{
  "id": 9193304,
  "title": "Meridian’s Cabaçal value doubles on higher prices",
  "url": "https://urgent.news/2026/09/22/meridians-cabacal-value-doubles-on-higher-prices",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-22T16:34:52.000Z",
  "source": {
    "name": "Mining.com",
    "slug": "mining-com",
    "url": "https://www.mining.com/meridians-cabacal-value-doubles-on-higher-prices/"
  },
  "original_language": "en",
  "account": "Meridian Mining's valuation of its Cabaçal gold-copper project in Brazil has more than doubled following a new feasibility study, driven by increased metal price assumptions. The updated study values Cabaçal's after-tax net present value (NPV) at $2.09 billion, with a high internal rate of return of 108% and a payback period of approximately 11 months. The study assumes a gold price of $3,570 per ounce, copper at $5.03 per pound, and silver at $50.17 per ounce.\n\nScotiabank mining analyst Eric Winmill praised the feasibility study update, stating it presents a robust project with manageable capital expenditures. The company's shares surged 18% to a record high of $2.21 apiece, valuing Meridian at $1.07 billion. The Cabaçal project is a past-producing volcanogenic massive sulphide deposit in Mato Grosso state, proposed for a staged open-pit operation that will mine for about 10 years and process for a total of 13.9 years.\n\nThe mine plan relies on 56.04 million proven and probable tonnes of ore grading 0.61 grams gold per tonne, 0.35% copper, and 1.33 grams silver. The updated estimates increase reserve tonnage by 34% compared to last year's study. The project is expected to recover 983,500 ounces of gold, 180,600 tonnes of copper, and 1.78 million ounces of silver over its life. The average annual gold-equivalent production during the first five years is forecast at 183,500 ounces, with an all-in sustaining cost of $715 per ounce.",
  "summary": "The study puts Cabaçal’s after-tax net present value at $2.09 billion and its internal rate of return at 108%.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}