Monte do Carmo gold project, Brazil – update

Image of gold nugget and dust

2nd June 2023

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor


Font size: - +

Name of the Project
Monte do Carmo gold project.

Tocantins State, Brazil.

Project Owner/s
Cerrado Gold.

Project Description
The Monte do Carmo property comprises 14 exploftocration permits totalling 67 785 ha. Cerrado’s primary target at the proposed mine is the Serra Alta deposit – a high-grade, shallow mineralisation with an open pittable mineral resource.

Monte do Carmo is expected to have average gold production of 149 000 oz over the first five years of production and 131 000 oz over the project’s eight-year mine life.

The mine design is based on standard openpit mining techniques of drill, blast and haul using contract mining to reduce upfront capital needs.

Gold will be recovered by concentration and tailings flotation, followed by the carbon-in-pulp leaching of float concentrate.  

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an after-tax net present value, at a 5% discount rate of, $617-million and an internal rate of return of 94.8%, with a payback of 1.3 years.

Capital Expenditure
Initial capital is estimated at $126-million.

Planned Start/End Date
Not stated.

Latest Developments
Cerrado Gold has received the first licence in a three-stage licence process to bring its Monte Do Carmo project into production.

The preliminary licence  was received from the State environmental regulatory authority, the Instituto Natureza do Tocantins (Naturatins).

The mine permitting process in Tocantins has three stages: the preliminary licence, the installation licence and the licence to operate.

The granting of the preliminary licence is an important milestone in the licensing process, as it outlines all the basic parameters of the project to be accepted by all parties, including the local community and relevant regulatory bodies.

The subsequent installation licence allows for the start of construction activities on the project, and the company expects to receive it within the next three to four months.

The licence to operate  is granted upon completion of construction and at the start of operations.

Key Contracts, Suppliers and Consultants
GE21 (mine plan).

Contact Details for Project Information
Cerrado Gold director corporate development Nicholas Campbell tel +1 905 630 0148 or email

Edited by Creamer Media Reporter



Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

Universal Storage Systems (SA)
Universal Storage Systems (SA)

South African leader in Steel -Racking, -Shelving, and -Mezzanine flooring. Universal has innovated an approach which encompasses conceptualising,...


Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (24/05/2024)
24th May 2024 By: Martin Creamer
Magazine round up | 24 May 2024
Magazine round up | 24 May 2024
24th May 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?







sq:0.171 0.226s - 93pq - 2rq
1: United States
Subscribe Now
2: United States