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Brazil

Santa Luz C1 UG Expansion Project

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Categories

Summary

Mine TypeUnderground
Study CompletedPreliminary Economic Assessment
Commodities
  • Gold
Mining Method
  • Longhole stoping
  • Blast Hole Stoping
Backfill type ... Lock
Mine Life... Lock
SnapshotThe Santa Luz C1 Underground resources are a proximal down-dip extension of the Mineral Resource exploited by the C1 open pit.

The Santa Luz C1 Underground project could be operated concurrently with the existing open pit mine. Should a decision be made to develop the C1 Underground, the construction of the main decline is expected to take approximately two years.

Owners

SourceSource
CompanyInterestOwnership
CMOC Group Ltd. 100 % Indirect
Since early 2025, the Santa Luz operation, together with the Fazenda operation, have been consolidated into the 'Bahia Complex'.

On December 15, 2025, CMOC Group Ltd. announced the acquisition of 100% equity interests in the Bahia Complex from Equinox Gold Corp. The acquisition was completed on 23 January 2026.

Santa Luz Desenvolvimento Mineral Ltda, formerly a wholly-owned subsidiary of Equinox, holds a 100% interest in and operates the Santa Luz mine.

Contractors

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Deposit type

  • Orogenic

Summary:

Host rocks to the underground Mineral Resource include carbonaceous metasedimentary rocks, dioritic and dacitic intrusive rocks, and metavolcanic rocks. The majority portion of the underground resource is classified as carbonaceous breccia. The mineralization style is quartz-carbonate-sulfide veins and breccia fillings hosted in a major, district-scale shear zone, typical of orogenic gold deposits.

The shear zone is north to northeast trending and dips moderately to the west. In the underground resource area, the shear zone is overlain by a dioritic intrusive mass and underlain by andesitic metavolcanics rocks. The shear zone and mineralization range in thickness from several metres to over twenty metres. The planned stopesfor the C1 Underground are generally located in areas where the shear zone is thickest and contains the highest gold grades.

Reserves

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Mining Methods

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Required Heavy Mobile Equipment

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Comminution

Crushers and Mills

Milling equipment has not been reported.

Processing

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Commodity Production

CommodityUnitsLOM
Gold koz 511
All production numbers are expressed as metal in doré.

Operational metrics

Metrics
Daily ore mining rate  ....  Subscribe
Daily processing rate  ....  Subscribe
Annual processing rate  ....  Subscribe
Stripping ratio  ....  Subscribe
Waste tonnes, LOM  ....  Subscribe
Ore tonnes mined, LOM  ....  Subscribe
Total tonnes mined, LOM  ....  Subscribe
Tonnes milled, LOM  ....  Subscribe
* According to 2020 study.

Production Costs

CommodityUnitsAverage
All-in sustaining costs (AISC) Gold USD  ....  Subscribe
All-in costs Gold USD  ....  Subscribe
Assumed price Gold USD  ....  Subscribe
* According to 2020 study / presentation.

Operating Costs

CurrencyAverage
UG mining costs ($/t milled) USD  ....  Subscribe
Processing costs ($/t milled) USD  ....  Subscribe
G&A ($/t milled) USD  ....  Subscribe
Total operating costs ($/t milled) USD  ....  Subscribe
* According to 2020 study.

Project Costs

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscribe
Sustaining CapEx $M USD  ......  Subscribe
Closure costs $M USD  ......  Subscribe
Total CapEx $M USD  ......  Subscribe
UG OpEx $M USD  ......  Subscribe
Processing OpEx $M USD 108.7
Backfill costs $M USD  ......  Subscribe
G&A costs $M USD 23.5
Total OpEx $M USD  ......  Subscribe
Royalty payments $M USD  ......  Subscribe
Gross revenue (LOM) $M USD  ......  Subscribe
Net revenue (LOM) $M USD  ......  Subscribe
Pre-tax Cash Flow (LOM) $M USD  ......  Subscribe
Pre-tax NPV @ 5% $M USD  ......  Subscribe
Pre-tax NPV @ 10% $M USD  ......  Subscribe
Pre-tax NPV @ 15% $M USD  ......  Subscribe
After-tax NPV @ 5% $M USD  ......  Subscribe
After-tax IRR, %  ......  Subscribe

Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Jun 30, 2020
....................... Subscription required ....................... Subscription required Subscription required Apr 9, 2026
....................... Subscription required ....................... Subscription required Subscription required Apr 9, 2026

Workforce

Aerial view:

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