- Business
- Meridian Mining UK Societas engages in the acquisition, exploration, and development of mineral properties in Brazil, with a focus on gold, copper, silver, zinc, manganese, and tin deposits; its flagship Cabaçal volcanogenic massive sulphide (VMS) copper-gold-silver project in Mato Grosso features an 11km mine corridor along a 50km district-scale VMS belt hosting historical high-grade underground mines, supported by regional exploration in the Jauru and Araputanga Greenstone belts, the Espigão polymetallic project, Mirante da Serra manganese project, and Ariquemes tin project in Rondônia. The company targets mid-tier copper-gold production through open-pit development at Cabaçal, which boasts a Preliminary Economic Assessment outlining after-tax NPV(5%) of $573 million and IRR of 58.4%, with recent drilling at Santa Helena intersecting 75.6m at 4.6g/t gold equivalent including 3.0g/t gold, 1.0% copper, 30.2g/t silver, and 2.5% zinc, alongside multiple high-grade copper-gold-silver layers such as 38.2m at 3.2g/t gold equivalent. Founded in 2013 and headquartered in London, United Kingdom, Meridian operates primarily in Mato Grosso and Rondônia states; recent developments include a $10 million non-brokered private placement from a strategic European investor to accelerate timelines, engagement of Ausenco Brazil as lead engineer for the Cabaçal Definitive Feasibility Study targeting mid-2026 completion with a projected 10-year mine life, a letter of intent with Aurubis AG for offtake and processing collaboration, formal approval of the Cabaçal Preliminary Environmental Licence by CONSEMA, expanded metallurgical testing and infill drilling programs, and the appointment of David Halkyard as Interim Chief Financial Officer.