- Belo Sun (BSX) has detailed two court rulings concerning construction and environmental permitting
- The first ruling postponed a decision as to the competent environmental permitting authority for the Volta Grande Gold Project
- The second ruling upheld the suspension order against the Volta Grande construction license
- The company is now focused on moving forward with Volta Grande’s environmental licensing process under the guidance of the State Environmental Agency for the Government of Para (SEMAS)
- Belo Sun is a mining company based in Canada with a portfolio of gold properties in Brazil
- Belo Sun (BSX) is down by 47.14 per cent trading at $0.37 per share
Belo Sun (BSX) has detailed two court rulings concerning construction and environmental permitting.
The first ruling postponed a decision as to the competent environmental permitting authority for the Volta Grande Gold Project.
All parties will be notified to present additional statements regarding synergic impacts with the project.
Until the court issues a ruling, SEMAS will continue to act as the environmental permitting authority for the project.
The second ruling upheld the suspension order against the Volta Grande construction license. SEMAS will evaluate the project’s impact on indigenous communities while the Federal Court in Altamira will verify if the company is complying with a previous ruling issued in December 2017.
The company is now focused on moving forward with Volta Grande’s environmental licensing process under SEMAS’s guidance.
The rulings were verbally handed down by the Court of Appeals of the Federal Justice in Brasília. Belo Sun will provide an update if the written decisions are materially different.
Belo Sun is a mining company based in Canada with a portfolio of gold properties in Brazil.
Belo Sun (BSX) is down by 47.14 per cent trading at $0.37 per share as of 10:41 am EST.