of oil on the coast of Amapá should give impetus to mining in the region.

The report highlights three expectations. Suppliers in the oil sector could make the machinery that mining uses cheaper. His arrival would also bring qualified professionals to the region. Finally, the city's cash flow would increase, and the money collected would finance works that would modernize the district where the mining site is located.

From a fiscal point of view, the most sensitive point is the increase in municipal revenues, which depends on oil production getting off the ground and the revenue actually being invested in works. The facts established do not contain deadlines, values ​​or schedules, and therefore what is at stake is still an expectation.

Reading for those who invest in shares

For those who invest, the news is a regional signal, not market data. It does not bring volumes, schedule or impact on the revenue of companies in the sector, therefore there is no basis for estimating the effect on prices. What is worth monitoring are Petrobras' next official steps in the Equatorial Margin and the eventual confirmation of investments in support infrastructure in Amapá, before drawing any conclusions about the sector.

Automatically translated from Portuguese.