Meridian's Cabaçal Project Will Extract $303 Million in Gold, Silver, and Copper from the Soil in Mato Grosso

Meridian’s Cabaçal Project Will Extract $303 Million in Gold, Silver, and Copper from the Soil in Mato Grosso

Written by Bruno Teles

Published on 03/04/2025 at 11:18

Projeto Cabaçal da Meridian terá investimento de US$ 303 milhões para extrair ouro, prata e cobre no Mato Grosso. Operação começa em 2026 com retorno acelerado.

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The Cabacal Project, by mineradora Meridian, will begin operating in 2026 with an open-pit mine and processing plant. There are 41 million tons in reserves, with a lifetime of 10 years and an ultra-quick return.

You can note: the Cabacal Project promises to be one of the big names in mining in the coming years — and all this in the heart of Mato Grosso. Canadian Meridian Mining will invest US$ 303.6 million (that’s right, over R$ 1.5 billion) to extract gold, silver, and copper from an open-pit mine.

The project already has the Pre-Feasibility Study (PFS) ready, has a start date to begin operating (2026!) and aims for heavy production with such a quick financial return that it’s startling: less than 1.5 years to recover the investment.

What Is On The Ground Of Cabacal?

A treasure, literally. According to the PFS released by Meridian:

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Open-Pit Mine: Excavator, Sweat, and Millions

The Cabacal Project will use the traditional open-pit mining method, with a pre-stripping period of 9 months before the plant is operational. The maximum mining rate will be 14.8 million tons per year, combining ore and waste rock. That’s enough volume to fill a football stadium with ore — multiple times.

The Size of The Bet (And The Return)

Phase 1 of the project will consume US$ 247.9 million. Phase 2, an additional US$ 55.7 million. All of this based on realistic prices:

Gold: US$ 2,119/ounce
Silver: US$ 26.89/ounce
Copper: US$ 4.16/pound

With that, the estimated return is almost absurd: US$ 984 million in NPV, with a payback of 1.4 years. In other words, the Cabacal Project could start generating profit even before it celebrates its anniversary.

Impact In Mato Grosso: Boosted Economy

In addition to mineral exploration, the project is expected to inject new life into the region:

Direct and indirect jobs during construction and operation.
Local infrastructure with more roads, transport, and logistics.
Tax revenue for the state and nearby municipalities.

And according to Meridian, everything will be done with environmental and social responsibility — something that the mining sector needs to demonstrate more often, by the way.

Meridian’s Cabaçal Project Will Extract $303 Million in Gold, Silver, and Copper from the Soil in Mato Grosso

The Cabacal Project, by mineradora Meridian, will begin operating in 2026 with an open-pit mine and processing plant. There are 41 million tons in reserves, with a lifetime of 10 years and an ultra-quick return.

What Is On The Ground Of Cabacal?

Open-Pit Mine: Excavator, Sweat, and Millions

The Size of The Bet (And The Return)

Impact In Mato Grosso: Boosted Economy

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Meridian’s Cabaçal Project Will Extract $303 Million in Gold, Silver, and Copper from the Soil in Mato Grosso

The Cabacal Project, by mineradora Meridian, will begin operating in 2026 with an open-pit mine and processing plant. There are 41 million tons in reserves, with a lifetime of 10 years and an ultra-quick return.

What Is On The Ground Of Cabacal?

Open-Pit Mine: Excavator, Sweat, and Millions

The Size of The Bet (And The Return)

Impact In Mato Grosso: Boosted Economy

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