Cerrado Gold's Lagoa Salgada Project Receives Consent to Submit Revisions to Its EIA Application to the Portuguese Environmental Agency
Key Environmental Improvements are being incorporated in the Ongoing Optimized Feasibility Study
TORONTO, ONTARIO / / July 14, 2025 / Cerrado Gold Inc. ("Cerrado Gold" or the "Company") is pleased to announce that its Portuguese subsidiary, Redcorp - Empreendimentos Mineiros, Lda. ("Redcorp"), has received notification from the Portuguese Environment Agency (Agência Portuguesa do Ambiente, "APA") confirming that it will permit application of Article 16 procedures that allows Redcorp to submit revised technical documentation and project improvements to address APA comments, in relation to its Environmental Impact Statement (EIA) as outlined below.
Under Portuguese environmental law, Article 16 of the EIA Legal Framework allows developers to revise and resubmit elements of a previously submitted project in order to address identified environmental concerns, without restarting the full permitting process. This mechanism is designed to improve project outcomes while maintaining regulatory integrity and efficiency (Decreto-Lei n.° 151-B/2013, Diário da República, 1.° série - N.° 211, de 31 de outubro de 2013).
The Company's Optimized Feasibility Study ("OFS"), which is well underway, has proactively contemplated the changes requested, which are aimed at further strengthening the environmental and operational robustness of the proposed mining operation. In addition, the Company is continuing with all other activities as planned, such as detailed engineering alongside the work related to the OFS to minimize any impact on the overall development schedule while the Article 16 requirements are in process.
While application of Article 16(2) does not constitute project approval, it is a formal step under Portuguese law that enables developers to address concerns raised during the initial review and implement modifications, avoiding a full resubmission or rejection of the project. If the revised submission is accepted, the Company anticipates a final Environmental Impact Statement (EIA) decision could be issued in Q1 2026.
APA's formal response follows Redcorp's request, made during the public consultation and hearing period, to initiate the procedure foreseen in Article 16(2). In its reply, APA confirmed that, based on the justification provided by Redcorp, there are no objections to applying the Article 16(2) procedure. The Company now has 180 calendar days from the date of the notification to submit the revised project elements and a synthesis report addressing the required components outlined in the legal framework.
The Company's revised submission will incorporate environmental and design improvements, including:
Elimination of cyanide use across all processing stages at Lagoa Salgada, replaced by flotation-only circuits that has been validated through recent metallurgical testing;
Enhanced protection of local aquifers and water resources, with new hydrogeological and geochemical control measures;
Presentation of alternative borehole locations to support regional emergency water supply resilience;
Deployment of a real-time environmental monitoring system, covering air, water, vibration, and noise parameters; and
Application of Best Available Techniques (BAT) across the plant layout and mine design, improving performance and minimizing impact.
Mark Brennan, CEO and Chairman of Cerrado Gold, commented: "This is a constructive step forward for the Lagoa Salgada Project and demonstrates APA's openness to a robust and transparent permitting process. We appreciate the opportunity to address concerns through technical and environmental improvements, which are seen as a typical request at this stage of the approval process. We note that many of the points raised by APA are already being integrated into the updated feasibility study due in September."
Mr. Brennan continued: "With strong support from our stakeholders, including EDM, we remain confident that the revised submission will meet the highest standards of environmental compliance and will position the project for successful approval with minimal delay. Cerrado reiterates its strong commitment to developing the Lagoa Salgada Project as a model of environmental and technical excellence, delivering value to local communities, stakeholders, and European critical raw materials supply chains."
The Company is further supported by its strategic partner in the project, EDM - Empresa de Desenvolvimento Mineiro, S.A. ("EDM"), a Portuguese state-owned mining development entity, with decades of experience in environmental remediation and mine water management. EDM has reaffirmed the strategic importance of the Lagoa Salgada Project to Portugal's mining sector and expressed full confidence in the project's ability to meet the highest environmental and operational standards.
