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Brazilian state government grants Aguia's Três Estradas project priority status

The Rio Grande do Sul state government in Brazil has granted Aguia Resources Ltd.'s Três Estradas phosphate project priority status, the company said March 30.

"Through the Sala do Investidor and the Manager appointed to Aguia, we will be able to gain priority access to key State agencies that will be instrumental in the development of our project in the near future," said Fernando Tallarico, the company's technical director.

The Sala do Investidor coordinates the various stages of the project where government action or regulation is required, including identifying financing options via Banrisul, the local development bank, and coordinating with the municipal government.

Additionally, each priority project has a manager that is responsible for monitoring project stages and providing guidance on taxation and fiscal incentives, financing options, environmental permitting, logistics and infrastructure.