Jaguar Mining receives ANM OK for Turmalina prep work

Executive Summary

• Jaguar Mining received federal authorization from Brazil’s National Mining Agency (ANM) to commence essential preparatory work at the Turmalina mine, a key step toward restarting production.
• The company also secured a municipal “Alvara” permit valid for three months (renewable), enabling continued safety‑related activities such as building a secondary access route and upgrading ventilation.
• Production restart is still projected for Q1 2026, contingent on completion of the preparatory work and an independent technical audit confirming mine safety.

Key Details

• Federal Authorization: ANM approved Jaguar to begin preparatory activities at Turmalina, including development of a secondary access route to the Faina and C‑8 orebodies and modifications to the ventilation system; work started 9 Aug 2025.
• Municipal Permit (Alvara): Issued by Conceição do Pará municipality; permits preparatory work for three months with an option to extend another three months.
• Safety Audit & Legal Settlement: Jaguar is finalizing a term of agreement with the Public Prosecutor’s Office that mandates an independent technical audit of mine safety and includes payment to settle the remaining civil lawsuit related to the Satinoco dry‑stacked pile incident.
• Production Outlook: Full mining activities remain suspended; however, the regulatory milestones support a targeted restart of production in Q1 2026, pending ANM’s lift of remaining suspensions after audit completion.
• Historical Context: Turmalina operations have been on hold since Dec 2024 following the Satinoco incident; the company also holds significant gold land position (~45,000 ha) in Brazil’s Iron Quadrangle.

Notable Quotes

“The federal authorization granted by ANM, together with the recent issuance of the municipal Alvara permit, demonstrates a well‑co‑ordinated and phased regulatory framework that enables us to initiate essential safety and preparatory work at Turmalina… we expect ANM will lift the remaining suspensions, allowing for the safe and full resumption of mining operations.” – Luis Albano Tondo, CEO, Jaguar Mining Inc.