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Highlights
- Aguia Resources (ASX:AGR) has been engaged in ongoing legal proceedings concerning its Brazilian phosphate project.
- The reporting Justice of the appeal has granted a staying effect on the FPP’s appeal against AGR and FEPAM.
- AGR is committed to meeting FEPAM requirements to secure the installation licence for the TEPP in a timely.
Aguia Resources Limited (ASX:AGR) has been dealing with the ongoing legal battle concerning its Brazilian phosphate project. Following on from the previous development, the multi-commodity company has today provided another update in relation to the civil public action (PCA).
The PCA was filed against the company and the State Environmental Protection Agency (FEPAM) by the Federal Public Prosecutor (FPP) regarding the EIA (Environmental Impact Assessment) for the Três Estradas Phosphate Project (TEPP).
Staying effect granted on FPP’s appeal
The FPP had filed an appeal against the trial court decision to transfer the case to the State Court of Lavras do Sul. Recognition of the FPP’s lack of standing to sue and the Federal Court’s lack of jurisdiction to hear the case.
After the appeal was received, a single justice decision was given by the reporting Justice that resulted in a staying effect to the FPP’s appeal.
As a result, the PCA will not be sent to the State Court for until the merits of the FPP’s appeal are decided. The appeal concerns the matter of jurisdiction only.
Moving ahead with licencing process of TEPP
At present, AGR is engaged in developing a response to the appeal that is expected to be decided in the upcoming few months.
Notably, the company is moving forward with the licensing process of the Brazilian project, despite the filing of the appeal and ongoing proceedings.
To secure the TEPP installation licence in a timely manner, the company is focusing on addressing the requirements of the State Environmental Protection Agency.
AGR shares were trading at AU$0.056 midday on 08 July 2022, up more than 3.7% from the last close.