Aguia Resources has bolstered its executive leadership, appointing Tim Hosking as its new Managing Director to guide the company through a pivotal production phase for its key South American assets.
New Leadership for Critical Production Phase
The appointment solidifies Hosking's role after his recent promotion to Chief Executive Officer in November last year. He steps into the top job as the multi-commodity miner prepares for first production at its flagship Tres Estradas phosphate operation in Brazil's Rio Grande do Sul state, scheduled for the current quarter.
Hosking is no stranger to Aguia's operations, having joined as Brazil Country Manager in early 2024. He has been instrumental in advancing the Rio Grande do Sul phosphate projects, which are on track to begin production in 2026.
Momentum Builds Across South American Projects
Progress at the Brazilian phosphate ventures has accelerated significantly. Aguia has secured a long-term lease for its Pampafos fertiliser product and obtained funding from a Brazilian development bank. Mine planning at the Tres Estradas deposit has been refined, and the company has locked in multiple offtake agreements across Latin America.
Recent field trials have bolstered the product's credentials, with Pampafos yielding more than 8 tonnes per hectare of dry matter in ryegrass at low application rates. This performance confirms its suitability for the agriculture-dependent regions of southern Brazil.
Simultaneously, the company is advancing its Santa Barbara gold project in Colombia's Serranía de San Lucas gold belt. A cost-effective, slimmed-down production team is being directed by Hosking, who will retain oversight of the Brazilian phosphate operations from his new position.
Dual-Commodity Strategy Targets Profitability
Aguia is entering a crucial period at Tres Estradas, with processing and initial Pampafos sales expected by mid-year. The company aims to scale annual output to over 160,000 tonnes by 2027, supported by seven letters of intent for 54,000 tonnes from buyers in Rio Grande do Sul and Uruguay.
Innovative product marketing continues, with trials showing that blending low-grade ore and compost cuts bio-stabilisation time by 60 per cent, allowing access to premium fertiliser markets. The company forecasts operating costs at A$65 per tonne, potentially delivering an annual gross profit margin of A$21.6 million at current prices.
At Santa Barbara, a high-grade mesothermal vein system is primed for underground mining. A 30-tonne per day pilot plant is being prepared to process ore averaging 24 grams per tonne gold, with plans to increase capacity to 50 tonnes per day by mid-2025. Drilling results from 2500 metres have confirmed continuity in the mineralised systems.
With a substantial phosphate resource exceeding 108 million tonnes across two sites and its Colombian gold holdings, Aguia is firmly committed to its dual-commodity strategy. Experienced Chairman Warwick Grigor will continue to oversee corporate strategy as Hosking leads the operational charge into this new development stage.
"I am delighted to be joining the Board and helping realise the full value from our asset portfolio which in my view have huge upside," said Tim Hosking, Aguia Resources' new Managing Director and CEO.
