Aguia Resources (ASX:AGR) is planning to reassess the Lucena Phosphate Project in northeast Brazil while awaiting licence extensions from the National Mining Agency (ANM).
The company drilled Lucena in 2011–12 and announced a JORC inferred mineral resource of 55 million tonnes (Mt) at 6.42% phosphorus pentoxide in April 2013, with a preliminary pit design using a 3% cut-off grade. Exploration has also defined a 41.4Mt limestone resource with a preliminary pit design.
Lucena sits approximately 40km south of João Pessoa in Paraíba state, covering part of a broader project area first identified by the Brazilian Geological Survey in the 1970s. The project features road access, water, power, and proximity to sugarcane plantations, fertiliser blenders, and Cabedelo port facilities via 65km of paved roads.
Currently, Aguia holds 16 licences in Paraíba, with 12 awaiting ANM approval to progress to feasibility and the rest expected to enter a second exploration phase. The company says it has completed exploration and now awaits approval for a 12-month feasibility phase.
CEO Timothy Hosking says Aguia is ‘pleased’ to be progressing a renewed assessment of Lucena as part of the company’s larger development portfolio.
“Lucena provides a complementary growth opportunity in northeast Brazil at a time when the country is seeking to expand domestic fertiliser production and reduce reliance on imports,” Hosking says.
“We believe Aguia’s domestic project portfolio may be well-positioned to support potential strategic interest from fertiliser importers.”
Hosking adds that Aguia’s near-term focus remains on increasing Pampafos sales and strengthening operations in Rio Grande do Sul.
Brazil’s fertiliser market has changed materially since Lucena was last actively assessed. Just this month, the Brazilian Federal Senate approved Profert, a program designed to support domestic fertiliser production, reduce import reliance, and introduce local-content requirements for fertiliser blends. The bill remains subject to presidential assent.
According to Aguia, Paraíba’s acidic soils and extensive sugarcane production may support demand for phosphate, limestone, and soil-conditioning products, while the neighbouring state of Maranhão is a major soybean-producing region.
The company now plans to re-engage with ANM to progress licence extensions, which may require updated technical studies. These include completion of a project Feasibility Study, evaluation of potential direct application natural phosphate production (DAPR) through solubility testing, and agronomic testing.
Aguia also intends to undertake additional infill and extensional drilling to define the limits of phosphate mineralisation and support a JORC measured and indicated resource estimate.
Aguia Resources is a multi-commodity explorer and developer focused on gold projects in Colombia and phosphate assets in Brazil.
Write to Paula Fabe at Mining.com.au
Images: Aguia Resources
