Serabi says Brazil assets operational after two fatal incidents
By Josh White
Date: Tuesday 03 Feb 2026
(Sharecast News) - Serabi Gold said on Tuesday that mining and milling operations at its Brazilian assets remained operational following two fatal incidents at its Palito complex and Coringa mine, adding that production was not interrupted and continued to progress in line with budget.
The AIM- and TSX-traded gold producer said it had complied with the protocols of all relevant agencies and authorities and was providing ongoing support to the families of those affected and to staff.
It added that it was well advanced with an internal review of relevant procedures as part of its continued commitment to employee health and safety.
The update followed reports of two fatal accidents at Serabi's underground operations last week.
According to Mining Weekly, an employee was killed in a mining-related traffic incident underground at the Palito operation on 30 January, with no other personnel injured.
That followed a separate fatal accident earlier in the week at the Coringa underground mine, where a worker was killed at the production face.
Serabi said the relevant authorities, including the police, were notified immediately and investigations remained ongoing due to the involvement of Brazilian regulators.
Mining Weekly reported that production in the area affected by the Palito incident was expected to resume within a few days once enquiries were completed, while operations elsewhere at the complex remained unaffected.
In its statement, Serabi Gold said operations across the group were at no point interrupted.
Serabi operates the Palito Complex in Brazil's Tapajós region, which historically produced between 30,000 and 40,000 ounces of gold per year, and was advancing the Coringa mine, which it expected to significantly increase production in the coming years.
At 1305 GMT, shares in Serabi Gold were up 7.74% at 285.5p.
Reporting by Josh White for Sharecast.com.
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