The Pilar Mine is located in the southern part of the MCSA Mining Complex within the Curaçá Valley.
The Pilar (Caraíba) Mine, containing the Pilar UG Mine and the fully integrated Caraíba Mill, also inclusive of the Deepening Extension Project.
On January 11, 2022, the Company announced that within the MCSA Mining Complex, it plans to create a twomine system at the Pilar Mine (known as Pilar 3.0) whereby the upper levels of the mine, currently in operation, will be serviced by the existing shaft, while the Deepening Extension Zone will utilize a new, larger external shaft, expected to result in significant growth in total ore production from the mine, ramping from current levels of approximately 1.3 million tonnes per annum to approximately 3.0 million tonnes by 2026. Construction of the new external shaft began in the third quarter of 2021, and first production from the shaft is expected to commence in 2024. |