Resouro Strategic Metals (ASX:RAU) has achieved a further milestone in the advancement of its Novo Mundo gold project in Brazil, successfully lodging a Mining Concession Application with the country's mining regulator.

The application covers an area of approximately 930 hectares and forms part of a trial mining operation currently conducted under the previously announced Binding Mining and Processing Agreement for Novo Mundo. The submission represents the next stage in the ANM (Agência Nacional de Mineração) licensing process, and once granted, will authorise long-term commercial mining of the area. For mineral developers, the move from trial mining to a full mining concession is a key permitting threshold because it determines whether operations can continue on a commercial, longer-duration basis under the regulator's approval.

CEO Christopher Eager described the lodgement as a pivotal regulatory step. "Lodging of the Mining Concession Application is a key regulatory step toward converting our trial mining operation at Novo Mundo into a fully licensed, long-term producing asset," he said. "It reflects the steady execution of our permitting strategy in the Alta Floresta Gold Province and moves us closer to establishing Novo Mundo as a sustainable cash generator for Resouro."

Mr Eager added that the application "further strengthens Resouro's position as a growing gold developer with a meaningful presence in the highly prospective Alta Floresta Gold Province, one of Brazil's prolific gold-producing regions."

Private Placement and Tiros Project Advances

Earlier in July 2026, Resouro Strategic announced a non-brokered private placement targeting gross proceeds of up to C$2,000,000. The company intends to use the funds to scope a pre-feasibility study (PFS), continue advancing its Tiros rare earths and titanium project in Minas Gerais, Brazil, and support general working capital needs. This follows the company's June 2026 announcement of a preliminary economic assessment (PEA) for the Tiros project. In the mining development sequence, a PFS typically follows earlier-stage economic work and is used to further define technical design, processing assumptions, capital requirements and project economics before more advanced development decisions.

"We're encouraged by the interest we've seen in our Tiros project since the announcement of our PEA last month," Mr Eager said. "This financing will allow us to build on the momentum of that announcement, by starting scoping studies for the PFS and conducting further metallurgical testwork to improve the titanium and rare earths recoveries at Tiros."

Shares in Resouro Strategic Metals closed up 1.67% at 30.5 cents, giving the company a market capitalisation of $32.37 million.