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Brazil

Serra Grande Mine

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Summary

Mine TypeOpen Pit & Underground
StatusActive
Commodities
  • Gold
Mining Method
  • Truck & Shovel / Loader
  • Sub-level stoping
  • Room-and-pillar
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Mine Life... Lock
SnapshotSerra Grande comprises three mechanised underground mines, Mina III, Mina Nova and Mina Palmeiras, and an open pit as well as a dedicated metallurgical plant.

During 2024, under the Full Asset Potential programme, two key projects focused on increasing operational flexibility - the ‘remaining ounces’ initiative revisited areas of opportunity in the mine that had not been planned for 2024, contributing 13,000 ounces to production for the year, while the Open Pit Mina III project contributed 6,000 ounces. In line with the site strategy, these projects prioritised development, which increased by 17 percent year-on-year and focused on exploration in shallower mining areas that helped expand Mineral Resources and future mine flexibility.

Serra Grande operates a single TSF, to support the LOM production. Serra Grande mine has ceased hydraulic deposition at the TSF and migrated to dry-stacking operations.

Owners

SourceSource
CompanyInterestOwnership
AngloGold Ashanti plc. 100 % Indirect
Mineracao Serra Grande S.A. (operator) 100 % Direct
The Serra Grande mine is owned and operated by Mineracao Serra Grande S.A., a company registered in Brazil. Mineracao Serra Grande through AngloGold Ashanti Holdings plc., is wholly owned by AngloGold Ashanti plc.

Contractors

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Deposit type

  • Vein / narrow vein
  • Orogenic
  • Mesothermal

Summary:

The Serra Grande gold deposits are hosted in a typical greenstone belt sequence. The mineralisation is hosted by metasedimentary and metavolcanoclastic rocks, with quartz veins and massive or disseminated sulphides that have economic potential when controlled by geological structures. Two main deformational events control the mineralisation and have been identified in the region:

- The first, a thrusting event (D1 from west to east), developed with irregular thrust ramp geometry. This event was responsible for stacking and inverting the stratigraphic sequences.
- The second event (D2), was the thrusting of the Santa Terezinha sequence over the CrixĂ¡s Greenstone Belt, folding the rocks (F2) and generating the structural controls for gold mineralisation, generally parallel to the fold axis.

Deposit type
The Serra Grande gold deposit is an orogenic mesothermal deposit, associated with the development of shear zones that belong to the Upper Archaean CrixĂ¡s Group.

Gold mineralisation is associated with metasediments and metavolcanics from the RibeirĂ£o das Antas and Rio Vermelho Formations respectively. The CrixĂ¡s Greenstone Belt is surrounded by granitic gneiss terrains from the RibeirĂ£o das Antas and Caiamar complexes and metasedimentary rocks from the Santa Terezinha Group, which is part of the GoiĂ¡s magmatic arc.

Mineralisation style
The mine is in the CrixĂ¡s Greenstone Belt sequence, in the central portion of Brazil, and the main host rocks are metasedimentary sequences associated with metavolcanic basic rocks.

Mineralisation at Serra Grande is associated with quartz veins and massive to disseminated sulphides in metasedimentary, metavolcanoclastic and metabasalt rocks, with variable degrees of hydrothermal alteration developed over orogenic stacked thrust layers (duplexes).

Mineralisation characteristics
Geometry of the mineralised deposits is typically complex with pinch-and-swell, and folded and boudinage shapes, dipping between 10° and 35° on average, with the greatest continuity along northwest plunging structures (azimuth 290°). In some cases, or some orebodies, the dip can increase to 65° which is seen for the deeper portions of the Mina III main quartz vein.

The mineralisation is hosted in five main domains (structures): Structure II, III, IV, Palmeiras and V. The mineralisation occurs as stacked lenses, generally concentrated in the same high deformation positions (with folds and disruptions) in the structures.

Structure II is a zone of quartz veinlets within graphite-schists and metagreywacke sequences which are structurally below Structure III. Mineralisation is hosted by quartz veins with free-gold and disseminated sulphides, which is represented by the Cajueiro target.

The mineralisation at Structure III, is hosted by quartz veins that are hosted in carbonaceous schists, where gold grades of up to 8 g/t can be found. Mina III (lower zone) and IngĂ¡ are typical of this mineralisation. This structure is also associated with massive and disseminated sulphides (mainly arsenopyrite and pyrrhotite) that occur in a sequence of hydrothermally altered schists. Massive and disseminated sulphide mineralisation hosted by dolomite lenses which are structurally above the lower zone schists and quartz veins is named the upper zone.

In Structure IV, the mineralisation consists of quartz veinlets and disseminated sulphide (arsenopyrite and minor pyrrhotite) hosted in graphite schists, such as Corpo IV, and PequizĂ£o. The mineralised zones are hosted by graphite schists with massive and disseminated sulphide concentrated in fold-hinge zones. The ore shoots plunge to the north-northwest and dip between 6° and 35°.

Structure Palmeiras is associated with hydrothermal alteration of metabasalts, with sericite, chlorite, carbonate and massive sulphides (pyrrhotite and arsenopyrite).

Structure V hosts mineralisation within altered talc-schists which are structurally above structure Palmeiras. Alteration includes sericite, chlorite and carbonate, and mineralisation is hosted by quartz veins and disseminated sulphides (arsenopyrite and pyrrhotite).

Reserves

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Mining Methods

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Heavy Mobile Equipment

Fleet data has not been reported.

Comminution

Crushers and Mills

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Processing

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Commodity Production

CommodityUnits2024202320222021202020192018201720162015
Gold koz  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe123130133132132
All production numbers are expressed as metal in doré.

Operational metrics

Metrics2024202320222021202020192018201720162015
Daily processing capacity  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe
Plant annual capacity  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe1.5 Mt1.5 Mt1.5 Mt1.3 Mt1.3 Mt
Waste  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe
Ore tonnes mined  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe
Tonnes processed  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe1.3 Mt1.1 Mt1.4 Mt1.3 Mt1.3 Mt
Stripping ratio OP  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe
Total tonnes mined  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe

Production Costs

CommodityUnits20242023202220212020201920182017
Cash costs Gold USD  ....  Subscribe  ....  Subscribe
Credits (by-product) Gold USD  ....  Subscribe
Total cash costs Gold USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 707 / oz **   660 / oz **   764 / oz **  
All-in sustaining costs (sold) Gold USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 1,105 / oz **   945 / oz **   1,103 / oz **  
All-in costs Gold USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe
** Net of By-Product.

Mine Financials

Units20242023202220212020201920182017
Capital expenditures M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 34   35   38  
Sustaining costs M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 17   21   18  
Revenue M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 105   92   95  
Gross profit M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 31   26   15  
Operating Income M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe 25   21   11  
EBIT M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 26   21   12  
EBITDA M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 45   46   41  

Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required May 20, 2025
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Workforce

EmployeesContractorsTotal WorkforceYear
...... Subscription required ...... Subscription required ...... Subscription required 2024
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...... Subscription required ...... Subscription required ...... Subscription required 2019
...... Subscription required ...... Subscription required ...... Subscription required 2018
...... Subscription required ...... Subscription required ...... Subscription required 2017
...... Subscription required ...... Subscription required ...... Subscription required 2016
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Aerial view:

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