Santana Minerals

What Santana Minerals does

Santana Minerals Limited (ASX/NZX: SMI) is a pre-production gold mining developer whose sole focus is advancing the Bendigo-Ophir Gold Project in Central Otago, New Zealand. The company was founded in 2013, is headquartered in Brisbane, Australia, and operates a project office in Cromwell, New Zealand. The Bendigo-Ophir project is described as the most significant single gold deposit discovered in New Zealand in over four decades, with step-out drilling at the Rise and Shine deposit having extended known gold mineralisation 135 metres beyond previously defined limits.

The company's core product sits at the intersection of geological resource and regulatory pathway. An updated Pre-Feasibility Study projects up to 120,000 ounces of annual gold production, NZ$6 billion in revenue over the project lifecycle, more than NZ$1 billion in taxes and royalties to New Zealand, and approximately 300 regional jobs. To de-risk the operational path, Santana has secured a mining fleet valued at NZ$115 million from Komatsu New Zealand, including PC3400 and PC2000 excavators, HD1500 haul trucks, and a five-year on-site OEM technical support agreement. The project received EPA acceptance under New Zealand's Fast-track Approvals Act in November 2025, with a regulator decision deadline of October 29, 2026. Santana also holds early-stage exploration projects in Cambodia and Mexico as longer-dated optionality.

The business model is pre-revenue: the company generates no operating revenue and instead funds ongoing development through equity capital, with A$50.45 million in cash and A$54.42 million in capitalized exploration expenditure as of March 2026. Future revenue will be generated through gold commodity sales once production commences, distributed through established commodity market channels. The primary stakeholder base is institutional and retail investors on the ASX and NZX, with reported backers including AustralianSuper and Orion Resource Partners.

Name

Santana Minerals

Legal name

Santana Minerals Limited

Website

https://santanaminerals.com

Company type

Public

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Short description

Santana Minerals Limited is a pre-production gold mining developer dual-listed on the ASX and NZX, advancing the Bendigo-Ophir Gold Project in Central Otago, New Zealand, the country's most significant gold discovery in over four decades.

Ownership category

akta.pro rank

Product category

Gold Mining and Mineral Exploration

SIC

Gold And Silver Ores (1040)

akta.pro industry

PRIMARYIMAKAEAI

Precious Metals Exploration & Project Development

Industrials, Manufacturing & Construction/Metals & Mining/Precious Metals Mining & Refining (Gold, Silver, Platinum Group)

Keywords

• Gold mining operations
• Mineral exploration
• Precious metals mining
• Open-cast mining
• Mining project development

Headquarters

HQ city

Brisbane

HQ country

Australia

HQ region

Oceania

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Others

Revenue model

1. Gold Production and Sales: Santana Minerals is a pre-revenue junior mining company. Once the Bendigo-Ophir Gold Project receives approval and reaches production, revenue will be generated through the sale of gold produced from mining operations. The company projects annual gold production of 120,000oz and expects to generate NZ$6 billion in revenue with over $1 billion in taxes and royalties for New Zealand over the project lifecycle.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Santana Minerals is a pre-production gold mining development company focused on advancing the Bendigo-Ophir Gold Project in Central Otago, New Zealand — the most significant single gold deposit discovered in New Zealand in over four decades. The company is pursuing fast-track regulatory approval to develop an environmentally responsible open-cast gold mine projecting 120,000oz of annual gold production and up to 300 jobs. Santana also holds early-stage exploration projects in Cambodia and Mexico.

Product overview

Santana Minerals is a pre-production gold mining company with a single flagship project — the Bendigo-Ophir Gold Project in Central Otago, New Zealand. The company does not operate a platform-plus-modules architecture or offer multiple distinct products. Its sole focus is developing this single gold mine, which has an updated PFS projecting up to 300 jobs, 120,000oz annual gold production, and NZ$6 billion in revenue. The company also holds early-stage exploration projects in Cambodia and Mexico.

Differentiator

Problem solved

Functional benefit

Products and services

• Bendigo-Ophir Gold Project A proposed open-cast gold mine in Central Otago, New Zealand, representing the country's most significant single gold discovery in over four decades. The project is currently awaiting fast-track approval under New Zealand's Fast-track Approvals Act with a decision expected by October 29, 2026. Once developed, the project is projected to produce 120,000oz of gold annually, generate NZ$6 billion in revenue over its lifecycle, create up to 300 regional jobs, and deliver over NZ$1 billion in taxes and royalties to New Zealand.
• Cambodia Early-Stage Exploration Project Early-stage mineral exploration project located in Cambodia, held alongside the company's flagship Bendigo-Ophir project.
• Mexico Early-Stage Exploration Project Early-stage mineral exploration project located in Mexico, held alongside the company's flagship Bendigo-Ophir project.

Quantifiable outcome

• 120,000oz annual gold production projected
• +3 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• Komatsu New ZealandcoreTechnology or Integration · 31 March 2026Santana Minerals has secured build slots with Komatsu New Zealand for a mining fleet valued at NZ$115m ($65.8m) for the Bendigo-Ophir Gold Project. The agreement includes delivery of key mobile equipment including PC3400 and PC2000 excavators and HD1500 haul trucks. Additionally, Komatsu provides a five-year on-site technical support plan with operational, maintenance, and training assistance, supported by Komatsu's original equipment manufacturer financing.
• Environmental Protection Authority (EPA) - New Zealand GovernmentcoreStrategic or Co-development Partner · 24 November 2025Santana Minerals received EPA acceptance for its Bendigo-Ophir Gold Project under the Fast-track Approvals Act, marking a key milestone in the project's development. The EPA is reviewing the application under the fast-track process designed to accelerate permitting timelines for significant projects.

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Market position

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/santana-minerals-ltd

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

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 Santana Minerals