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Other

Meridian Mining's Cabacal Project's Preliminary Licence Approval Formalised by the State of Mato Grosso

By The Northwire Desk — AI Analysis Nov 03, 2025 · 06:31 MNO · 1.29 Meridian Mining PLC
MNO · Price

Executive Summary

  • Meridian Mining announced that the Preliminary Licence (“PL”) for its Cabaçal Au‑Cu‑Ag project has been formally gazetted in the State of Mato Grosso’s official newspaper.
  • The company also submitted a PL application for the Santa Helena Au‑Cu‑Ag‑Zn project, completing technical and environmental studies.
  • Meridian is now preparing the Installation Licence (“IL”) for Cabaçal (target H1 2026) and advancing discussions with potential project financiers to align financing with the forthcoming Final Investment Decision.

Key Details

  • Cabaçal PL Gazettement: Official publication in Mato Grosso’s gazette confirms regulatory approval of the Preliminary Licence.
  • Next Step – Installation Licence: Meridian aims to file the Cabaçal IL application in the first half of 2026.
  • Santa Helena PL Submission: Technical and environmental studies finalized; PL application now submitted to state authorities.
  • Project Financing Alignment: Ongoing correspondence with potential financiers to ensure IL timing matches financing, FID and equity considerations.
  • Qualified Person Statement: Chief Geologist Erich Marques, QP under NI 43‑101, has reviewed and approved the technical information in the release.
  • Pre‑Feasibility Study Highlights (referenced): After‑tax NPV5 of US$984 million; IRR 61.2%; pre‑production capex US$248 million; low ASCUS of US$742/oz Au‑eq; proven & probable reserves of 41.7 Mt at 0.63 g/t Au, 0.44% Cu, 1.64 g/t Ag.

Notable Quotes

  • “Following the PL's unanimous approval, it is now gazetted. A tremendous permitting milestone for the Company has been achieved.” – Gilbert Clark, CEO
  • “The submission of the Santa Helena PL represents a major advancement for our second project and further unlocks the greater Cabaçal belt exploration potential.” – Gilbert Clark, CEO
Read the original news release →

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