MORRO DO FERRO GRANTED MINAS GERAIS PRIORITY PROJECT STATUS

Key points

• Power Minerals signed an agreement with Minas Gerais for priority project status
• Morro do Ferro will receive coordinated support from state agencies
• Project aims to advance exploration, studies, and future licensing
• Agreement does not grant licenses or tax exemptions
• Focus remains on completing drilling and metallurgical test work

Full summary

Power Minerals Limited has executed an agreement with the Government of Minas Gerais, granting priority-project status to its Morro do Ferro Rare Earth Project. This status will facilitate coordinated support from state economic-development and environmental agencies, expediting the licensing process. The agreement does not grant preliminary, installation, or operation licenses, which will still follow the standard three-stage environmental process. Power Minerals will continue its exploration and metallurgical test work, aiming for a maiden JORC Mineral Resource Estimate.