The Xavantina Operations are located in southeastern Mato Grosso State, Brazil, approximately 670 km east of the capital city of Cuiabá and consist of fully integrated underground gold mining and processing facilities. The high-grade, shear-zone hosted, quartz vein system is accessed via a single decline, and current mining operations are focused on the Santo Antônio vein. Ore is processed using a conventional three-stage crushing circuit, milling, and a combination of gravity concentration and intensive leaching and flotation followed by carbon in leach at the Xavantina Mill, located adjacent to the underground mine.
Near mine exploration activities are focused down-plunge of the Santo Antônio, Matinha, Brás and Buracão veins. In early 2021, the first regional exploration program commenced, focused on the under-explored, 31,716 hectare land package held by Ero Copper.
In August 2021, RGLD Gold AG, a wholly owned subsidiary of Royal Gold, Inc., purchased a $110 million gold stream on the Xavantina Operations, which was extended in March 2025 with an additional $50 million payment. Under the terms of the agreement, RGLD Gold AG receives 25% of gold produced from the operation until 160,000 ounces have been delivered, after which the rate decreases to 10% for the life of mine. Ongoing payments are equal to 20% of the prevailing spot gold price for each ounce delivered until 49,000 ounces have been received - a milestone that has now been met - after which RGLD Gold AG pays 40% of the prevailing spot gold price for each ounce delivered. Full transaction details are available in the Company’s March 31, 2025 press release.