Jaguar Mining Faces Setback in Licensing for Brazilian Gold Project

Jaguar Mining Inc., a Toronto-based company, recently announced a setback in its Onças de Pitangui underground gold project in Minas Gerais, Brazil. On October 30, 2026, the state environmental authority denied the project's Preliminary and Installation Licence. This follows a technical recommendation issued a day prior, citing insufficient technical data as a major reason.

Despite the denial, the authority did not mark the project as environmentally unfeasible. Instead, it highlighted that the project's viability wasn't demonstrated currently and suggested a re-evaluation of control systems. Jaguar Mining's CEO, Luis Albano Tondo, expressed disappointment but emphasized the company's commitment to correcting identified deficiencies and advancing the project's licensing.

The Onças de Pitangui project includes significant gold resources, acquired from IAMGOLD in 2023. Further exploration by Jaguar indicates a promising reserve and resource estimate. The project is approximately 110km from Belo Horizonte and close to Jaguar's Turmalina processing plant.