Belo Sun Announces Reinstatement of Installation License for the Volta Grande Gold Project
MWN-AI** Summary
Belo Sun Mining Corp. recently celebrated a significant legal victory as the Federal Regional Court reinstated the Installation License for its Volta Grande Gold Project in Brazil, a permit initially suspended in 2017. On February 13, 2026, Desembargador Federal Flávio Jardim ruled in favor of Belo Sun, allowing the company to resume installation activities related to the gold mining project located in Pará State. This decision comes after the Federal Court of Altamira had upheld the suspension of the License, prompting the company to appeal.
The court's ruling acknowledged that Belo Sun had met all previously imposed conditions, including conducting a thorough Indigenous Component Study and engaging in appropriate consultations with local Indigenous communities, namely the Juruna and Arara. The consultations were deemed transparent and compliant with international standards. The court criticized FUNAI’s later position to reassess the consultation process, emphasizing that any further requirements must follow formal administrative procedures.
With the License now reinstated, Belo Sun is set to advance construction and installation activities for the Project, aiming to contribute sustainably to the local economy while adhering to high environmental and social standards. Clovis Torres, the company's CEO, expressed his gratitude towards local communities and authorities for their ongoing support, stating that this milestone marks a positive evolution following the challenging years since the License's suspension.
As the appeal process continues, with opportunities for responses from involved parties, Belo Sun remains optimistic about the project's future, highlighting the potential for long-term benefits for local residents. The company continues to prioritize compliance with best practices in the mining industry while working towards economic development in the region.
MWN-AI** Analysis
Belo Sun Mining Corp. (TSX: BSX, OTCQB: BSXGF) has recently celebrated a significant milestone with the reinstatement of the Installation License for the Volta Grande Gold Project in Brazil. This development comes after a lengthy legal battle initiated following the suspension of the license in 2017. The Federal Regional Court’s decision to recognize the company’s compliance with necessary legal requirements signals a crucial turning point for Belo Sun, enabling it to restart construction activities.
From a market perspective, this reinstatement could positively impact Belo Sun’s share prices. Investors often view regulatory approval favorably, particularly in the mining sector, where legal hurdles can lead to substantial project delays and increased costs. The judgment reaffirms the company’s commitment to environmental and social governance, which aligns with growing investor interest in sustainable mining practices.
However, it is essential to remain cautious. While the court's ruling restores the license, the appeal process is not fully resolved with additional responses from opponents expected. The potential for further legal challenges or regulatory complications could impact the viability and timeline of the project. Additionally, the performance of gold prices remains a key factor affecting the company's financial outlook, and recent volatility in the commodities market could pose further risks.
Investors may want to watch Belo Sun closely over the next few months as it navigates these complexities. It would be prudent to assess the company’s upcoming communications for updates on community engagement and the status of any ongoing appeals. For those looking to invest, considering a diversified approach rather than a concentrated position in Belo Sun could mitigate potential risks associated with ongoing legal uncertainties. Future developments will be telling in determining the project’s long-term success and value creation for shareholders.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
TORONTO, Feb. 14, 2026 (GLOBE NEWSWIRE) -- Belo Sun Mining Corp. (“Belo Sun” or the “Company”) (TSX: BSX, OTCQB: BSXGF) is pleased to announce that the Federal Regional Court has accepted our appeal to reinstate the Installation License, which was suspended in 2017 for the Company’s Volta Grande Gold Project (the “Project”) located in Pará State, Brazil.
Background
As previously disclosed, the Federal Court of Altamira had recently maintained the suspension of the Installation License, in force since 2017. The Company adopted appropriate legal measures to challenge that decision.
Court of Appeal Decision
On February 13, 2026, Desembargador Federal Flávio Jardim of TRF-1’s 6th Panel granted interim relief, suspending the lower court decision and fully restoring the effectiveness of the Installation License. The ruling authorizes Belo Sun to resume and continue regular installation activities for the Project.
