Agreement with Indigenous Communities for Coringa development
July 31 2023 - 1:00AM
Agreement with Indigenous Communities for
Coringa development
Serabi Gold plc (AIM:SRB,
TSX:SBI), the Brazilian-focused gold mining and
development company, announces that it has signed
an agreement with the representatives of the
indigenous communities (together “the
Parties”) confirming their support for
the long-term development of the
Coringa project and setting out the steps to be followed to
complete the consultation process (“the
Baú TI
Agreement”).
The agreement has been signed with Kabu
Institute (“Kabu”) and the Mantino Indigenous Association
(“Mantino”) who together represent all of the communities of the
Baú Indigenous Territory (“Baú TI”) and is the culmination of an
extended period of engagement with the indigenous communities to
fully understand and provide assurances regarding their
expectations about the project. The discussions have been
transparent and conducted with the knowledge of the relevant
authorities in Brazil including the offices of the public
prosecutor and represent a significant step in cancelling
restrictions regarding the issue of new licences. The agreement has
been presented and received approval of the Public Prosecutor’s
Office and the Federal Court.
Highlights
- The Parties have agreed not to take actions to suspend the
development of the Coringa project in recognition of the long term
direct and indirect local economic benefits.
- The Parties agree that the licences and titles granted to date
by the National Mining Agency (“ANM”) and the State environmental
agency (“SEMAS”) for the Coringa project are valid.
- Over the next 180 days the Parties will complete all remaining
aspects of the consultation process in compliance with Convention
No 169 of the International Labour Organisation (“ILO 169”).
- The Parties will adopt all necessary procedures within their
control for the implementation of definitive mining in accordance
with prevailing legislation and observing indigenous rights.
- The Parties have each undertaken to co-operate and take
individual and joint responsibility for meeting the commitments
they have made to each other.
- The Parties will permit SEMAS and the ANM to make all necessary
efforts to analyse or maintain the current licences and will not
prevent them from proceeding with the analysis of applications for
licence renewals or from the issue of new licences.
Mike Hodgson, CEO of Serabi
commented,
“This is a significant step forward for the
development of Coringa. We now have the formal support of the Kabu
and the Mantino who recognise the social and economic benefits that
Coringa will bring to the local communities. Whilst we still have
to complete the indigenous studies and the formal consultation
process, there is a willingness from all Parties for this to be
done as quickly as possible.
“I recognise that the past 18 months has
generated some uncertainty regarding Coringa and Serabi’s ability
to develop the project and realise its full potential. I hope that
others share my view that this agreement significantly reduces this
uncertainty and provides a strong platform for the Company to move
forward with confidence.”
The information contained within this
announcement is deemed by the Company to constitute inside
information as stipulated under the Market Abuse Regulations (EU)
No. 596/2014 as it forms part of UK Domestic Law by virtue of the
European Union (Withdrawal) Act 2018.
The person who arranged for the release of this
announcement on behalf of the Company was Clive Line, Director.
Enquiries
SERABI GOLD plc
Michael
Hodgson t
+44 (0)20 7246 6830
Chief
Executive m
+44 (0)7799 473621
Clive
Line t +44
(0)20 7246 6830
Fínance
Director m
+44 (0)7710 151692
e
contact@serabigold.com
www.serabigold.com
BEAUMONT CORNISH Limited
Nominated Adviser & Financial
Adviser
Roland Cornish / Michael
Cornish t
+44 (0)20 7628 3396
PEEL HUNT LLP
Joint UK Broker
Ross Allister
t
+44 (0)20 7418 9000
TAMESIS PARTNERS LLP
Joint UK Broker
Charlie Bendon/ Richard
Greenfield t
+44 (0)20 3882 2868
CAMARCO
Financial PR
Gordon Poole / Emily
Hall t
+44 (0)20 3757 4980
Copies of this announcement are available from
the Company's website at www.serabigold.com.
Neither the Toronto Stock Exchange, nor any other
securities regulatory authority, has approved or disapproved of the
contents of this news release.
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