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Jaguar Mining Announces Agreement With the Public Defender's Office of Minas Gerais for Compensation to Local Community Members Affected by the Incident at Its Satinoco Dry-Stacked Pile
TORONTO, ON / ACCESS Newswire / March 26, 2025 / Jaguar Mining Inc. ("Jaguar" or the "Company...
About this update from Jaguar Mining Inc.
[{"type":"text","content":"Jaguar Mining Announces Agreement With the Public Defender's Office of Minas Gerais for Compensation to Local Community Members Affected by the Incident at Its Satinoco Dry-Stacked PileTORONTO, ON / ACCESS Newswire / March 26, 2025 / Jaguar Mining Inc. (\"Jaguar\" or the \"Company\") (TSX:JAG)(OTCQX:JAGGF) is pleased to announce that on Monday, March 24, 2025, the Company signed an agreement (the \"Agreement\") with the Public Defender's Office of Minas Gerais for the compensation of local community members affected by the previously announced incident at the Satinoco dry-stacked pile, which occurred on December 7, 2024 at the Company's MTL complex (see the press releases issued by Jaguar on December 9, 2024, December 30, 2024 and January 7, 2025). The MTL complex, which includes the currently suspended Turmalina mine, is located in the state of Minas Gerais, Brazil, approximately 130 kilometers northwest of the city of Belo Horizonte.As previously announced, there were no reported injuries or significant environmental impacts as a result of this incident. The incident did affect several houses and local infrastructure in the community of Casquilho. Since the incident, the Company has worked closely with community representatives, local authorities, and independent assessors to ensure an equitable resolution that meets the needs of those impacted, reinforcing the Company's commitment to responsible mining and strong community relations.The Public Defender's Office of Minas Gerais has issued a press release, in Portuguese in Brazil, regarding the Agreement, which can be viewed on Jaguar's website https://jaguarmining.com/investors/news-releases.Agreement Highlights:The Agreement sets out the parameters for fairly determining the compensation of individuals and families impacted by the incident in which they have been relocated from their homes since early December 2024.The Agreement guarantees compensation for land, housing, home improvements, expenses resulting from relocation, financial losses in commercial and service activities, interruption of income-generating activities, in addition to specific moral and material damages to the affected people.The Agreement is based on precedents from other mining incidents which have occurred in Minas Gerais.Next Steps Following Signature of the Agreement:The Public Defender's Office will...