Belo Sun Mining - President and CEO, Peter Tagliamonte.
President and CEO, Peter Tagliamonte.
Source: Twitter (BMO Metals and Mining).
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  • The Supreme Court of Pará has overturned Belo Sun’s (BSX) preliminary suspension order
  • The order, issued by the Agrarian Court of Altamira, was related to the construction license and environmental license tied to the company’s Volta Grande Gold Project in Brazil
  • The Supreme Court ruled that the company properly consulted the neighboring community about the project and can proceed with its work program
  • Belo Sun is a mining company based in Canada with a portfolio of gold properties in Brazil
  • Belo Sun (BSX) is up by 42.85 per cent trading at $0.35 per share

The Supreme Court of Pará has overturned Belo Sun’s (BSX) preliminary suspension order.

The order, issued by the Agrarian Court of Altamira, was related to the construction license and environmental license tied to the company’s Volta Grande Gold Project in Brazil.

The Agrarian Court previously ordered the suspension until a socio-environmental study of the project’s neighboring community be carried out, as well as a process of informed consultation and consent.

The State Supreme Court overturned the suspension seeing no evidence of damage or harm to the community and confirming their lawful consultation.

“We are pleased with the ruling by the Supreme Court of Pará State and this decision confirms our belief that Belo Sun properly consulted with all local communities, including the communities living along the Xingu River,” stated Peter Tagliamonte, Belo Sun’s President and CEO. “Management continues to work diligently to advance the Volta Grande Gold Project.”

Belo Sun is a mining company based in Canada with a portfolio of gold properties in Brazil.

Belo Sun (BSX) is up by 42.85 per cent trading at $0.35 per share as of 9:30 am EST.

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