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Highlights
- Aguia Resources has a phosphate project and a copper project in Brazil's Rio Grande do Sul
- The company has informed about latest developments related to settlement negotiations in the Public Civil Action involving AGR and the environmental licensing for its phosphate project
- The involved parties are working toward a written draft of settlement, with a May meeting planned
Aguia Resources (ASX: AGR), which has two fully owned projects (organic phosphate and green copper) in the Brazilian state of Rio Grande do Sul, has informed about latest developments concerning the ongoing settlement negotiations related to its phosphate project. Last month, the company again conducted a meeting with the public prosecutor and the associations against the backdrop of the Public Civil Action (PCA) for the environmental licensing of the project.
In the meeting, the parties to the PCA agreed that the parties' technical teams would now meet on 5 May 2023, where technical issues related to the likely settlement would probably be finalised. Besides, the parties are also prepping for a written draft of a settlement that would include all other obligations.
Image source: Company website
About Aguia Resources
Aguia's projects are located in the southernmost state of Brazil. The company has noted the significance of its organic phosphate project in the agricultural sector of Brazil, which relies on imported supplies. Besides working toward advancing the two existing projects into production, AGR is also exploring other opportunities in the commodities and mining sector.
The listed company’s shares were trading at AU$0.043 at the time of writing on 5 April 2023.
