-- Helius Minerals (HHH.V) said Wednesday that Brazilian federal authorities approved a one-year conditional extension for the commencement of mining activities at the Serra Pelada mining concession.
Under the extension terms, Serra Pelada Companhia de Desenvolvimento Mineral (SPCDM), the titleholder of the concession, must satisfy regulatory, environmental and corporate compliance requirements within a 60-day extendable period, pursuant to the Brazilian Mining Code.
Helius said it will assist SPCDM in meeting the requirements within the timeframe.
The Serra Pelada project has been dormant since 2014, Helius said. In March 2025, the company secured an option to acquire a 75% interest in Serra Pelada through an agreement with Colossus Minerals.
"As we have been given the regulatory all clear to advance the Serra Pelada project, we look forward to exercising the option and completing major milestones in the near future as we advance all aspects of exploration and development activities," Helius President and Chief Executive Officer Christian Grainger said.