Meridian weighs $400 million investment decision for Cabaçal mine

AI desk brief

Meridian Mining has entered pre-construction at its Cabaçal copper-gold project and is assessing financing proposals of up to $400 million ahead of a final investment decision. It has committed $30.9 million to pre-construction contracts and secured licensing for the project’s power line, although contractor selection remains pending. A September 2026 feasibility study valued after-tax NPV at $2.09 billion, using gold at $3,570/oz, copper at $5.03/lb and silver at $50.17/oz. Progress primarily affects Meridian’s development outlook; additional metal supply would depend on financing and construction, and the article establishes no material near-term bullion-price effect.