Mara Rosa

Operator: Hochschild Mining plc

Location: Goiás, Brazil

Royalty: 1.0% NSR and 1.75% NSR (all metals)

Term of Royalty: Life of Mine

Mara Rosa, also referred to as the Posse Deposit, is an open-pit development project encompassing a land area of 2,552 hectares across three mining concessions plus numerous exploration leases in the areas surrounding the mine area. Mara Rosa is owned by Amarillo Mineração Do Brasil Ltda, a subsidiary of Hochschild Mining plc., and is located in the State of Goiás, central Brazil, approximately 6 kilometers north of the town of Mara Rosa.

The Mara Rosa project is based on a mining concept that uses conventional drill, blast, load and haul techniques for all mining areas and rock types. The mine schedule targets production of 2.5 million tonnes per annum (Mtpa) with a maximum annual rock movement of 20.0 Mtpa. The project plan considers a variable cut-off grade strategy to mine higher grades initially while leaving the lower grades for the end of the mining sequence. The life of mine sequence encompasses a 15 month pre-stripping phase followed by 7.9 years of primary mining and, finally, 1.7 years of re-handling low grade ore.

An updated Pre-Feasibility Study for Mara Rosa was completed in September 2018 and a Definitive Feasibility Study was completed in June 2020.