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Highlights
- Aguia Resources has received a non-refundable government grant of ~AU$570,000.
- The fund has been granted by FINEP (Study and Project Funding Agency), and is part of the Brazilian Ministry of Science and Technology's Research.
- The company had submitted request for the grant to fund continuing work on two innovative copper mining technologies - bio leaching and ore sorting.
- According to AGR, the grant shows willingness of the Brazilian Government to support advanced technology, and innovative environmentally sustainable mining projects.
In the latest announcement, ASX-listed multi-commodity company Aguia Resources Limited (ASX:AGR) revealed that it has been awarded a non-refundable government grant of approximately AU$570,000. The grant will aid the company in funding work being undertaken on green copper processing technologies.
The fund has been granted by FINEP (Study and Project Funding Agency), and is part of the Brazilian Ministry of Science and Technology's Research.
The company had submitted two innovative copper mining technologies - bio leaching and ore sorting - for the grant.
Data source: Company update, Image source: Company update © 2023 Krish Capital Pty. Ltd.
Aguia Resources is an ASX-listed company with two advanced mining projects in southernmost Brazil. The company wholly owns its cathode green copper and organic phosphate focused projects in Rio Grande do Sul.
Aguia’s plans for green copper project
Aguia plans to join hands with Itatijuca Biotech and UFRGS (Federal University of Rio Grande do Sul) for this project. Itatijuca is one of the distinguished consulting companies with a team of highly experienced and well-trained researchers focused on biotechnology. UFRGS is a highly regarded institution.
The green copper project for which this grant has been awarded has a budgeted cost of around AU$770,000, of which ~AU$200,000 will be Aguia’s contribution. The project is likely to take approximately 24 months.
AGR shares traded at AU$0.053 on 24 January 2023.