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LISBON - Redcorp has received permission from Portugal’s Environmental Agency (APA) to revise its Environmental Impact Assessment (EIA) for the Lagoa Salgada polymetallic project without restarting the full permitting process, according to a press release from Mineral and Financial Investments Limited (LSE:MAFL).
The APA will allow Redcorp to apply Article 16 procedures, which permit developers to address environmental concerns through technical revisions rather than complete resubmission. Redcorp now has 180 calendar days to submit the revised documentation.
The company’s planned revisions include eliminating cyanide use in processing operations, enhancing protection of local aquifers, presenting alternative borehole locations, implementing real-time environmental monitoring, and applying Best Available Techniques across the plant layout and mine design.
Many of these environmental improvements have already been incorporated into Redcorp’s Optimized Feasibility Study, which is currently in progress and expected to be completed in September.
Jacques Vaillancourt, President and CEO of Mineral and Financial Investments, called the development "a constructive step forward" and expressed confidence that "the revised submission will meet the highest standards of environmental compliance."
While this procedural approval does not constitute project approval, it allows development to continue. If the revised submission is accepted, Redcorp anticipates a final EIA decision could be issued in the first quarter of 2026.
Mineral and Financial Investments holds a conditional 20% carried interest in Redcorp. The remaining interest is owned by Ascendant Resources, which recently became a wholly owned subsidiary of Cerrado Gold Inc. through a Plan of Arrangement that became effective on May 16, 2025.
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