“Although we received the final permit in December, we decided to wait until after the winter to commence production so as to hit the ground running. We have now started production when the gold price is more than US$500 higher from when we acquired and started building the mine two years ago. This has given us a great base to grow from.”
“The LP Fault is one of the largest gold targets in Canada considering strike length and depth potential and it behooves us as a company to show what a discovery of this magnitude can deliver. Drilling is key to put meat on the bones. Exploration highlights are important, but showing continuity and grade over distance is the real target here.”
Altamira is making the transition from an exploration to a production company at the perfect time for the price of gold, and an opportune time in Brazil – a pro-mining country that has streamlined its permitting processes.
2025 was a year of change for Ontario’s mining industry. Canada’s evolving international relationships heightened the focus on economic sovereignty, while federal and provincial elections brought critical minerals to the forefront of policy discussions. The provincial government’s ‘One Project, One Process’ framework aims to reduce permitting delays, as critical mineral prices show early signs of recovery from a prolonged weak cycle.