The asset's reserves as at December 31, 2018 increased 4% to 1.9 million tonnes grading 11 grams per tonne of gold for 688,000 ounces, while measured and indicated resources increased 7% to 3.5Mt from a year earlier.
The Agua Rica mineral reserve is estimated to contain 4.5 million tonnes of copper and 6.5 million ounces of gold contained in approximately 910 million tonnes of ore.
Brazil’s new right-wing government is going ahead with announced changes to current mining regulations, which include a controversial plan to open up indigenous reserves to mining.