Jaguar Mining (TSX: JAG) says it has negotiated a significantly reduced environmental fine with Brazil’s Minas Gerais state government related to a tailings rupture that occurred at the company’s MTL mine complex in late 2024.
The penalty stems from an infraction notice issued by the State Secretariat for the Environment and Sustainable Development (SEMAD) following a partial rupture in the Satinoco tailings pile at the company’s Turmalina gold mine, part of the MTL complex located 130 km northwest of Belo Horizonte.
The incident, which occurred in December last year, displaced hundreds of local residents and affected multiple structures in the surrounding area. Jaguar was forced to suspend mine operations immediately and received a fine of 320 million reais ($52.5 million) in January.
In a press release Monday, the company announced it has reached an agreement with SEMAD to pay a much lower…
