Aguia Resources Limited (ASX:AGR) Updates Progress on Brazil Phosphate Project
Project Progress
Aguia Resources Limited (ASX:AGR) reported significant advancements in its phosphate project in Rio Grande do Sul, Brazil. A long-term lease for the Tres Estradas processing facility was signed with Dagoberto Barcelos on February 19, 2025. Additionally, a mining and logistical service contract was secured with Contrasapper on May 9, 2025. The Brazilian Development Bank has initiated financing for the mine startup.
Operational Achievements
Exploration drilling is ongoing at Passo Feio and Vila Progreso, located within 20 km of the leased processing facilities. Aguia is also preparing to begin pre-sales of its Pampafos product in June 2025, with first sales expected in Q1 2026. The company anticipates annual production of 300,000 tonnes by 2027.
Executive Comments
Warwick Grigor, Executive Chairman, stated, “It’s been a productive period for Aguia in Brazil after signing the lease agreement with DB. We look forward to being ready for production by the end of 2025.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.
