Meridian Mining's Cabaçal Project Value Doubles to $2.09 Billion

Meridian Mining's Cabaçal gold-copper project in Brazil has seen its estimated value more than double to $2.09 billion after a new feasibility study, according to the company.

The updated study uses higher metal-price assumptions of $3,570 per oz. gold, $5.03 per lb. copper, and $50.17 per oz. silver compared to previous estimates.

Initial capital for the project is now pegged at $322 million, up from $248 million in a March 2025 prefeasibility study that used lower metal prices.

Scotiabank mining analyst Eric Winmill described the feasibility study update as positive for Meridian shares, citing a robust project with manageable capex.