Mara Rosa

Mara Rosa is an open pit gold mine located in the mining friendly jurisdiction of Goiás State in Brazil.

Construction was completed on time and on budget and the first gold pour was achieved in February 2024. The mine is expected to ramp up to commercial production by the end of H1 2024.




With Hochschild’s core strengths and long-term strategy of acquiring and optimising development stage projects in the Americas

Long-life asset

Enhances the Company’s portfolio by adding a long-life asset located in a mining friendly jurisdiction


Provides exposure to a high-quality project with attractive costs where certain infrastructure construction is underway


Offers compelling near-mine and regional exploration opportunities


Complementary ESG-led approach with strong local community and government support

Strong & Flexible

Maintains Hochschild’s financial strength and flexibility

Mara Rose in Goiás State, Brazil

Initial Mine Life 10 years
Average Annual Production ~80koz Au (~100koz AU over the first four years)
Average Annual AISC US$950-$1,000/oz Au
Initial Capex US$200m
Sustaining Capex ~US$40m
After-Tax NPV @ 5% @ US$1,800/oz Au US$200m - US$240m
After-Tax IPR @ US$1,800/oz Au 24% - 26%
  Tonnes (Mt) Au (g/t) Au (koz)
Proven 11.8 1.2 456
Probable 12.0 1.16 446
Proven and Probable 23.8 1.18 902
  Tonnes (Mt) Au (g/t) Au (koz)
Measured 14 1.2 510
Indicated 19 1.1 640
Measured and Indicated 32 1.1 1,200
Inferred 0.1 0.6 1.7

Key Dates

1 April 2022

Acquisition completed

H1 2022

Construction start

H1 2024

First production