Serra Pelada is a high grade gold-platinum-palladium deposit located in the mineral and mining prolific Carajas region in Para State, northern Brazil, and is operated by Colossus Minerals Inc. (TSX:CSI). The existing infrastructure and accessibility to the site are excellent due to the close proximity of a number of major mines. During the 1980’s, Serra Pelada hosted the largest ever gold rush in Latin America with up to 80,000 artisanal miners producing 2 million ounces of gold, plus platinum and palladium, from a hand dug open pit.
SERRA PELADA ROYALTY
Sandstorm has a 1.6% net smelter returns royalty ("NSR") on the production from Serra Pelada. Sandstorm previously held a gold and platinum stream on the mine which was converted to the NSR during a restructuring of Colossus Minerals. The restructuring is currently ongoing and when complete, will enable Colossus to pursue additional financing or a sale process for Serra Pelada.