Jaguar Mining (TSX: JAG) has received federal approval to proceed with work at their Turmalina Mine in Brazil, which follows a tailings landslide that occurred in December 2024.
While the approval does not allow for the restart of mining operations, it allows certain preparatory work to occur that is required in advance of a restart. Scheduled work to occur includes the development of a second access route to the Faina and C-8 orebodies, and modifications to the ventilation system within the mine.
Notably absent from the approvals is the ability to address the stability of the tailings pile.
Sponsored · Emerita Resources Corp.
READ: Jaguar Mining Agrees To US$10 Million In Victim Compensation For Tailings Landslide
The approval follows a municipal permit that also allows for the preparatory work to occur in advance of the restart, which is valid for three months and may be renewed thereafter. A Terms of Agreement is also said to be in the process of being finalized with the Public Prosecutor’s Office in relation to a technical audit to confirm the safety of Turmalina and for payment to settle a civil lawsuit related to the tailings collapse.
Jaguar meanwhile is forecasting a restart of operations to occur in Q1 2026.
Jaguar Mining last traded at $4.25 on the TSX.
Information for this briefing was found via the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
