In Monte do Carmo, situated in the central region of Tocantins, a gold mining project is being developed with an estimated cost of US$ 250 million (approximately R$ 1.4 billion). The Hochschild Mining company, which is behind the project, anticipates that construction will commence in mid-2026, pending completion of internal investment decisions. The local municipality has a population of 5,694 as per the latest IBGE Census and is located a little over 90 kilometers from the state capital, Palmas.

The Tocantins state government has high expectations for the project's socio-economic impact, foreseeing the creation of around 2,000 direct and indirect jobs. The mine's development is seen as a pivotal opportunity for local employment and economic growth, particularly given the region's relatively small population. Currently, the project is in an engineering review phase, where its details are being refined to ensure a successful implementation.

Additionally, the Instituto Natureza do Tocantins (Naturatins) has granted the Installation License (LI), allowing the mining company to proceed with its plans. However, the commencement of construction remains conditional on certain investment parameters being satisfied. The community’s reaction to the project remains to be seen as it can significantly transform the local economy, but also raises concerns regarding environmental implications and resource management in the area.