December 6, 2017 / 4:00 PM / a year ago

BUZZ-Belo Sun Mining: Brazil upholds suspension against Volta Grande project

** Canadian miner’s shares down 22 pct at C$0.36, lowest since March 2016

** BSX says Federal Court of Appeals in Brasilia has decided to uphold the suspension of the construction license at Volta Grande gold mine

** In April the Brazilian Federal Regional Court suspended the license as Funai (Indigenous Affairs Agency of Brazil) had not approved the indigenous studies done by BSX

** Company says it intends to continue negotiations with Funai to complete an indigenous study that complies with the agency’s protocols

** Up to Tuesday’s close, stock had fallen 32 pct this year (Reporting by Karan Nagarkatti in Bengaluru)

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