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Brazil
Serrote Mine

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 Location:
6 km SE from Craibas, Brazil

  Address:
AL-486, s/n, Km 4 – Sítio Lagoa do Mel
Craíbas
Brazil
57320-000
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StageProduction
Mine TypeOpen Pit
Commodities
  • Copper
  • Gold
Mining Method
  • Truck & Shovel / Loader
Production Start...
Mine Life2028
Serrote mine is clearly delineated and expandable shallow copper reserve situated in a mining-supportive region. Accessible with ease to three well-equipped ports boasting excellent infrastructure. The project achieved a secure and conscientious completion of construction ahead of schedule, under budget, and in adherence to rigorous safety standards. It successfully attained a smooth ramp-up to exceed +100% capacity by September 2022. Serrote maintains a robust cost structure, capitalizing on strong underlying fundamentals and a highly efficient operational model. Anticipated annual copper concentrate production stands at approximately 19-20 thousand metric tonnes.


Owners

Source: p. 52
CompanyInterestOwnership
Appian Capital Advisory LLP Indirect
Mineração Vale Verde Ltda. (operator) 100 % Direct
The Serrote Mine is owned by Mineração Vale Verde Ltda. (MVV), a wholly indirectly-owned subsidiary of Serrote Participações S.A., which is controlled by Appian Capital Advisory LLC (Appian Capital).

Contractors

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Deposit Type

  • Intrusion related
  • Magmatic


Summary:

The Serrote deposit and Caboclo exploration target are examples of mafic–ultramafic magmatic copper sulphide deposits. Shallow mineralisation over 2km strike.

The Serrote deposit and Caboclo prospect are within the Sergipano fold belt, which consists of five separate domains of metavolcanic and metasedimentary rocks deposited around Archean/Paleoproterozoic basement gneiss in the south and partially migmatized paragneisses, metasedimentary rocks, and granitoids. The Rio Coruripe domain includes the Jaramataia Group, a rift-related volcano-sedimentary sequence consisting of quartz-feldspathic (pink gneiss) and garnet– biotite gneisses (garnet gneiss), marbles, calcsilicate rocks, iron formation, and mafic– ultramafic layered intrusive rocks of the Serrote da Laje suite. The Serrote da Laje suite is a tectonically disrupted layered intrusion comprising hypersthenite, norite, gabbronorite, gabbro and anorthosite. Magnetitite bodies are associated with hypersthenite and norite. The intrusion is typically concordant with the host paragneiss. The mafic–ultramafic units are locally intruded by granite and granitic pegmatite dikes. Metamorphism reached granulite facies, with some areas of retrograde metamorphism at amphibolite facies.

Mineralisation at Serrote consists of multiple, stacked pancake-like layers with approximate dimensions of 2 km north–south, 1 km east–west, 5 m to 250 m thick, and a maximum depth of mineralisation of 200 m. Pink and garnet gneiss ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

Mining operations are conducted year-round. The Serrote Mine has been developed as a conventional open pit operation using conventional equipment. The Serrote pit will be developed in five phases. The current mine plan was prepared using a peak mine production rate of 12.7 million tonnes per annum (Mt/a) and a mine operating life of 12 years. Ore is delivered to the crusher pad adjacent to the process plant at an average rate of 11,390 tonnes per day (t/d) or 4.1 Mt/a.

Mining is carried out by a contractor that supplies its own fleet of mining equipment up to the end of 2024; from 2025 onwards, MVV will own and operate a new fleet. The equipment type and size selection were carried out by MVV, and both the contractor and MVV fleets will be of compatible sizes.

Mining activities will generate four types of overburden/waste materials: topsoil, saprolite (overburden), transitional weathered rock, and waste rock. There will be one waste rock storage facility (WRSF), an oxide material stockpile, and a temporary sulphide ore stockpile.

The final pit will have a top elevation of 325 masl and a pit bottom elevation of 75 masl, a total depth of 250 m.

