Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks IPOs and placings
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
Serabi Gold renews trial licence for Coringa
(Sharecast News) - Serabi Gold announced the renewal of its trial mining licence for the Coringa mine on Wednesday. The AIM-traded firm said Brazil's National Mining Agency (ANM) granted a three-year extension to its trial mining licence (GU) for Coringa.
Under the renewed licence, Serabi would be permitted to transport up to 50,000 tonnes of ore annually from Coringa to be processed at the Palito Complex.
Additionally, the environmental agency, Secretaria de Estado de Meio Ambiente e Sustentabilidade (SEMAS), was currently evaluating the company's application for the installation licence for Coringa.
However, it had confirmed that Serabi Gold's trial mining operating licence (GUOL) remained active and valid.
With the renewal of the licence, Serabi said it would be able to proceed with plans to install a crusher and ore sorter at Coringa, with the latter expected to be operational by the fourth quarter of 2024.
That, the board said, would enhance the efficiency and productivity of the mining operations at the site.
"This is extremely welcome news, which our management and legal team have been working on tirelessly over the past months," said chief executive officer Mike Hodgson.
"The agreement reached in July with the indigenous communities has been a pivotal moment in permitting success at Coringa followed by a further agreement with all parties signed in December, and sanctioned by the court allowing the ANM and SEMAS to renew the existing licences."
Hodgson said the new GU would allow the company to continue its current operations, adding that it was permitted to install the planned crusher and ore sorter under it and the accompanying GUOL.
"Whilst the permit has an annual limitation of 50,000 tonnes of ore that can be transported per annum from the mine, this would be sufficient for 2024, whilst we now focus on completing the final steps to complete the full permitting at Coringa."
At 1537 GMT, shares in Serabi Gold were up 27.28% at 49.64p.
Reporting by Josh White for Sharecast.com.
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity and Inclusion | Doing Business with Fidelity | Fidelity gender pay report | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Security | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.
