Aguia Resources (ASX:AGR) issues LI update on Brazilian phosphate project

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Aguia Resources (ASX:AGR) issues LI update on Brazilian phosphate project

 Aguia Resources (ASX:AGR) issues LI update on Brazilian phosphate project
Image source: © Thanagon | Megapixl.com

Highlights

  • Aguia Resources (ASX:AGR) has lodged supplementary information with FEPAM for TEPP installation licence.
  • The information comprises proposed activities, environmental plans and programs displaying the environmental management measures.
  • The licence will enable AGR to commence project construction along with earthworks, civil works, and processing unit installation.

Aguia Resources Limited (ASX:AGR) is focused on securing the Installation Licence (LI) for its Três Estradas Phosphate Project (TEPP), an open-pit mine in Rio Grande do Sul, Brazil.

The company recently witnessed a series of favourable developments in relation to the ongoing legal proceedings for the TEPP.

In the latest move, the company has lodged supplementary information regarding the grant of the LI with the Rio Grande do Sul State Environmental Agency (FEPAM) for its Brazilian phosphate project.

AGR lodges supplementary information

Aguia provided an update on the submission of the Basic Environmental Plan (PBA) in mid-January 2021. The plan includes the engineering studies needed for the grant of the LI for Phase 1 of the TEPP.  

Fast forwarding to May 2022, FEPAM requested supplementary information concerning certain aspects of the environmental programs and engineering projects.

Aguia (ASX:AGR) issues LI update

Source: © Terovesalainen | Megapixl.com

On 1 August 2022, AGR supplied the requested supplementary information, including details about the planned activities, environmental plans and programs reflecting the environmental management methods to ensure the PBA complies with all obligations under the environmental rules.

The company engaged Golder Associates, a globally renowned environmental services provider, to undertake this body of work.

AGR’s plan to commence project construction

The LI is an important permit for AGR to obtain in order to commence project construction. The company plans to commence earthworks, civil works and installation of the processing unit once the LI is received from FEPAM.

Subsequently, the Operation Licence (LO) will be granted once FEPAM validates that the completion of site installation is strictly within the guidelines detailed in the LI.

Aguia (ASX:AGR) issues LI update

AGR is yet to receive comments from FEPAM and looks forward to securing the environmental approval for the LI. 

AGR stock traded at AU$0.051 on 08 August 2022. 

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