Review of Technical Information
The scientific and technical information in this press release has been reviewed and approved by Andrew Croal, P.Eng., Chief Technical Officer for Cerrado Gold, who is a Qualified Person as defined in National Instrument 43-101.
About Cerrado
Cerrado Gold is a Toronto-based gold production, development, and exploration company. The Company is the 100% owner of the producing Minera Don Nicolás and Las Calandrias mine in Santa Cruz province, Argentina. In Portugal, the Company holds an 80% interest in the highly prospective Lagoa Salgada VMS project through its position in Redcorp - Empreendimentos Mineiros, Lda. In Canada, Cerrado Gold is developing its 100% owned Mont Sorcier Iron project located outside of Chibougamou, Quebec.
In Argentina, Cerrado is maximizing asset value at its Minera Don Nicolas ("MDN") operation through continued operational optimization and is growing production through its operations at the Las Calandrias heap leach project. An extensive campaign of exploration is ongoing to further unlock potential resources in our highly prospective land package in the heart of the Deseado Masiff.
In Portugal, Cerrado is focused on the development and exploration of the highly prospective Lagoa Salgada VMS project located on the prolific Iberian Pyrite Belt in Portugal. The Lagoa Salgada project is a high-grade polymetallic project, demonstrating a typical mineralization endowment of zinc, copper, lead, tin, silver, and gold. Extensive exploration upside potential lies both near deposit and at prospective step-out targets across the large 7,209-hectare property concession. Located just 80km from Lisbon and surrounded by exceptional infrastructure, Lagoa Salgada offers a low-cost entry to a significant development and exploration opportunity, already showing its mineable scale and cashflow generation potential.
In Canada, Cerrado holds a 100% interest in the Mont Sorcier high-purity high-grade DRI Iron project, which has the potential to produce a premium iron concentrate over a long mine life at low operating costs and low capital intensity. Furthermore, its high-grade and high-purity product facilitates the migration of steel producers from blast furnaces to electric arc furnaces, contributing to the decarbonization of the industry and the achievement of sustainable development goals.
For more information about Cerrado please visit our website at: www.cerradogold.com.
Mark BrennanCEO and Chairman
Mike McAllisterVice President, Investor RelationsTel: +1-647-805-5662mmcallister@cerradogold.com
Disclaimer
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This press release contains statements that constitute "forward-looking information" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.
Forward-looking statements contained in this press release include, without limitation, statements regarding the business and operations of Cerrado and its subsidiaries. Although the Company believes that it will receive a favourable EIA decision, no assurance can be provided. In making the forward- looking statements contained in this press release, Cerrado has made certain assumptions. Although Cerrado believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to general business, economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, Cerrado disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
SOURCE: Cerrado Gold Inc.
View the original press release on ACCESS Newswire
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
23 minutes ago
- Yahoo
A More Affordable EV Won't Save Tesla
Key Points Tesla fell 5% after hours on its second-quarter earnings report. Some investors saw production of a new, more affordable vehicle as a positive sign. The company launched its robotaxi network in June. These 10 stocks could mint the next wave of millionaires › Tesla (NASDAQ: TSLA) issued another disappointing earnings report on Tuesday. Switch Auto Insurance and Save Today! Affordable Auto Insurance, Customized for You The Insurance Savings You Expect Great Rates and Award-Winning Service The leading electric vehicle (EV) maker finished the after-hours session down 5%, but the sell-off could have been worse. The company reported a decline in both sales and profit. Revenue was down 12% to $22.5 billion, and adjusted net income was down 23% to $1.39 billion, or $0.40 per share. Those numbers actually topped a muted revenue estimate at $22.13 billion, while the bottom-line consensus matched the results at $0.40. Tesla's problems have been well-documented at this point. CEO Elon Musk's turn in the political spotlight seemed to backfire after his relationship with President Donald Trump went sour. Due in part to Musk's involvement with politics, the brand has become unappealing in the eyes of some potential buyers, leading to a 16% decline in automotive revenue. Sales