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Reporting assumptions

These choices persist and are added to shared URLs.

Ownership basis

Show the full project inventory before ownership adjustment.

Display scale

Display contained quantities in millions of ounces or tonnes.

Resource treatment

Normalise Resources to exclude Reserves: where a project is flagged inclusive, net Reserves out of Resources so the figure is additional Resources beyond Reserves. Unknown-convention rows are shown as stated.

Resource total

Total Resource includes Inferred (JORC convention). Totals are re-derived from category rows wherever the document discloses them.

Recovery basis

Show the issuer's headline recoverable figure as reported. Lithium-brine reserves already have the brine-processing recovery factor applied; everything else is shown as stated.

Commodity view

Primary view: each commodity in its own contained unit (oz / t).

Rio Piracicaba

Minas Gerais, Brazil · Producing · 100.0% ownedUnverified

Current R&R by category

Whole-project rollup at the latest vintage per category: printed project-level rows are preferred, and mining areas are summed (tonnes-weighted grade) only where the issuer prints no project-level row. Per-area and per-source detail in the Current R&R table below.

Category	Tonnes (Mt)	Grade (% Fe)	Contained (Mt Fe)	As at
Measured	—	—	—	—
Indicated	2.77 Mt	33.62%	0.93 Mt Fe	16 June 2025
Inferred	5.08 Mt	30.39%	1.55 Mt Fe	16 June 2025
Total Resources	7.85 Mt	31.53%	2.48 Mt Fe	16 June 2025
Proved	—	—	—	—
Probable	—	—	—	—
Total Reserves	—	—	—	—

Cut-off grade

20.0000 % Fe

Price assumption

US$90.00/t

JORC code year

—

Peer benchmark — producing Fe projects (34 with resources)Resource size P4Resource grade P22View on grade-tonnage chart →

Percentile of this project's current total Resource among covered peers (P100 = largest / highest grade). Basis and Inferred toggles apply.

Data quality

Latest source: 20-F: 20-F · 16 June 2025
Reporting code: SK-1300
Convention: unknown
Currency assumption: US$

Current R&R

Resources

Category	Tonnes (Mt)	Fe		As at	Source	Provenance
Category	Tonnes (Mt)	Grade (% Fe)	Contained (Mt Fe)	As at	Source	Provenance
Indicated	2.77 Mt	33.62%	0.93 Mt Fe	16 June 2025	Rio Piracicaba Project – Iron Ore mineral resource summary tableUnverified Evidence record Rio Piracicaba Indicated · Fe · as at 2025-06-16 Reported figure Area Whole project Basis 100% Ore tonnes (t) 2768046.0000 Grade 33.6200 Contained (t Fe) 930617.0652 Classification Resource Source trail 20-F: 20-F Rio Piracicaba Project – Iron Ore mineral resource summary table Published 2026-02-20 Verification Approved; not independently verified · Model extracted Copies a pre-filled issue record so you can send it through your normal channel.