ASX-listed and Brazil-based copper explorer Aguia Resources (ASX:AGR) confirmed its receipt of $570,000 from the Brazilian Government for its two local projects on Friday.
The company operates two plays in Brazil’s south:
Across its Rio Grande copper assets, Aguia has permits for some 405sq.km, according to the company’s website. The company was busy drilling at ACP through 2022, turning over high-grade copper hits in August 2022.
Likewise, the TEPP won enhanced approvals back in November last year.
While Aguia describes the funds as instrumental to the development of both projects, the company highlighted that the payment comes from Brazil’s Ministry of Science and Technology Research (MSTR) for downstream copper research.
For those playing at home, in Portuguese, that’s the Ministério da Ciência e Tecnologia.
“This grant to help fund our Green Copper Project…demonstrates Aguia’s outstanding reputation in Brazil [and] the willingness of the Brazilian Government to support…sustainable mining projects,” Aguia chief Dr. Fernando Tallarico said.
Aguia will partner with Brazil’s Federal University of Rio Grande do Sul (UFRGS) and local company Itatijuca Biotech to focus on two areas of its downstream copper development: “bio leaching” and ore sorting.
Aguia describes its Andrade play as a ‘green copper’ project, with the company keenly focused on boosting the ESG profile of its exploration project.
Itatijuca, Aguia, and the boffins at UFRGS will team up to develop a viable methodology for hard-rock ore leaching that minimises as much as possible the use of hard-to-dispose industrial acids.
Acid leaching is the dominant methodology used in hard-rock mining to separate valuable target minerals from waste rock that hosts the metals in question.
One other thing worth noting: the company has also hit silver at Andrade more than once.
Copper, too, is an often overlooked battery materials metal, but that reputation is slowly pivoting towards the electrification market.
Get the latest news and insights direct to your inbox