What Serabi Gold does

Serabi Gold plc is a London-headquartered gold mining and production company operating exclusively in the Tapajós region of Pará State, Brazil. The company's production base is the Palito Complex, which encompasses the Palito and Sao Chico orogenic gold deposits processed through a centralized carbon-in-pulp (CIP) facility, supplemented by ore sorting technology that reduces feed mass by 45-50%. The Coringa Gold Project, acquired in 2017 for $22 million, is the company's principal development-stage asset and is advancing toward production following the March 2026 FUNAI approval of the Indigenous Impact Study. Serabi holds mineral rights across approximately 84,000 hectares with a resource inventory of 1.4 million ounces supported by over 30,000 meters of historical drilling.

The company's business model is direct commodity sales of gold doré bars into global spot markets at prevailing prices. In FY2025, Serabi produced a record 44,169 ounces at an average realized price of $3,481/oz, generating revenue of $155.9 million and EBITDA of $77.9 million. The company employs more than 700 people directly in Brazil and is led by an experienced operating team with a senior leadership refresh in January 2025 (new COO Marcus Brewster and CFO Colm Howlin). A fourth ball mill installation targeting 330ktpa capacity by Q4-2026 supports the stated growth path toward 100-200koz annual production over a 3-5 year horizon.

Serabi is dual- and triple-listed on the AIM market of the London Stock Exchange (LSE:SRB), the TSX in Toronto, and the OTCQX market in the United States, with a market capitalization of £217.74 million as of April 2026. The company achieved debt-free status in January 2026 and declared its first dividend in 2025, signaling capital structure maturation alongside operational growth. Strategic partnerships include a Vale exploration alliance in the Tapajós region (2023) supporting brownfield target generation across Serabi's broader land position.

Name

Serabi Gold

Legal name

Serabi Gold Plc

Website

https://serabigold.com

Company type

Public

Founded year

2003

Operating status

Operating

Headcount range

101–250 employees

Short description

Serabi Gold plc is a London-listed gold producer and developer operating the Palito Complex and advancing the Coringa Gold Project in Brazil's Tapajós region, with FY2025 production of 44,169 ounces and revenue of $155.9 million.

Ownership category

akta.pro rank

Product category

Gold Mining and Production

NAICS

Gold Ore and Silver Ore Mining (21222), Metal Ore Mining (2122)

SIC

Gold And Silver Ores (1040), Metal Mining (1000)

akta.pro primary industry

Gold Mining (IMAKAEAA)

akta.pro secondary industries

Silver Mining (IMAKAEAB), Precious Metals Smelting & Refining (IMAKAEAE)

Keywords

• Gold mining
• Gold production
• Mineral exploration
• Underground mining
• Ore processing

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Infrastructure

Revenue model

1. Gold Sales: Primary revenue from gold production and sales. Record 2025 production of 44,169 ounces at average gold price of $3,481 per ounce, generating $155.9 million in revenue.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Serabi Gold is a gold mining and production company that operates two 100%-owned mining assets in Brazil's Tapajós region — the Palito Complex (underground hard-rock mine producing 30-40koz annually) and the Coringa Gold Project (high-grade underground mine ramping up to 25-30koz). The company extracts and processes gold ore using gravity separation, cyanidation (CIP), and ore sorting technology, selling the resulting gold into global commodity markets at market prices.

Product overview

Serabi Gold is a gold mining and development company operating two 100%-owned mining operations in Brazil's Tapajós region: the Palito Complex (underground mine producing 30-40koz annually) and the Coringa Gold Project (high-grade underground mine ramping up to 25-30koz). The company processes ore at its Palito Complex using gravity and cyanidation with CIP technology, supported by ore sorting technology. Fourth ball mill installation underway to expand throughput capacity.

Differentiator

Problem solved

Functional benefit

Products and services

• Palito Complex Underground hard-rock, high-grade, narrow-vein gold mine operated since 2003, producing 30-40koz gold annually with capacity of 650 tonnes per day and recovery rates exceeding 90%. The mine includes a CIP processing plant with three ball mills, gravity circuits, and flotation circuits.
• Coringa Gold Project 100%-owned gold project located 200km south of Palito, producing high-grade ore transported to Palito for processing. First gold production achieved July 2022 with target production of 25-30koz Au per year. Includes a crusher and ore sorter commissioned in October 2024.
• Ore Sorting Technology Colorimetric and X-ray ore sorting technology deployed at Coringa that reduces mined material mass by 45-50% for Coringa ore, increasing processing efficiency and reducing transport requirements.
• CIP Processing Plant (Palito) Carbon-in-pulp processing plant with approximately 600 tpd capacity (expanding to 900 tpd with fourth ball mill by Q4-2026), featuring gravity and cyanidation processes, ball mills, and flotation circuits for copper-gold ore. Processes ore from both Palito and Coringa mines.

Quantifiable outcome

• Record 44,169 ounces gold production in 2025, 18% increase YoY
• +5 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• ValeminorStrategic or Co-development PartnerSerabi had an exploration alliance with Vale in the Tapajós region in 2023.

Scale indicators16 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Equinox Gold: Mid-tier gold producer with significant Brazilian operations (including the former Anfield Gold/Coringa seller). Equinox Gold is a directly comparable Latin America-focused gold producer with multiple producing assets, making it a natural comparable for Serabi's growth profile and Brazilian exposure.
• Aura Minerals: Mid-cap gold and copper producer with operations primarily in Brazil, Mexico, and Honduras. Aura's Brazilian assets (Almas, Ernesto/Pau-a-Pique) make it a directly comparable sub-200 koz producer operating in similar jurisdictions and geological settings.
• G Mining Ventures: Canadian-listed gold producer that recently brought the Tocantinzinho mine into production in Pará State, Brazil. Highly comparable as a Brazilian-focused, growth-oriented mid-tier gold producer at a similar production scale to Serabi's stated 100-200 koz target.
• Hochschild Mining: Mid-tier precious metals producer (gold and silver) with Latin American operations. Comparable as an AIM-listed, mid-cap precious metals producer pursuing production growth in similar jurisdictions.

Emerging players

• Cabral Gold: Emerging Brazilian gold developer focused on the Cuiú Cuiú project in Pará State. Operates in the same Tapajós region as Serabi, making it a regional peer with overlapping geological potential but at a pre-production stage.
• Troy Minerals: Emerging gold and base metals explorer with Brazilian assets. Comparable as a small-cap, Brazil-focused exploration and development company in the same general market segment, though at an earlier stage.
• Belo Sun Mining: Canadian-listed developer of the Volta Grande gold project in Pará State, Brazil. Directly comparable as a small-cap, Brazil-focused gold developer operating in the same jurisdiction and geological province as Serabi.

Broad incumbents

• IAMGOLD: Mid-tier gold producer with significant operations in Suriname, Canada, and West Africa. While not Brazil-focused, IAMGOLD is a useful comparable for sub-300 koz gold producers pursuing growth from a similar scale base and trading at similar valuation multiples.
• AngloGold Ashanti: One of the world's largest gold miners with major Brazilian operations (AGA Mineração) in Minas Gerais and historically significant Pará exposure. A broad incumbent with overlapping Brazilian gold exposure though operating at a much larger scale.
• Pan American Silver: Major precious metals producer with diversified Latin American silver and gold operations. Comparable as a mid-to-large cap precious metals producer with regional Latin American exposure, though at a much larger scale and with more diversified commodity mix.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/Serabi_Gold
• LinkedInlinkedin.com/company/serabi-minera-o-sa

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Serabi Gold