Belo Sun Mining Provides Update on Volte Grande Project
Belo Sun Mining (BSX.TO) expects to provide a comprehensive update on the Volte Grande Project in Brazil by the end of the second quarter, the company said on Friday.Belo Sun was re-issued the installation license (LI) with updated conditions, for the project last February, and has since been working with the authorities to clarify the technical work required to satisfy the conditions. The update will outline the next phase of work as the project advances toward construction.The new LI, which is valid until April 2029, maintains the same project scope, studies, and layout, and allows Belo Sun to advance the project, the company added."The reissued Installation License is an important step forward for the Project and provides greater clarity on the permitting framework. We are encouraged by SEMAS's constructive and collaborative approach following the reinstatement of the LI, and by the ongoing dialogue as we work together to advance the Project to maximize its benefits for all stakeholders. Our focus remains advancing the Project responsibly while supporting employment, training and economic opportunities for local communities," said chief executive Clovis Torres.Belo Sun shares closed down $0.02, to $1.20 on Thursday on the Toronto Stock Exchange.