SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2025

Schedule of segment information
For the year ended December 31, 2025	Minosa Mine			Apoena Mine			Aranzazu Mine			Almas Mine			Borborema Mine			Serra Grande Mine			Total reportable segments			Non reportable segments (1)			Total

Revenue		230,518			120,389			246,405			195,981			108,202			20,238			921,733			-			921,733
Cost of goods sold		(80,847	)		(44,153	)		(95,140	)		(57,232	)		(28,459	)		(10,306	)		(316,137	)		-			(316,137	)
Depreciation and amortization		(5,002	)		(14,489	)		(27,690	)		(12,508	)		(7,177	)		(3,857	)		(70,723	)		-			(70,723	)
Gross profit		144,669			61,747			123,575			126,241			72,566			6,075			534,873			-			534,873

General and administrative expenses		(4,302	)		(3,822	)		(6,785	)		(4,484	)		(2,863	)		(224	)		(22,480	)		(27,572	)		(50,052	)
Exploration expenses		(1,345	)		(413	)		(3,594	)		(1,931	)		(440	)		(134	)		(7,857	)		(161	)		(8,018	)
Change in estimation for mine closure and restoration		-			(239	)		-			-			-			(250	)		(489	)		-			(489	)
Other income (expenses) , net		(8,455	)		(1,751	)		(714	)		(4,869	)		145			26			(15,618	)		(1,829	)		(17,447	)
Operating income (loss)		130,567			55,522			112,482			114,957			69,408			5,493			488,429			(29,562	)		458,867

Finance expense		(4,124	)		(9,942	)		(6,041	)		(8,577	)		(15,555	)		669			(43,570	)		(346,602	)		(390,172	)
Finance income		331			669			235			4,351			339			-			5,925			3,166			9,091
Interest expense on loans and debentures		(1,368	)		(4,810	)		(2,275	)		(14,326	)		(3,134	)		-			(25,913	)		-			(25,913	)
Income (loss) before income taxes		125,406			41,439			104,401			96,405			51,058			6,162			424,871			(372,998	)		51,873

Current tax		(34,573	)		(4,066	)		(32,727	)		(37,314	)		(22,556	)		-			(131,236	)		(7,595	)		(138,831	)
Deferred tax		4,361			(20	)		(8,944	)		7,038			5,991			(1,753	)		6,673			945			7,618
Income taxes		(30,212	)		(4,086	)		(41,671	)		(30,276	)		(16,565	)		(1,753	)		(124,563	)		(6,650	)		(131,213	)
(Loss) / Profit for the year		95,194			37,353			62,730			66,129			34,493			4,409			300,308			(379,648	)		(79,340	)

Property, plant and equipment		70,928			77,081			132,240			157,034			242,987			141,589			821,859			123,495			945,354
Total assets		108,077			201,519			428,473			325,020			162,565			196,800			1,422,454			186,542			1,608,996
Total liabilities		94,085			135,387			121,689			259,374			156,520			95,493			862,548			480,711			1,343,259
Purchase of property, plant and equipment		11,720			34,652			29,209			23,402			56,682			3,784			159,449			19,985			179,434

(1) Non Reportable segments are composed by Matupá, Tolda Fria, Carajás and Era Dorada Projects.


For the year ended December 31, 2024	Minosa Mine			Apoena Mine			Aranzazu Mine			Almas Mine			Borborema Mine			Total reportable segments			Non reportable segments (1)			Total
Revenue		177,692			90,273			196,787			129,411			-			594,163			-			594,163
Cost of goods sold		(88,999	)		(46,398	)		(94,198	)		(51,451	)		-			(281,046	)		-			(281,046	)
Depletion and amortization		(5,873	)		(16,477	)		(25,538	)		(13,959	)		-			(61,847	)		-			(61,847	)
Gross profit		82,820			27,398			77,051			64,001			-			251,270			-			251,270

General and administrative expenses		(4,383	)		(4,481	)		(7,143	)		(2,808	)		(849	)		(19,664	)		(13,609	)		(33,273	)
Exploration expenses		(1,107	)		(368	)		(4,673	)		(1,134	)		(305	)		(7,587	)		(6,374	)		(13,961	)
Change in estimation for mine closure and restoration		-			1,330			-			-			-			1,330			-			1,330
Other income (expense), net		(1,899	)		317			(1,840	)		74			(1	)		(3,349	)		2,082			(1,267	)
Operating income/(loss)		75,431			24,196			63,395			60,133			(1,155	)		222,000			(17,901	)		204,099

