Agromineral Mining Rights Aveiro/PA

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The Calcário de Aveiro and Gipsita do Rio Cupari projects are located in the municipality of Aveiro – PA, and will be offered at auction as a single project. The Aveiro Limestone Project comprises an area of 998.2 ha, corresponding to mining process nº 807.564/1976. The research work, which began in the 1970s, included opening trails, topographic survey, geological mapping, rotary drilling, sampling and chemical analysis and revealed the existence of an interesting limestone deposit. For the survey campaign, 77 holes were drilled, totaling 3,524.70 m drilled, with sampling criteria established for each 1.5 m interval. The survey was carried out in a regular grid in the N-S and E-W directions, with the holes spaced 1,000 m, 500 m and 250 m apart, carried out in three different phases. The average thickness of the limestone is 6.63 m, which reduces to the southeast and increases to the northwest, depending on the dip of the layer. The capping is not very thick, with a low waste/ore ratio for the entire mineral property of approximately 0.35. Current resource estimates were classified in the inferred category, in accordance with current standards and recommendations accepted by the mineral industry. As a result, the total resources inferred for the deposit correspond to 588 Mt with an average content of 0.97% Al2O3, 43.15% CaO, 5.67% MgO, 0.82% Fe2O3 and 6.17% SiO2. The Gipsita do Rio Cupari Project is located near Vila de Brasília Legal, municipality of Aveiro, state of Pará, and corresponds to mining processes 802.189/1973, 802.190/1973 and part of process 802.191/1973, totaling 3,885 hectares. The research work was carried out between 1973 and 1980 and included topographic survey, opening of 18 research wells, 85 mechanical auger borings (482.9 m), 27 rotary boring holes (757.01 m), sampling and chemical analysis . Geological modeling of the deposit resulted in inferred class mineral resources estimated at 326 million tons of ore, with an average yield of 88%. The average levels of CaO, SO3 and H2O obtained for the ore – 31%, 43% and 16% respectively – indicate that the gypsum from the Cupari River is of a high degree of purity, not requiring specific physical or chemical treatment, except washing in the portion where it is mixed with clay. The Investment Partnership Program Board recommended the qualification of the Aveiro Lime and Cupari River Gypsum projects through CPPI Resolution No. 155/2020. On 04/15/2021, Decree 10,675/2021 was published qualifying this project within the scope of the Investment Partnership Program. On 04/07/2022, CPRM published the Consultation and Public Hearing notices for this project in the Official Gazette. The Public Consultation was held between 04/07/2022 and 05/06/2022 and the Public Hearing was held on 04/27/2022. Further details are available at http://www.cprm.gov.br/publique/Acesso-a-Informacao/Leiloes-dos-Ativos-Minerarios-do-SGB-6571.html On March 23, 2023, the TCU did not identify any irregularities or improprieties that would discourage the regular continuation of the mining rights assignment process relating to the project, in accordance with Decision No. 525/2023-TCU-Plenário. The CPRM Presidency published Auction Notice No. 001/2023 on September 18, 2023. According to the Postponement Notice published in Section 3 of the Official Federal Gazette of 10/16/2023, the bidding was postponed. The new date for holding the public auction session (11/23/2023, at 10 am) was announced in the Bidding Notice published in Section 3 of the DOU of 10/18/2023. The auction documents are available at the following link: https://www.cprm.gov.br/publique/-7142.html On November 21, 2023, CPRM published Auction Suspension Notice No. 1/2023 in Section 3 of the DOU.