Belo Sun Mining (BSXGF) reports that the Federal Court of Altamira, has ruled on a case filed by the Federal Public Defender’s Office and the Public Defender’s Office of the State of Para in 2022 contesting the agreement made between the Company and the Brazilian National Institute of Colonization and Agrarian Reform in November 2021. The Judge has declared the INCRA Agreement null and void on procedural grounds. The ruling stated that INCRA had not completed an ordinance required to announce the measure taken by the government on the declassification of the area from agrarian reform. However, the Judge rejected the DPU’s request to annul the Volta Grande environmental licensing process and as requested by the Company excluded the DPE from the lawsuit. The Company will be evaluating all legal options, including a potential appeal of the decision and continuing to work with INCRA. Commenting on the Federal Court of Altamira ruling, Ms. Ayesha Hira, Interim President and CEO of Belo Sun, said, “We look forward to working with INCRA on the next steps following the ruling by the Federal Court in Altamira. We will also be evaluating all the legal options available to the Company. We believe PVG is well positioned to bring benefits to the surrounding communities, local farmers, landholders and the municipality. We continue to work to benefit the region and all stakeholders as we look to advance PVG.”
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