In his ruling, the Court found that the Company had fully complied with the conditions previously imposed by TRF-1, including that: (i) the Indigenous Component Study (“ECI”) had been prepared based on primary data, as required; (ii) prior, free and informed consultation had been conducted in accordance with the Juruna Protocol, with adequate information, internal deliberation and culturally appropriate participation; and (iii) the Juruna (Yudjá) and Arara of the Volta Grande do Xingu communities had participated in all stages of the consultation process, with formal statements of support. The Court found the consultation had been carried out in good faith, in a participatory and transparent manner, consistent with International Labour Organization Convention No. 169.
The Court further held that FUNAI’s subsequent reversal of its earlier position, which had confirmed the sufficiency of the ECI and the regularity of the consultation process, was not supported by any formal administrative procedure as required under applicable regulations. The ruling determined that any new requirements by FUNAI, including any request to expand the scope of the consultation, must be preceded by a formal administrative process with proper technical justification.
Construction Activities
As a result of the ruling, the Installation License is now fully effective and the Company is authorized to proceed with construction and installation activities for the Project.
Next Steps
The respondents to the appeal have been given the opportunity to file a response, and the interlocutory appeal will proceed to review by the 6th Panel of TRF-1. The Company will provide further updates as appropriate.
Clovis Torres, Chairman and Chief Executive Officer of Belo Sun commented: "We welcome this major milestone, which is all the more meaningful given that the project’s suspension in 2017 marked a challenging period for our team and shareholders. Today, we would like to congratulate everyone whose determination and professionalism have made this new phase possible.
We also wish to express our sincere gratitude for the steadfast support we have received over the years from the local communities and Federal, State and Municipal authorities. Their trust and engagement have been essential throughout this journey.
This project will be developed in accordance with best international mining practices to protect the environment, while also applying the highest social standards. Our ambition is clear: to contribute sustainably to the economic development of the region by creating tangible opportunities for local residents and generating long-term positive results.”
About the Company
Belo Sun Mining Corp. is a mineral exploration and development company with gold-focused properties in Brazil. Belo Sun’s primary focus is advancing and expanding its 100% owned Volta Grande Gold Project in Pará State, Brazil. Belo Sun trades on the TSX under the symbol “BSX” and on the OTCQB under the symbol “BSXGF.” For more information about Belo Sun, please visit www.belosun.com.
For inquiries, please contact Belo Sun Mining Corp, +1 (416) 861-2262 or info@belosun.com.
Caution regarding forward-looking information:
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the reinstatement and continued effectiveness of the Installation License; the continuation of installation and construction activities for the Project; the outcome of the review by the 6th Panel of TRF-1; and the advancement of the Volta Grande Project. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including, without limitation, risks related to the outcome of the 6th Panel review and the possibility that the interim relief may be reversed; risks related to further legal challenges or regulatory proceedings; risks inherent in the mining industry and risks described in the public disclosure of the Company which is available under the profile of the Company on SEDAR+ at www.sedarplus.ca and on the Company's website at www.belosun.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
FAQ**
How does the reinstatement of the Installation License for Belo Sun Mining Corp (TSX: BSX, OTCQB: BSXGF) impact the timeline and potential profitability of the Volta Grande Gold Project in Brazil?
What are the major risks currently associated with Belo Sun Mining Corp (BSXGF) following the recent court ruling, particularly in regards to ongoing legal challenges and regulatory requirements?
How does the community engagement process conducted by Belo Sun Mining Corp (TSX: BSX, OTCQB: BSXGF) align with best practices for mining projects, and what role does it play in mitigating potential opposition?
What are the expected economic benefits for local residents from the development of the Volta Grande Gold Project by Belo Sun Mining Corp (BSXGF), and how does the company plan to ensure these benefits are realized sustainably?
**MWN-AI FAQ is based on asking OpenAI questions about Belo Sun Mining Corp (OTC: BSXGF).
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