Aguia Resources (ASX:AGR) has received a government grant of about $570,000 to help fund its continuing work on green copper processing technology at the Andrade Copper Project in Brazil.
The company says this grant was awarded by study and project funding agency FINEP, which is a part of the Brazilian Ministry of Science and Technology’s Research.
Furthermore, this grant will fund Aguia’s work in developing copper mining technologies including bio leaching, and ore sorting. The total budgeted cost for this project is about $770,000, and the company expects this development work to take 2 years. Aguia’s contribution will be about $200,000.
Commenting on the grant, Aguia Resources Managing Director Dr. Fernando Tallarico says: “This grant to help fund our Green Copper Project reaffirms the effort and quality of Aguia’s management. Furthermore, it demonstrates not only Aguia’s outstanding reputation in Brazil, but also the willingness of the Brazilian Government to support advanced technology, and innovative environmentally sustainable mining projects.”
“This grant to help fund our Green Copper Project reaffirms the effort and quality of Aguia’s management”
Aguia reports it will be collaborating with Brazilian consulting company Itatijuca Biotech, and the Federal University of Rio Grande do Sul (UFRGS) to further develop its bio leaching, and ore sorting technologies.
Aguia Resources is an ASX-listed multi-commodity development company with pre-production phosphate and metallic copper projects in the Brazilian state of Rio Grande do Sul.
These projects include the Três Estradas Phosphate Project where the company is planning to produce 306,000 tonnes of Pampafos (natural phosphate fertiliser) per annum.
It also holds the Andrade project which boasts an indicated mineral resource of 18.03 million tonnes of copper (Cu), with an average grade of 0.41% Cu and 1.87% silver (Ag).
Images: iStock