Overview

Ownership:

99.6%

Primary Commodity:

Copper

Mine Types:

Open Pit

The Tucumã Project is an Iron Oxide Copper Gold (IOCG) deposit located within the prolific Carajás Mineral Province of southeastern Pará State, Brazil.  Construction of this open pit mining and milling operation began in the second quarter of 2022, with first production on schedule to commence in the second half of 2024.

Designed to treat 4.0 million tonnes of ore annually, Tucumã’s mill will use a conventional three-stage crushing circuit and ball mill comminution process, followed by flotation.  This process is expected to yield high-quality copper concentrate, which the Company plans to sell to international traders and smelters.

With the Project approaching completion, the Company initiated the transition from construction to commissioning in early 2024 and subsequently released its updated three-year production outlook.  This outlook projects copper in concentrate production to range from 17,000 to 25,000 tonnes in 2024, with a significant increase to between 53,000 and 58,000 tonnes in 2025, marking Tucumã’s first full year of production.

More information on the Tucumã Project’s 2024 Commissioning Plan can be found in the Company’s press release dated January 16, 2024.  The Company’s three-year production outlook and 2024 C1 cash cost and capital expenditure guidance for Tucumã can be in the Company’s press release dated February 21, 2024.

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