Meridian Mining Cabaçal DFS Shows Strong Economics and $2.09B NPV

Key Facts

1The Definitive Feasibility Study for the Cabaçal project delivered an after-tax NPV of $2.09 billion and an IRR of 108%.

2Total Life of Mine revenue is estimated at $5.4 billion with an initial capital expenditure of $322 million.

3Average annual production is projected at 183,526 gold equivalent ounces during the first five years.

In a move that underscores the robust economic potential of Brazil's mining sector, Meridian Mining has released the results of its Definitive Feasibility Study (DFS) for the Cabaçal copper-gold project. According to reports, the study delivered an after-tax Net Present Value (NPV) of $2.09 billion and an exceptional Internal Rate of Return (IRR) of 108%. The project requires an initial capital expenditure of $322 million and is expected to generate total Life of Mine revenue of approximately $5.4 billion.

Operational projections estimate an average annual production of 183,526 gold equivalent ounces during the first five years. This announcement comes amid broader Brazilian economic context where retail sales saw a 0.8% monthly decline in September per market data, and the central bank maintained interest rates at 13.75% on September 16, 2026. The project's high IRR is complemented by a remarkably short payback period of just 0.9 years, signaling rapid capital recovery.

Regarding market performance, the MRBK stock stood at $19.23 (close September 21, 2026), having traded between a low of $19.06 and a high of $19.29 during that session. Investors are now looking toward future financing and production milestones following these definitive results. With no major upcoming catalysts listed in the immediate economic calendar for the next few days, market attention remains focused on the execution of the Cabaçal development plan.