Prospex Minerios Ltda. is a manganese mining company in Brazil. The company holds the Exploration Rights over two areas at the town of ‘Caetite’, south of the state of Bahia: “Açoita Cavalo”, DNPM 870.756/2005, 840ha, and “Rio das Antas”, DNPM 871.456/2007, 900ha. The region, which is well known for its manganese occurrences, is located 500km from the port of Ilheus, and 600km from the port of Salvador, both in the state of Bahia.

In July 2011 the Final Exploration Report was submitted to DNPM (Mineral Production Department of the Ministry of Mines and Energy) therefore it is expected that the Mining Rights shall be granted in the first half of 2013.

In August 2011 Prospex received the Environmental Licence issued by INEMA, which is the official state environmental institute.

In November 2011 Prospex was granted the Guia de Utilização (GU) which is the document issued by DNPM that allows Prospex to move and sell manganese ore from its mine while it doesn’t have the Mining Rights.

In December 2011 Prospex was granted the RADAR, which is the license by the Federal Government that allows companies to export.