Aguia Eyes 55Mt Lucena Phosphate Project as Brazil Pushes Domestic Fertiliser
Key Takeaways
- Aguia is re-assessing the Lucena Phosphate Project in Paraíba, which holds a JORC Inferred Mineral Resource of 55 Mt at 6.42% P₂O₅ prepared by SRK Consulting in April 2013.
- Brazil's Federal Senate approved the Profert domestic fertiliser program on 11 August 2026, introducing local-content requirements for fertiliser blends and incentives for domestic phosphate production — pending Presidential assent.
- Aguia holds 16 licences in Paraíba, with 12 awaiting ANM approval to progress to feasibility and the remainder expected to enter a second exploration phase.
- Lucena sits 40 km south of João Pessoa with direct paved road access to Cabedelo port, lowering potential logistics hurdles for a future phosphate production hub.
- A complementary 41.4 Mt limestone resource has been defined at Lucena, with potential non-agricultural customers including nearby cement plants in one of Brazil's fastest-growing cities.
Aguia moves to re-assess its 55 Mt Lucena phosphate project in north-east Brazil
Aguia Resources is re-assessing the Lucena Phosphate Project in Paraíba while awaiting licence extensions from the National Mining Agency (ANM). The project holds a previously announced JORC Inferred Mineral Resource of 55 Mt at 6.42% P₂O₅, prepared by SRK Consulting (Canada) in April 2013. The trigger for this renewed assessment is a materially changed Brazilian fertiliser market and supportive domestic policy momentum. Lucena sits within north-east Brazil’s agricultural growth corridor, and Aguia sees the project as complementary upside to its near-term focus on Pampafos sales in Rio Grande do Sul.
Why Aguia is revisiting Lucena now
Brazil’s fertiliser market has shifted materially since Lucena was last actively assessed. Agricultural growth in north-east Brazil has accelerated, and the country’s policy framework now incentivises domestic phosphate production. On 11 August 2026, the Brazilian Federal Senate approved Profert, a program designed to support domestic fertiliser production, reduce import reliance, and introduce local-content requirements for fertiliser blends. The bill remains subject to Presidential assent. These measures may create additional incentives to advance Lucena and encourage fertiliser importers to consider strategic domestic partnerships.
Timothy Hosking, Managing Director and CEO
“We are pleased to be progressing a renewed assessment of Lucena as part of Aguia’s broader development portfolio. Our near-term focus remains on increasing Pampafos sales and strengthening our operating platform in Rio Grande do Sul. Lucena provides a complementary growth opportunity in north-east Brazil at a time when the country is seeking to expand domestic fertiliser production and reduce reliance on imports. We believe Aguia’s domestic project portfolio may be well positioned to support potential strategic interest from fertiliser importers.”
The licence position
Aguia holds 16 licences in Paraíba. Twelve are awaiting ANM approval to progress to feasibility, while the balance is expected to enter a second exploration phase. The company has completed exploration and awaits approval for a 12-month feasibility phase. With Tres Estradas now advancing, Aguia intends to re-start the administrative process to secure licence extensions.
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Inside the Lucena resource and its infrastructure edge
Lucena is located approximately 40 km south of João Pessoa, Paraíba. Aguia completed 49 diamond core holes between 2011 and 2012, defining an initial JORC Inferred Mineral Resource. The resource covers only part of a broader project area first identified by the Brazilian Geological Survey (CPRM) in the 1970s.
| Lithotype | Tonnage (Mt) | P₂O₅ (%) | CaO (%) | MgO (%) |
|---|---|---|---|---|
| MIN1 | 6.15 | 4.94 | 2.02 | 0.61 |
| MIN2 | 49.0 | 6.60 | 12.83 | 1.52 |
| Total Inferred | 55.1 | 6.42 | 11.63 | 1.42 |
Reported within a conceptual pit shell at a 3.0% P₂O₅ cut-off. Inferred only. Not mineral reserves. No demonstrated economic viability.
Infrastructure advantages
Lucena benefits from existing infrastructure that lowers potential development hurdles for a phosphate production hub:
- Road access, water, and power
- Proximity to fertiliser blenders and transport hubs
- Access to Cabedelo port facilities via 65 km of paved roads
Understanding phosphate and Brazil’s import dependence
Phosphate (P₂O₅) is a core fertiliser input essential for crop growth. Brazil imports a large share of its phosphate needs, making domestic supply strategically valuable. Direct Application Natural Phosphate (DANF) is a phosphate product that can be applied directly to soils. Solubility and agronomic testing are required to assess product viability for agricultural use.
Paraíba’s acidic soils and extensive sugarcane production may support demand for phosphate, limestone, and soil-conditioning products. The neighbouring state of Maranhão is a major soybean-producing region in north-east Brazil. Domestic phosphate supply aligns with Profert’s local-content requirements, positioning Lucena within a policy framework that prioritises domestic sourcing.
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Limestone upside and the road ahead
Aguia has defined a Mineral Resource of 41.4 Mt of limestone (dolomitic and calcitic) at Lucena, with a preliminary pit design completed. This is complementary upside, not a defined economic project. João Pessoa is described as Brazil’s fastest-growing city, with a 15% rise in new residents since 2024 and a strong construction sector supported by multinational cement producers including Lafarge. Potential non-agricultural customers include nearby cement plants. Iron oxide-rich overburden clays offer additional ceramics opportunity.
Next steps and technical workplan
Aguia’s planned work at Lucena includes:
- Re-engage with ANM to progress licence approvals and extensions
- Complete a project feasibility study
- Evaluate potential DANF production through solubility testing
- Agronomic testing to assess DANF performance in agricultural applications
- Additional infill and extensional drilling to define mineralisation limits and support a JORC Measured and Indicated Resource estimate
Lucena is a complementary growth option within Aguia’s broader Brazilian portfolio. Near-term company focus remains on Pampafos sales in Rio Grande do Sul.
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