Consolidated copper production is expected to grow over the next three years, reaching between 80,000 and 90,000 tonnes by 2028. At the Caraiba Operations, plant debottlenecking completed in 2025 is expected to support higher sustained throughput levels going forward, accommodating increased ore tonnage from the Surubim Mine in 2026 and from the Pilar Mine’s Deepening Extension Zone beginning in 2027. Copper production at the Tucuma Operation is expected to remain relatively steady through 2028, reflecting higher throughput levels, lower planned grades, and an improved stockpile management framework that is expected to reduce rehandle costs over the outlook period. Xavantina’s mining and processing operations are projected to deliver higher sustained production of between 50,000 and 60,000 ounces in 2027 and 2028, driven by the transition to mechanized mining and further utilization of excess plant capacity. The Company also expects sales of gold concentrates to continue through mid-2027.
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