have plunged in Europe, and the company is losing ground to more affordable Chinese EVs. One seemingly bright spot Musk has a long history of overcoming weak results by telling investors what they want to hear on the earnings call, including making big promises about its robotaxi network and other initiatives in autonomy like its Optimus robot. He seemed to do that again on the latest earnings call, with some comments about the more affordable model he has long promised, which some have dubbed the Tesla Model 2. Musk said that the company started production of the vehicle in June and is ramping up production now. He added: "The goal with those products was not to negatively impact revenue or gross margin, but just to make a car that everyone loves and wants at a more affordable price." Musk has long argued that price competition was one of the biggest headwinds facing the company, but the brand crisis seems to have overshadowed that. By introducing its own lower-priced model, Tesla may end up cannibalizing its more expensive vehicles. Customers may be choosing between a more expensive Tesla and that lower-priced model, rather than another brand. The new vehicle is just a cheaper Model Y, rather than a brand-new vehicle model. The robotaxi initiative The biggest reason Tesla has maintained its premium valuation even as sales and profits have tumbled is that investors believe that Tesla's robotaxi network could go mainstream, fulfilling Musk's long-term vision. However, the robotaxi has gotten off to only a modest start after launching in June, and it seemed to get less attention on Tuesday's earnings call, though Musk reminded the audience: "As you can tell, autonomy is the story." Management said that robotaxis in Austin, Texas have topped 7,000 miles with no significant safety interventions. The company is aiming to launch the robotaxi in the San Francisco Bay Area next. Tesla needs growth in its core business Investors have bid up Tesla stock on hopes for its initiatives in robotaxis and more affordable vehicles, but the company needs to return to growth in selling EVs for the stock to be successful over the long term. The decline in EV sales is a reflection of a backlash against Tesla's brand. The company is also expected to struggle over the next few quarters due to the elimination of the EV tax credit and a change in other federal policies that supported EV adoption. The company also faces a $300 million effect from tariffs. Tesla could get back on track, especially if the robotaxi network takes off. But the current valuation in the stock leaves little room for upside if it does, especially given the persistent challenges in EV sales. While a more affordable vehicle might be a step in the right direction, it seems more likely to undercut demand for Tesla's more expensive vehicles, rather than competing with alternatives. Should you buy stock in Tesla right now? The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $636,628!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,063,471!* Now, it's worth noting Stock Advisor's total average return is 1,041% — a market-crushing outperformance compared to 183% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025 Jeremy Bowman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Tesla. The Motley Fool has a disclosure policy. A More Affordable EV Won't Save Tesla was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Galan Lithium Limited: Incentive Regime for HMW Project in Argentina
PERTH, Australia, July 28, 2025 /PRNewswire/ -- Galan Lithium Limited (ASX: GLN) ("Galan" or "the Company") is pleased to advise that the Comite Evaluador de Proyectos RIGI, responsible for awarding the Argentine Government's Régimen de Incentivo para Grandes Inversiones (the incentive regime for large-scale investments referred to as the "RIGI"), has approved the RIGI for Galan's flagship Hombre Muerto West ("HMW") Project in Catamarca Province, Argentina. Galan now expects to receive official approvals relating to the RIGI in due course. The RIGI is a landmark investment framework introduced as part of the Government of Argentina's new economic reform agenda, aimed at encouraging large-scale investment in key sectors, including mining. The RIGI provides long-term certainty on tax and foreign exchange regulations, as well as streamlined permitting, both critical enablers for project financing, efficient construction and operation of the HMW Project over its multi-decade life. HMW will be only the sixth project to receive the RIGI approval in Argentina and the second in the mining sector, following the recent award to Rio Tinto's Rincon project. Managing Director, Juan Pablo ("JP") Vargas de la Vega, commented: "This is a major milestone for Galan that will further strengthen HMW's global competitive position as a future low-cost producer. The RIGI will provide