:shock:
Aktuell kommen Erinnerungen zu Colossus Minerals in mir hoch.....
Belo Sun's Volta construction licence remains suspended
2022-04-26 09:08 ET - News Release
An anonymous director reports
BELO SUN REPORTS ON TWO COURT RULINGS
Belo Sun Mining Corp. has provided a corporate update reporting on rulings by the Court of Appeals of the Federal Justice in Brazil.
The two cases before the Court were (i) the determination of the competent authority for the environmental permitting of the Volta Grande Gold Project (SEMAS or IBAMA) (see press release dated July 12, 2019, link: Belo Sun Mining Corp: News ); and (ii) ruling on the suspension order against the Volta Grande Construction License (see press release dated December 6, 2017, link: Belo Sun Mining Corp: News Releases ).
The Court has verbally advised the Company of the rulings, however it has yet to publish the written details of the ruling. Belo Sun will provide an update on the ruling if the written decision is materially different than what was verbally announced by the Court once details of the decision have been published.
SEMAS or IBAMA Authority
Belo Sun reports that a three-judge panel of the Court has decided to postpone the ruling on the competent permitting authority for the environmental permitting of the Volta Grande Gold Project. The Court ruled that all parties will be notified to present additional statements regarding synergic impacts with the Volta Grande Gold Project.
Until the Court issues a ruling, SEMAS (State Environmental Agency for the Government of Para) will continue to act as the competent authority for the environmental permitting of the Volta Grande Gold Project.
Construction License (LI) Suspension
Belo Sun reports that a three-judge panel decision by the Court has ruled unanimously that it will not lift the Construction Licence suspension. The ruling of the Court decided that SEMAS will analyze if the indigenous studies' conditions have been met. Furthermore, the Court ruled that the Federal Court in Altamira will verify, after SEMAS' decision regarding the matter, whether the Company has fulfilled the conditions required in the Court's ruling issued in December 2017.
Belo Sun, while disappointed that the suspension was not immediately lifted, is pleased that the company is now in a position where the environmental licensing procedure can move forward without having to wait for a new ruling from the Court of Appeals of the Federal Justice in Brasilia.
About Belo Sun Mining
Belo Sun is a Canadian-based mining company with a portfolio of gold-focused properties in Brazil. The Company is currently focused on the development of the Volta Grande Gold Project. Belo Sun trades on the Toronto Stock Exchange under the symbol "BSX" and on the OTCQX under the symbol "BSXGF".
https://www.stockwatch.com/News/Item/Z-C!BSX-3240317/C/BSX