St George Mining Limited (ASX: SGQ): Government Confirms Financial Support for World-Class Araxá Project 🇧🇷🚀
St George Mining has secured a major boost for its Araxá Niobium–Rare Earths Project in Minas Gerais, Brazil, with the State Government confirming a preferential tax regime that significantly reduces development costs.
🔹 State Tax Exemptions Approved
Under the regime, equipment and materials for both the pilot plant and full-scale operation will be exempt from state goods tax (up to 18%), directly improving project economics.
🔹 Strong Government Backing
The tax agreement was signed by Governor Romeu Zema and key state departments, reinforcing Minas Gerais’ commitment to fast-tracking Araxá’s development.
🔹 Pilot Plant & Technology Centre
A new large-scale pilot plant at CEFET’s Araxá Campus will support mineral processing and hydrometallurgical refinement, with capacity to produce ferroniobium and rare earth products including MREC and REO.
⛏️ World-Class Resource Base
40.6Mt @ 4.13% TREO
(Globally significant niobium and rare earths resource)
📊 Investor Outlook
With fiscal concessions feeding directly into feasibility studies, expedited approvals, pilot plant development, and ongoing high-grade drilling, Araxá continues to de-risk and strengthen its pathway toward production.
SGQ last traded at $0.096, with a market capitalisation of approximately $365.69M. Government-backed cost reductions and a globally significant resource position St George as a strategically aligned rare earths and niobium developer within emerging Western Hemisphere supply chains.
🔗 Read more: https://colitco.com/st-george-secure-tax-support/