Finance expense		(5,411	)		(16,034	)		(2,077	)		(14,357	)		(14,871	)		(52,750	)		(103,765	)		(156,515	)
Finance income		180			704			-			1,936			1,636			4,456			1,647			6,103
Interest expense on loans and debentures		(1,899	)		317			(1,840	)		74			(2	)		(3,350	)		2,083			(1,267	)
Income/(Loss) before income taxes		68,301			9,183			59,478			47,786			(14,392	)		170,356			(117,936	)		52,420

Current tax		(19,174	)		(1,984	)		(15,859	)		(13,010	)		-			(50,027	)		(2,944	)		(52,971	)
Deferred tax		(764	)		(2,286	)		(15,080	)		(10,393	)		-			(28,523	)		(1,197	)		(29,720	)
Income taxes		(19,938	)		(4,270	)		(30,939	)		(23,403	)		-			(78,550	)		(4,141	)		(82,691	)
(Loss) / Profit for the year		48,363			4,913			28,539			24,383			(14,392	)		91,806			(122,077	)		(30,271	)

Property, plant and equipment		62,566			62,779			127,509			145,296			184,092			582,242			28,542			610,784
Total assets		90,620			189,770			346,398			301,453			135,152			1,063,393			16,869			1,080,262
Total liabilities		94,976			139,871			102,365			232,488			151,233			720,933			136,374			857,307
Purchase of property, plant and equipment		9,983			5,580			29,350			13,865			117,187			175,965			4,612			180,577

(1) Non Reportable segments are composed by Matupá, Tolda Fria, Carajás and Era Dorada Projects.


For the year ended December 31, 2023	Minosa Mine (1)			Apoena Mine (2)			Aranzazu Mine			Almas Mine			Borborema Project (Recast)			Total reportable segments (Recast)			All other segments (Recast)			Total
Revenue		122,046			83,784			176,814			34,250			-			416,894			-			416,894
Cost of goods sold		(82,893	)		(51,865	)		(87,168	)		(22,135	)		-			(244,061	)		-			(244,061	)
Depletion and amortization		(5,325	)		(17,554	)		(20,391	)		(3,546	)		-			(46,816	)		-			(46,816	)
Gross profit		33,828			14,365			69,255			8,569			-			126,017			-			126,017

General and administrative expenses		(4,543	)		(4,835	)		(3,860	)		(2,084	)		(1,086	)		(16,408	)		(10,803	)		(27,211	)
Exploration expenses		(289	)		(238	)		(6,916	)		-			-			(7,443	)		(4,338	)		(11,781	)
Other income (expense), net		(1,043	)		(24	)		(944	)		(1,599	)		(25	)		(3,635	)		4,295			660
Operating income/(loss)		27,953			9,268			57,535			4,886			(1,111	)		98,531			(10,846	)		87,685

Finance expense		(4,715	)		(9,966	)		(925	)		(740	)		-			(16,346	)		(25,194	)		(41,540	)
Finance income		109			694			104			405			1,065			2,377			2,248			4,625
Interest in debt		(2,111	)		(4,719	)		(2,871	)		(2,763	)		-			(12,464	)		-			(12,464	)
Income/ (Loss) before income taxes		21,236			(4,723	)		53,843			1,788			(45	)		72,098			(33,792	)		38,306

Current tax		(7,048	)		(705	)		(10,533	)		(512	)		-			(18,798	)		-			(18,798	)
Deferred tax		860			1,040			(234	)		9,615			-			11,281			1,091			12,372
Income taxes		(6,188	)		335			(10,767	)		9,103			-			(7,517	)		1,091			(6,426	)
(Loss) / Profit for the year		15,048			(4,388	)		43,076			10,891			(45	)		64,582			(32,702	)		31,880

Property, plant and equipment		55,362			83,095			121,445			145,316			59,557			464,775			23,958			488,733
Total assets		58,905			186,537			286,344			157,382			194,872			884,040			39,784			923,824
Total liabilities		80,902			158,389			70,846			109,064			136,961			556,162			52,860			609,022
Purchase of property, plant and equipment		6,383			17,789			24,502			40,612			2,588			91,874			4,220			96,094

(1) Non Reportable segments are composed by Matupá, Tolda Fria, Carajás and Era Dorada Projects.