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Belo Sun’s (BSX.to) illegal land grab is finally coming to light

Way back and I mean waaaay back in August 2019 (with a few updates along the way since then), this humble corner of cyberspace explained how naughty Belo Sun (BSX.to) had been around its Volta Grande project in Brazil. In the post, we went into detail to explain how BSX had knowingly bought land from a few people who didn’t own it and then pretended it was their property (instead of its true owners, the wider community around the project that hate them and want them out). We also explained who INCRA was and why that government body was central to the BSX lies, deception and illegal land grab. Here’s how that post ended:

Don’t take my word for it, contact BSX and find out for yourself. Ask them about surface rights, land ownership and just how much of their project sits on INCRA land. Ask them why they paid locals all that money for surface rights that the locals did not own. Ask them about the legally binding nature of an MOU with INCRA. Ask them why they have been so keen on burying the truth.

Whole post here

Well folks, justice may be mind-bendingly slow in Brazil but it gets there eventually. This week the mess has begun to unravel, as witnessed by this news report out of the biggest country in the world except America but only because they cheated and bought Alaska (as Brazilians will tell you). Your translated headline:

Documents Prove Illegal Purchases of 21 Mining Settlement Lots By Canadian Mining Company

At least 21 areas were bought by Belo Sun directly from residents for prices up to R$1m; the transactions will now be investigated by the Federal Police Force

And the reason behind the new interest in this story is INCRA. Back then INCRA was not being run by cronies of the Jair Bolsonaro government, but that changed and a trick they’ve tried to pull recently has shone light on the historic corrupt activities. INCRA recently decided to quietly change its own rules regarding land ownership, with the specific intent of reversing the rights that protect the land around the Volta Grande project, thereby stripping its true owners of its rights. In short, INCRA has tried to legalize BSX’s land grab using a sneaky backdoor method and, somewhat ironically, it’s the deal struck by INCRA and BSX as announced on December 7th…

TORONTO, Dec. 07, 2021 (GLOBE NEWSWIRE) — Belo Sun Mining Corp. (“Belo Sun” or the “Company”) (TSX: BSX OTCQX:BSXGF) is pleased to announce that it has successfully concluded discussions with Instituto Nacional de Colonização e Reforma Agrária – National Institute of Colonization and Agrarian Reform (“INCRA”) on the land overlap at its Volta Grande Gold Project and has signed a definitive agreement for the use of the land during the mining operations of the Volta Grande Gold Project.

Peter Tagliamonte, President, CEO and Director of Belo Sun commented, “We are pleased to have successfully concluded discussions with INCRA and we look forward to a positive and ongoing relationship with INCRA that will bring benefits to the surrounding communities, local farmers, landholders and municipality. We feel that the Volta Grande Gold Project represents an outstanding opportunity that will benefit the region and all stakeholders as we advance the project.”

…that has set the whole issue on fire. Here’s the pushback from Brazil and the people who stop criminals from getting away with wrongdoings:

In light of the agreement between Incra and mining company Belo Sun, the Federal Public Defender’s Office (DPU) announced that it will sue the Federal Court to request the annulment of the contract, which provides for the reduction of a settlement area in Pará to make room for the extraction of gold.

“It is clear that this contract is null and void and must be canceled. We are going to ask for the suspension of this contract and its annulment. We will sue the Federal Court in Altamira,” Elisângela Machado Côrtes, regional human rights defender in Pará, told Estadão .

The DPU confirmed that the company, prior to the agreement with Incra, made the direct purchase of lots from the settlement, which is illegal. “Incra claims that the area is no longer being used for agrarian reform, but Incra itself knows that there was illegal purchase of land in the region by Belo Sun,” said Elisângela. “In practice, Incra is regularizing land grabbing.”

Maybe you think it’s sheer coincidence that INCRA’s new and cozy relationship with BSX comes right after Jair Bolsonaro installed his own people into that government agency. If you do, please contact this desk as IKN has a beautiful bridge for sale, only one owner and at competitive financing terms. As usual in Brazil this new case against BSX will run and run, so don’t expect anything from this scam in 2022 and as for those stupid enough to be long this company, they’d better hope Lula da Silva doesn’t win next year’s election. As for this desk, all this cronyism and corruption, once again centred on a shady Canadian junior miner with an extremely dubious track record that loves using pay-to-play pumpers to throw sequins in the eyes of the retail investor market, reminds us of another saying Brazilians have about their own country: “Brazil; the country of the future (and always will be).”

4 Comments

    You got me out in Oct 2020 with that Aug 2019 piece. Gracias, vato.

    Reply

    Biggest country in the world is of course Russia, as anyone who looks at a world map can see. Number two is Canada.

    https://www.worldometers.info/geography/largest-countries-in-the-world/

    Reply

      I’m still in awe of your mail that picked Great Bear and Kinross as takeover targets last month, Tweetie. However, this time you seem to have missed the joke.

      Reply

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