LONDON, UK: Serabi Gold plc, the Brazilian-focused gold mining and development company, has announced that it has signed an agreement with the representatives of the indigenous communities confirming their support for the long-term development of the Coringa project and setting out the steps to be followed to complete the consultation process.

The agreement has been signed with Kabu Institute and the Mantino Indigenous Association, who together represent all of the communities of the Baú Indigenous Territory, located in the Tapajos region of Para, Brazil. The agreement is the result of an extended period of engagement with the indigenous communities to fully understand and provide assurances regarding their expectations about the project. The agreement has been presented and received approval of the Public Prosecutor’s Office and the Federal Court.

The agreement stipulates that the parties will not take actions to suspend the development of the Coringa project, which is expected to bring significant social and economic benefits to the local communities. The parties also agree that the licences and titles granted to date by the National Mining Agency and the State environmental agency for the Coringa project are valid. Over the next 180 days, the parties will complete all remaining aspects of the consultation process in compliance with Convention No 169 of the International Labour Organisation. The parties will adopt all necessary procedures within their control for the implementation of definitive mining in accordance with prevailing legislation and observing indigenous rights. The parties will also permit the relevant authorities to make all necessary efforts to analyse or maintain the current licences and will not prevent them from proceeding with the analysis of applications for licence renewals or from the issue of new licences.

Mike Hodgson, CEO of Serabi Gold, commented: “This is a significant step forward for the development of Coringa. We now have the formal support of Kabu and Mantino who recognise the social and economic benefits that Coringa will bring to the local communities. Whilst we still have to complete the indigenous studies and the formal consultation process, there is a willingness from all parties for this to be done as quickly as possible.”

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