- Business
- Colossus Minerals Inc. Colossus Minerals Inc. (COLUF) is a Canada-based development-stage mining company focused on the exploration, acquisition, and development of mineral properties, primarily gold, platinum group metals including platinum and palladium, and associated minerals. The company holds a 75% joint venture interest in the Serra Pelada project, a high-grade gold-platinum-palladium deposit covering approximately 100 hectares in the State of Pará, Brazil, within the mineral-rich Carajás region; operations encompass underground mining, prospecting, extraction, and dewatering activities historically supported by life-of-mine premium payments to partner COOMIGASP per kilogram of precious metal produced. Founded in 2006 and headquartered in Toronto, Canada, Colossus Minerals Inc. conducts its activities through Brazilian subsidiaries Colossus Mineração Ltda. and Mineração Fazenda Monte Belo Ltda., targeting production from Serra Pelada, which has been on care and maintenance since 2014 following insolvency and liquidity challenges after over C$280 million in development expenditures. Recent developments include an exclusivity, share option, and acquisition agreement signed March 3, 2025, with Helius Minerals Limited (TSXV: HHH), granting Helius a 12-month option to acquire the company's Brazilian subsidiaries and 75% beneficial interest in Serra Pelada for redevelopment; this was amended October 22, 2025, to extend timelines, defer warrant issuances, add creditor and regulatory approvals for debt and rehabilitation plans, and facilitate stakeholder engagement with Brazilian authorities including the Ministry of Mines and COOMIGASP.