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Aguia Resources executive chairman Warwick Grigor said: “The Tres Estrades rock phosphate project is making steady progress towards achieving first production in March-April next year, enabling initial sales in the middle of 2026. This could be exceptionally profitable at recent phosphate prices. It is technically very simple, with the process involving free digging, drying and minor crushing.”
The company fully owns Tres Estrades, which is 320 kilometres from Porto Alegre, Rio Grande do Sul in Brazil. It benefits from world-class infrastructure, including roads, rail and ports, and sits in the region’s agricultural heartland.
Aguia recently locked in a $4 million loan from the government-owned Southern Development Bank in Brazil to refurbish the company’s leased processing plant and then kick-start mining operations at Tres Estradas.
The 20-year loan covers the initial $118,000 capital expenditure required to kick off mining activities and fund an estimated $1.97 million needed to bring the plant up to speed to process an initial 100,000tpa of phosphate.
The company is eyeing processing operations beginning early next year on its organic phosphate product, dubbed Pampafos. Recent field trials showed Pampafos rivals the performance of top-shelf imported fertilisers at a fraction of their price.
After a $1.97 million refurb and small capital expenditure outlay at the mine site, local mine services firm Contrasaper will then be positioned to smash into mining operations.
Contrasaper will undertake contract mining at the project and transport the phosphate to feed the processing facility at Caçapava do Sul, one of the oldest municipalities in the state of Rio Grande Do Sul.
While the Tres Estradas project seems set to add grunt to the company’s project mix, Aguia remains focused on its flagship Santa Barbara gold project in Colombia.
The company unearthed some seriously high-grade gold hits at Santa Barbara in July. It also pulled $316,600 from its first gold sales of 58 ounces (1.82 kg), providing a huge jump in gold material processed.
Management recently noted its underground development has pushed down to 150 metres, as it prioritises the high-grade Santa Barbara vein 1 to test its strike potential and prepare for a long-term ventilation system linked to the company’s nearby Mariana workings.
The company could be forgiven for turning one eye towards Tres Estrades with the latest impressive numbers from the economic study. Phosphate is the unsung hero of food production, and Tres Estrades should be viewed as a strategic gem. With growing demand for world food production due to an ever-increasing population, Aguia may have a very appetising opportunity on its hands and sit in a prime position to feed the future.
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