Pedra Branca Regulatory and Development Update

AVANCO is pleased to report that a successful public hearing was recently held for the proposed development of the Pedra Branca Copper Project, in Carajas, Brazil. No objections were recorded at the hearing, indicating a strong level of local support.

The implementation of Pedra Branca requires approval from various regulatory authorities, including the State environmental body Secretaria de Estado de Meio Ambiente do Pará (SEMA). The Public Hearing represents an important component of the Brazilian Mining and Environmental Legislation Code1 and is a necessary step towards the granting of the Provisional Environmental License (LP).

Whilst further consultation and approval by, Government agencies is required, the successful completion of the Public Hearing or “Audienca Publica”, is regarded as a positive and significant step forward for the granting of the LP. The Public Hearing saw significant interest with approximately 800 people from the surrounding communities participating (see Picture 1). Importantly, numerous State and Municipal politicians, including the Pará State Vice Governador, the Secretary of Environment of Pará and the local Mayor of Agua Azul2 , were in attendance.

Avanco Director, Luis Azevedo outlined Avanco’s interest in developing Pedra Branca while our environmental consultant, Terra Ambiente, presented the Project’s environmental features, controls and expected outcomes. Following the presentations, members of the public actively participated in a question and answer session. Luis Azevedo responded to approximately 60 questions over a period of three and a half hours. Questions and discussions included: • direct job creation for the local and surrounding communities;

• prioritising the employment of local people and suppliers;

• anticipated tax revenues;

• impact of the proposed underground mine on local farmers; and

• responsibility for maintenance of local roads. There were no serious concerns raised by the local communities and Avanco committed to supporting improvements to local infrastructure and giving priority to the employment of people from Agua Azul.

Following a period of further consultation, the environmental authorities will review the matters raised during the public forum and where deemed appropriate, integrate them into the LP. Grant of the LP is expected late Q3-2018 with the subsequent Installation License (LI)4 before year end.

Avanco Director, Luis Azevedo outlined Avanco’s interest in developing Pedra Branca while our environmental consultant, Terra Ambiente, presented the Project’s environmental features, controls and expected outcomes. Following the presentations, members of the public actively participated in a question and answer session. Luis Azevedo responded to approximately 60 questions over a period of three and a half hours. Questions and discussions included:

• direct job creation for the local and surrounding communities;

• prioritising the employment of local people and suppliers;

• anticipated tax revenues;

• impact of the proposed underground mine on local farmers; and

• responsibility for maintenance of local roads. There were no serious concerns raised by the local communities and Avanco committed to supporting improvements to local infrastructure and giving priority to the employment of people from Agua Azul.

Following a period of further consultation, the environmental authorities will review the matters raised during the public forum and where deemed appropriate, integrate them into the LP. Grant of the LP is expected late Q3-2018 with the subsequent Installation License (LI)4 before year end.

Fonte: Avanco Resources