Aguia Resources (ASX:AGR) has appointed Tim Hosking as CEO following William Howe’s resignation from his role as Managing Director and CEO, as well as the board.
Hosking has acted as the company’s Country Manager in Brazil since early 2024, playing a key role in the development of phosphate operations.
He was involved with Aguia’s securing of a lease agreement with Grupo Dagoberto Barcelos to manufacture Pampafos phosphate product, as well as obtaining financing from a Brazilian development bank, advancing mine planning at Tres Estradas, and organising offtake agreements for Pampafos. Pampafos is scheduled for first production in Q1 2026.
Last month, Aguia executed an agreement for a credit line for R$7.2 million ($2.06 million) the Regional Development Bank of the Far South for Tres Estradas, as reported by Mining.com.au.
Hosking has over two decades of experience in executive and project management roles, with 15 of those years spent in South America, specifically in Brazil and Peru.
He acted as Karoon Energy’s (ASX:KAR) South America General Manager for 12 years before joining independent US firm Glenfarne Group as Country Manager.
Hosking will assume management responsibilities for the Santa Barbara Gold Project in Colombia, along with his existing Brazil focus, as Aguia works to streamline mining and processing operations.
Now acting as CEO, Hosking says he sees “tremendous opportunities ahead” for Aguia as phosphate operations in Brazil continue to grow.
“Shareholders should recognize that we’re building a strong mining and processing business for an in-demand product, and our ongoing exploration drilling is uncovering promising new areas,” Hosking says.
“Global demand is driving favourable prices and our product will reduce reliance on imports in our region.”
Aguia, which has a market capitalisation of $29.66 million, is preparing for the lodgement and granting of an operation licence by finalising a field work program for Tres Estradas.
This will comprise the setting up of a site office, sanitation, power, and access roads to be done by the end of December 2025, as reported by Mining.com.au.
“It is clear that our gold project in Colombia has to date underperformed and we need to apply the same sort of oversight and operational rigour as we have done in Brazil,” Hosking adds.
Hosking says he has taken steps to “significantly reduce costs, which includes scaling back the workforce as well as streamlining other operations and processes” to deliver recoveries in gold processing at Santa Barbara.
Aguia expects to see an improvement to mine and mill productivity shortly after the mine manager reported that work done over recent months should upgrade the management and workforce from November 2025 onwards, as reported.
The company has conducted a detailed evaluation of the operating parameters and performance in underground and processing operations to upgrade staff in Q3 2025.
Write to Maddison Elliott at Mining.com.au
Images: Aguia Resources
