- Aguia Resources (AGR) receives a $570,000 government grant to help advance its Green copper project in Brazil
- The grant comes from the Study and Project Funding Agency (FINEP) as part of the Brazilian Ministry of Science and Technology’s research
- AGR will work with Itatijuca Biotech and the Federal University of Rio Grande do Sul (UFRGS) on the project
- The company will contribute an additional $200,000 towards the project, bringing the total funding to $770,000
- AGR shares were last trading at 5.3 cents at 11:30 am AEDT
Aguia Resources (AGR) has been awarded a $570,000 grant from the Brazilian government to help advance its wholly-owned Green copper project.
The funding will aid the development of two innovative copper mining technologies Aguia is working to establish: bioleaching and ore sorting.
The grant comes from the Study and Project Funding Agency (FINEP) and forms part of the Brazilian Ministry of Science and Technology’s research.
Aguia will work alongside Itatijuca Biotech and the Federal University of Rio Grande do Sul (UFRGS) on the project. Itatijuca is a consulting company consisting of experienced and trained researchers within the biotechnology sector.
Aguia Resources Managing Director Fernando Tallarico said the funding reaffirmed the “effort and quality” of the company’s management team.
“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,” Dr Tallarico said.
The total budget for the project is roughly $770,000, meaning the company’s contribution sits at around $200,000. The project is expected to take two years.
Aguia confirmed it remained committed to advancing its existing projects into production while keeping the door open to other opportunities from within the sector.
AGR shares were last trading at 5.3 cents at 11:30 am AEDT.