Belo Sun Mining (TSX: BSX; OTCQX: BSXGF) said today that the Supreme Court of Pará State overturned a lower court suspension order related to Belo's licenses.
The Agrarian Court previously ordered the suspension of the construction license and environmental license until a socio-environmental study of the riverside peoples, at a minimum distance of 10 km from the Volta Grande Project, be carried out.
"The State Supreme Court overturned the suspension order issued by the Agrarian Court on the grounds that there was no evidence of damage or harm to the riverside people and that they were properly consulted as part of the environmental studies conducted by Belo Sun," wrote Belo Sun in a news release. "The State Supreme Court also ruled that the decision of the Agrarian Court causes damage to the Company and stated that there should be no obstacles for Belo Sun to continue with the environmental licensing process while complying with the legal requirements determined by the applicable environmental and judicial authorities."
Belo traded up 55% to 38 cents a share.
Belo Sun is a Canadian-based mining company with a portfolio of gold-focused properties in Brazil. The company is currently focused on the development of the Volta Grande gold project.
