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Serote mine, Brazil

21st January 2022

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor

     

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Name
Serote mine.

Location
In Brazil’s Alagoas state.

Mine Owner/s
Sibanye-Stillwater.

Brief Description
Serrote is a low-cost copper/gold operation, with a current reserve life of 13 years and significant resource and optimisation potential.

Brief History
On October 26, 2021, Sibanye announced that it had signed definitive purchase and sale agreements with affiliates of funds advised by Appian Capital Advisory to acquire 100% of the Serote copper mine.

Construction of the Serote mine was completed in May 2021; it is in the ramp-up phase and on track to achieve commercial production in the fourth quarter of 2021.

Primary Metals/Minerals
Copper.

Secondary Metals/Minerals
Gold.

Geology/Mineralisation
Not disclosed.

Reserves
Total mineral reserves as at May 10, 2021, were estimated at 50.4-million tonnes at an average grade of 0.60% copper and 0.10 g/t gold, containing about 299 000 t of copper and 159 000 oz of gold.

Resources
Total mineral resources as at May 10, 2021, were estimated at 112.2-million tonnes at an average grade of 0.54% copper and 0.10 g/t gold containing about 609 000 t of copper and 347 000 oz of gold.

Mining Method
Openpit operation mined with conventional equipment.

Major Infrastructure and Equipment
The 4.1-million-tonne-a-year processing plant comprises crushing, grinding, floatation, thickening and filtration, producing a saleable copper concentrate.

Floatation tailings are pumped to a tailings storage facility built by downstream raises.

Prospects
Potential exists to extend the life-of-mine and ore production from the 107-million-tonne measured and indicated resources, as well as the five-million-tonnes of inferred resources.

Contact Details
Sibanye-Stillwater
Tel +27 11 278 9600
Email ir@sibanyestillwater.com

Sources
Sibanye-Stillwater. Delivering on green metals strategy: https://thevault.exchange/?get_group_doc=245/1635248727-Greenmetalspresentation-InvestorPresentation26Aug2021.pdf (accessed on November 29, 2021).
Sibanye-Stillwater. Market release: Sibanye-Stillwater to acquire the Santa Rita nickel mine and the Serrote copper mine in Brazil and a withdrawal of cautionary (October 26, 2021).
Sibanye-Stillwater. Website https://www.sibanyestillwater.com.

Edited by Creamer Media Reporter

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