a strategic advantage to Galan and will unlock meaningful long-term value for the people of Catamarca and our shareholders. The RIGI delivers fiscal stability and operational certainty over the long-term, key requirements for major project financing and execution. It also signals strong alignment between Galan and the Argentine government's broader vision of accelerating lithium production and economic development. Galan sincerely thanks the Government of Argentina and the Province of Catamarca for endorsing HMW for official approvals under the RIGI which further substantiates HMW as a significant project in Argentina and globally." Key Benefits of the RIGI for the HMW project: Reduced Corporate Income Tax: a significant 10% reduction in corporate income tax rate to 25%. Fiscal Stability: Certainty around income tax, royalties, and export duties for 30 years. Foreign Exchange: Preferential access to currency markets for imports and dividend repatriation. Customs & Tariff Exemptions: Reduced barriers for importing critical equipment and materials. Accelerated Depreciation: Improved cash flow through tax-effective project development. About Hombre Muerto West HMW is a multi-decade, lithium brine project in Argentina with compelling economics. Phase 1 provides for a 4ktpa LCE operation, producing a 6% LiCl concentrate product over a projected 40-year life (1). Galan expects first Phase 1 production in H1 2026 and has secured an offtake agreement for 45,000 t LCE of production. Beyond Phase 1, the Company will undertake a phased scaling approach, eventually ramping up to 60ktpa at the conclusion of Phase 4. This approach mitigates funding and execution risk and will allow for continuous process improvement. With a world class resource and a cost profile within the first quartile globally, HMW is a clear demonstration of the benefits of a high-quality lithium brine asset. These benefits are allowing Galan to progress through development and into production with a lower capital intensity and lower risk profile when compared to hard rock lithium (spodumene) projects. As importantly, lithium chloride is a key component for lithium iron phosphate (LFP) batteries, which have become the dominant battery product globally. With the ability to be cost effectively converted into a lithium dihydrogen phosphate or lithium carbonate, lithium chloride, as will be produced at HMW, is an ideal source for LFP batteries. The Galan Board has authorised this release. Please refer to the Mineral Resource Statement for Galan's Total Resources of 9.5Mt LCE. (1) Please refer to the announcement dated 3 July 2023 (ASX: Phase 1 of Hombre Muerto West (DFS Delivers Compelling Economic Results for Accelerated Production)). The Company confirms that all material assumptions underpinning the production target continue to apply and have not materially changed. For further information contact: COMPANY MEDIA Juan Pablo ("JP") Vargas de la Vega Matt Worner Managing Director VECTOR Advisors jp@ mworner@ + 61 8 9214 2150 +61 429 522 924 About Galan Galan Lithium Limited (ASX: GLN) is an ASX-listed lithium exploration and development business. Galan's flagship assets comprise two world-class lithium brine projects, HMW and Candelas, located on the Hombre Muerto Salar in Argentina, within South America's 'lithium triangle'. Hombre Muerto is proven to host lithium brine deposition of the highest grade and lowest impurity levels within Argentina. It is home to the established El Fenix lithium operation, Sal de Vida (both projects are owned by Rio Tinto following its successful acquisition of Arcadium Lithium). Galan also has exploration licences at Greenbushes South in Western Australia, just south of the Tier 1 Greenbushes Lithium Mine. View original content: SOURCE Galan Lithium Limited Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNN
an hour ago
- CNN
Trump's EU deal averts disaster. But few are cheering
The United States and the European Union avoided the worst-case scenario: a damaging, all-out trade war between allies that threatened to raise prices on a large number of goods and slow two of the world's largest economies. The framework delivered a sense of relief for both sides – but few are cheering the arrangement itself. The agreement, which sets a 15% tariff on most European goods entering the United States, is higher than the 10% tariff Trump put in place on April 2 and significantly higher than the average of around 1.2% from before Trump's presidency. But it's significantly less than the enormous numbers Trump had been threatening if an agreement wasn't reached. A deal with the United States felt like an impossibility in late May. Frustrated by a lack of progress in negotiations with the 27-member European Union, Trump on May 24 told the world he was done talking to some of America's strongest allies. 