Aguia Resources (ASX:AGR) releases update on Brazilian legal battle - Kalkine Media

Highlights

• Aguia Resources has been actively pursuing the PCA concerning its Brazilian phosphate project.
• The FPP has filed an appeal against the trial court decision that sent the case to the State Court of Lavras do Sul.
• Aguia is working on a response to the appeal.
• The company is committed to meeting FEPAM’s requirements for the issue of the installation licence for the TEPP. AGR believes there is currently nothing preventing this process from moving forward.

Shares of Aguia Resources Limited (ASX:AGR) were noted in the green zone during the early hours of trading on 23 June 2022 after the company announced a relevant development in a public civil action (PCA). The PCA involves AGR with regard to the environmental licensing for its Brazilian phosphate project.

The multi-commodity company has been actively pursuing the PCA filed by the Federal Public Prosecutor (FPP) against AGR and the State Environmental Protection Agency (FEPAM). The PCA is regarding the Environmental Impact Assessment for AGR’s Três Estradas Phosphate Project (TEPP). 

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AGR actively engaged in response to the appeal

Last month, the Federal Trial Court sent the case to the State Court of Lavras do Sul. The court acknowledged the lack of jurisdiction of the Federal Courts to hear the case, a favourable first instance decision in legal proceedings concerning the TEPP.

In line with anticipations, the FPP has filed an appeal against the trial court decision.  

At present, AGR is working on a response to the appeal, which is anticipated to be decided in the next few months.

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Source: AGR website

Although the appeal has been filed and legal proceedings are ongoing, AGR believes that currently, there is nothing preventing the company from moving forward with the licensing process.

Moreover, AGR is focused on meeting FEPAM’s requirements for the issue of the installation licence for the TEPP. The company is dedicated to advancing its projects into production while continuing to pursue other opportunities within the sector.

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AGR shares were trading at AU$0.074 at the time of writing on 23 June 2022, up by 2.77% from the last close.