The pit slope recommendations were based on 10–20 m bench heights, 6.5–8.5 m berm widths, 15 m safety benches, and 30–300 m inter-ramp heights, and resulted in recommended bench slope angles that ranged from 45–80º, and inter-ramp angles that ranged from 31–55º.

The Serrote pit will ........


Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

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Production:

CommodityProductUnits202320222021
Copper Concentrate kt  ......  Subscription required ^  ......  Subscription required  ......  Subscription required
Copper Equivalent Payable metal kt  ......  Subscription required  ......  Subscription required
^ Guidance / Forecast.

Operational Metrics:

Metrics202320222021
Stripping / waste ratio  ......  Subscription required  ......  Subscription required
Ore tonnes mined  ......  Subscription required  ......  Subscription required
Waste  ......  Subscription required  ......  Subscription required
Total tonnes mined  ......  Subscription required  ......  Subscription required  ......  Subscription required
Tonnes processed  ......  Subscription required  ......  Subscription required  ......  Subscription required
Daily mining rate  ......  Subscription required  ......  Subscription required  ......  Subscription required
Daily processing capacity  ......  Subscription required  ......  Subscription required  ......  Subscription required
^ Guidance / Forecast.
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Reserves at December 31, 2022:
The Mineral Reserve estimates were carried out using an NSR cut-off value of US$11.85/t

Mineral Resources are estimated at a 0.15% Cu cut-off grade.

CategoryTonnage CommodityGradeContained Metal
Proven 41.17 Mt Copper 0.59 % 243.8 kt
Proven 41.17 Mt Gold 0.1 g/t 134.9 koz
Probable 5.56 Mt Copper 0.54 % 29.9 kt
Probable 5.56 Mt Gold 0.08 g/t 13.8 koz
Proven & Probable 46.73 Mt Copper 0.58 % 299 kt
Proven & Probable 46.73 Mt Gold 0.1 g/t 148.6 koz
Measured & Indicated 96.67 Mt Copper 0.54 % 521 kt
Measured & Indicated 96.67 Mt Gold 0.1 g/t 299 koz
Inferred 4.9 Mt Copper 0.52 % 25 kt
Inferred 4.9 Mt Gold 0.07 g/t 12 koz

Commodity Production Costs:

CommodityUnits20222021
C1 cash costs Copper Equivalent USD  ......  Subscription required  ......  Subscription required
† Net of By-Product.
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Financials:

Units20222021
Revenue M USD  ......  Subscription required  ......  Subscription required
EBITDA M USD  ......  Subscription required  ......  Subscription required
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Pipelines and Water Supply
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Heavy Mobile Equipment as of December 31, 2022:
HME TypeModelSizeQuantityLeased or
Contractor
Backhoe loader ....................... Subscription required 75 t ....................... Subscription required Leased
Backhoe loader ....................... Subscription required 60 t ....................... Subscription required Leased
Dozer (crawler) ....................... Subscription required 30 t ....................... Subscription required Leased
Dozer (crawler) ....................... Subscription required 21 t ....................... Subscription required Leased
Drill (blasthole) ....................... Subscription required 5.5 inch ....................... Subscription required Leased
Excavator ....................... Subscription required 20 t ....................... Subscription required Leased
Grader ....................... Subscription required 16 t ....................... Subscription required Leased
Loader (FEL) ....................... Subscription required 23 t ....................... Subscription required Leased
Truck (fuel / lube) ....................... Subscription required 6000 l ....................... Subscription required Leased
Truck (haul) ....................... Subscription required 35 t ....................... Subscription required Leased
Truck (water) ....................... Subscription required 20000 l ....................... Subscription required Leased
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Oct 6, 2023
....................... Subscription required ....................... Subscription required Subscription required Oct 6, 2023
....................... Subscription required ....................... Subscription required Subscription required Oct 6, 2023
....................... Subscription required ....................... Subscription required Subscription required Oct 6, 2023
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Staff:

EmployeesContractorsTotal WorkforceYear
Subscription required Subscription required Subscription required 2022

Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2023
Corporate Presentation 2023
Press Release 2023
Technical Report 2022
................................... Subscription required 2021
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