Aguia Resources Limited (AU:AGR) has released an update.
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Aguia Resources Limited, through its Brazilian subsidiary Águia Fertilizantes S.A., has signed a Memorandum of Understanding with Dagoberto Barcelos S.A. to process phosphate ore at a facility in Brazil. The agreement allows Aguia to lease the processing facility for an initial 10 years, with potential production expansion plans in place, tapping into Brazil’s phosphate market which currently relies heavily on imports. With production expected to begin by mid-2025, Aguia aims to establish a significant market presence in the region.
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