Aguia Resources Limited is re-assessing the Lucena Phosphate Project in north-east Brazil while awaiting licence extensions from the National Mining Agency.

The company drilled the project in 2011 and 2012, subsequently announcing an initial JORC Inferred Mineral Resource of 55 million tonnes at 6.42% P2O5 in April 2013. The deposit forms part of a broader project area first identified by the Brazilian Geological Survey in the 1970s.

Aguia holds 16 licences across Paraíba. Twelve of those permits are awaiting approval from the National Mining Agency to progress to a 12-month feasibility phase, while the remainder is expected to enter a second exploration phase. Having submitted licence extension applications before the previous exploration terms expired, the company plans to re-engage with regulators to advance the administrative process.

Planned technical work includes evaluating Direct Application Natural Phosphate production through solubility testing, conducting agronomic test work to assess product performance, and carrying out additional infill and extensional drilling. That drilling is intended to define the limits of mineralisation and support a future JORC Measured and Indicated Resource estimate.

The project area also hosts a standalone limestone resource totalling 41.4 million tonnes alongside sandstone waste, with a preliminary pit design already prepared.

“We are pleased to be progressing a renewed assessment of Lucena as part of Aguia's broader development portfolio. Our near-term focus remains on increasing Pampafos sales and strengthening our operating platform in Rio Grande do Sul.”

“Lucena provides a complementary growth opportunity in north-east Brazil at a time when the country is seeking to expand domestic fertiliser production and reduce reliance on imports. We believe Aguia's domestic project portfolio may be well positioned to support potential strategic interest from fertiliser importers.”

— Timothy Hosking, Managing Director and CEO

Renewed attention on the Paraíba holdings coincides with shifting domestic market dynamics, including the Brazilian Federal Senate's approval of the Profert program in August 2026 to support local fertiliser production and reduce import reliance.

Read the full announcement: AGR to Re-Assess Lucena Phosphate Project North-East Brazil