Belo Sun views the ruling as a “positive development” for Volta Grande, as SEMAS had been conducting the project’s permitting up until that point and issued its preliminary environmental and construction licences in 2014 and 2017, respectively.
The Volta Grande mining licence covers 24 sq. km of the Três Palmeiras greenstone belt in Pará state, though the actual area dedicated to mining is approximately 10 sq. km. The project is located 60 km southeast of the city of Altamira.
Commenting on the positive ruling, CEO Ayesha Hira said: “We welcome the TRF1 court ruling confirming SEMAS as the permitting authority for the project, an agency that is already familiar with PVG (Volta Grande), and one that has been permitting mining projects in this important mining jurisdiction in Pará state.”
Shares in Belo Sun Mining surged past its previous 52-week high to reach C$0.14 by noon ET Thursday, for an…
