AGR phosphate project hits milestone with impact assessment
Brazilian fertiliser developer Aguia Resources Limited (ASX:AGR) announced yesterday the completion of an environmental impact assessment (EIA) for their phosphate project Três Estradas. The assessment has now been submitted to FEPAM, the Rio Grande State Environmental Agency.
World-class engineering and consulting firm Golder Associates were brought in to conduct the assessment which involved 44 highly experienced professionals covering multiple disciplines.
The intensive program, which took 12 months, included environmental diagnostics across biology, geology, socioeconomic and cultural surveys of the project area.
If approved as expected, the project will be granted a Preliminary License, which represents a significant achievement for any mining project development in Brazil.
A Preliminary License also indicates de-risking of the project’s construction and production phase.
However it is an early stage of this company’s development and if considering this stock for your portfolio you should take all public information into account and seek professional financial advice.
During this step, a few things are determined, such as where the technical data resulting from the EIA will be presented and also where community consultations will take place, in an effort to obtain the social license to proceed.
“The submission of the EIA represents a significant step for Aguia and it again demonstrates the value that our technical team in Brazil are delivering,” Managing Director of Aguia, Justin Reid said.
“We look forward to socialising the project and meeting the community stakeholders in the forthcoming public consultation meetings and completing the important exercise of recognising the roles of all of the stakeholders who will be impacted by the Três Estradas project.”
The final report was filed and presented to FEPAM late last week. The EIA will now be reviewed by the agency, a process that’s expected to take 6-12 months. Providing the process continues without a hitch, the next step includes further discussions with FEPAM as well as public hearings in the Lavras do Sul area.
Progress continuing in other areas of development
While awaiting the review of the EIA, Aguia continue to work on developing capacity to progress on the Três Estradas phosphate project, namely with the completion of a Bankable Feasibility Study.
Another near term priority expected to begin in the first half of this quarter is infill drilling at the project site, which is intended to convert the current Inferred Mineral Resource to Measured and Indicated Mineral Resources as the basis for economic and production forecasts in the Bankable Feasibility Study.
The company also holds options in surrounding projects in Brazil which have high prospects of finding phosphate, and as such will be anticipating results pending exploration.
Aguia is a Sydney-based fertiliser company focused on exploration and development of phosphate and potash projects in Brazil to supply the Brazilian agriculture sector. It is currently in control of three large projects.