Mineração Vale Verde and Appian Capital Advisory announced on Tuesday the first blast at the Serrote copper-gold project in Alagoas, Brazil.
According to Appian, the pre-stripping program has now handled over one million tonnes of material. Construction and engineering works are progressing to plan, with start-up expected in H2 2021.
Based on definitive feasibility study (“DFS”), Serrote will require $250 million in capital for a conventional, low-strip open-pit operation targeted to produce 20,000 tonnes of copper equivalent per year over 14 years.
“Serrote continues to demonstrate robust economics with potential upside, and we are seeing strong interest from offtake and financing partners,” said Paulo Castellari, CEO, Vale Verde & Appian Brazil.