'Our discussions with them are going nowhere!' Trump posted on Truth Social. 'I'm not looking for a deal,' he said later that day in the Oval Office. 'We've set the deal — it's at 50%.' The statement — and the shockingly high tariff threat — stunned European trade negotiators and rallied Europe's leaders into action. They quickly agreed to kick talks into high gear. Trump, who has taken a particular liking to European Commission President Ursula von der Leyen, was swayed after she called him to say the EU would commit to moving 'swiftly and decisively.' Trump soon backed off his threat and said negotiations would continue. But a deal between the United States and the European Union, one of America's top trading partners, had remained elusive for months. The two sides squabbled over America's insistence on high tariffs for steel and aluminum, looming tariffs on pharmaceuticals and the tariff floor for virtually all goods that the Trump administration appears set to raise to 15%. Negotiators were unable to come up with a resolution before the initial July 9 deadline — one of the reasons the Trump administration postponed the effective day for its 'reciprocal' tariffs to August 1. With just days to go before the extended deadline, while Trump was visiting Scotland, he met with van der Leyen and finalized a framework for an agreement — one that was thin on details, heavy on caveats, but was nevertheless a hard-sought relief for both sides. With the agreement in place, two of the world's largest economies avoided a potential economically crippling trade war. The United States held a 50% tariff threat over Europe's head, and Europe threatened America with strategic retaliatory tariffs that threatened to damage key US industries. Both sides appeared to embrace the fact that a deal was in place more than they celebrated it. 'We made it,' Trump said while announcing the deal with von der Leyen. 'It's going to work out really well.' 'I think we hit exactly the point we wanted to find,' von der Leyen said. 'Rebalance but enable trade on both sides. Which means good jobs on both sides of the Atlantic, means prosperity on both sides of the Atlantic and that was important for us.' Markets cheered, somewhat: Dow futures rose 150 points, or 0.3%, poised to open near record territory. S&P 500 futures gained 0.3% and Nasdaq futures were 0.4% higher. The United States and Europe 'seem to have avoided a self-destructive trade war for now in the biggest and deepest commercial and investment relationship the global economy knows,' said Jörn Fleck, senior director of the Atlantic Council's Europe Center. Nevertheless, the details remain murky. Europe will increase its investment in the United States by $600 billion and commit to buying $750 billion worth of US energy products. It eliminates tariffs on a variety of items, including aircraft and plane parts, semiconductors, generic drugs and some chemicals and agricultural products. Maury Obstfeld, senior fellow at the Peterson Institute for International Economics, note many of those investments were already in place. And the agreement appears to do little to eliminate the EU's non-tariff barriers, such as value-added and digital taxes that the Trump administration had railed against. 'There are many things that puzzle me about this agreement,' Obstfeld said. Industries in the zero-tariff arrangement cheered. 'The zero-for-zero tariff regime will grow jobs, strengthen our economic security and provide a framework for U.S. leadership in manufacturing and safety,' Airlines for America said in a statement. But the 15% baseline tariff applies to most goods, so the EU member states – and American importers — will have to come to terms with the fact that higher tariffs will raise prices for European goods in America. 'You're going to pay more for your European imports. That's what this means,' said Joe Brusuelas, chief economist at RSM. 'This doesn't enhance trade, this just sets a tax on European goods in the United States.' The agreement also deals another blow to Detroit automakers, which objected to a similar deal the Trump administration reached with Japan. The 15% auto tariff on EU cars imported to the United States undercuts the 25% tariff American automakers pay if their cars are built in Mexico. Although von der Leyen said pharmaceuticals were included in the early framework, she acknowledged that Trump may ultimately place higher tariffs on drugs imported to the United States, undercutting the agreement. Still, in the eyes of the hard-working negotiators — and for the sake of the global economy — a deal is better than no deal. 'We avoid a tit-for-tat retaliation between Washington and Brussels that would've spilled over into the far more important services sector,' Brusuelas said. Now comes the hard part: figuring out the details. CNN's Matt Egan contributed to this report.
