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Jaguar Mining Announces Landmark Settlement of Major Environmental Fine, Delivering Substantial Financial Benefit
TORONTO, ON / ACCESS Newswire / July 14, 2025 / Jaguar Mining Inc. ("Jaguar" or the "Company"...
About this update from Jaguar Mining Inc.
[{"type":"text","content":"Jaguar Mining Announces Landmark Settlement of Major Environmental Fine, Delivering Substantial Financial Benefit TORONTO, ON / ACCESS Newswire / July 14, 2025 / Jaguar Mining Inc. (\"Jaguar\" or the \"Company\") (TSX:JAG) is pleased to announce the successful conclusion of negotiations regarding a significant environmental fine with the State of Minas Gerais, Brazil. The Company has reached a favorable agreement to settle this administrative penalty for BRL59,988,878.25, representing a substantial reduction from an initial estimated liability of R$320 million. This landmark settlement underscores Jaguar Mining's proactive engagement and unwavering commitment to responsible corporate conduct, strengthening its financial position and providing clarity for future operations.Context and ResolutionThe environmental fine stemmed from an infraction notice issued following a partial slide at the Satinoco dry stacking pile (refer to News Release dated December 09, 2024). From the outset, Jaguar Mining has been dedicated to a transparent and responsible approach to addressing the incident and its implications. Through extensive negotiation, the Company and the State of Minas Gerais reached a comprehensive agreement that acknowledges mitigating factors and reciprocal concessions, leading to the greatly reduced final amount.Key Terms of the AgreementThe settlement is structured with terms aimed at supporting the Company's financial liquidity and operational continuity, while providing fair compensation for the recognized damages caused by the incident:Socio-Environmental Projects Contribution:BRL24,500,000.00 (approximately USD 4.45M) will be allocated to specific socio-environmental projects within the State of Minas Gerais. Jaguar Mining will directly acquire the necessary items for these projects, allowing for flexibility in payment terms negotiated directly with suppliers, potentially extending payment periods and becoming more favorable to the Company's cash flow. The full completion of these projects is planned within 36 months of the agreement's judicial confirmation (a standard procedure).Installment Payment: The remaining balance of BRL35,488,878.25 (approximately USD 6.45M) will be paid in 60 equal monthly installments.Grace Period: A grace period of 12 months to start both installments, commencing from the date of the agreement'...