A Message from our VP
Letter from the Vice President
Sustainability and ESG as pillars of growth
Mineração Taboca is experiencing a landmark moment in its recent history. The year 2025 marked a decisive turning point for our company, strengthening our financial capacity, technology, and long-term strategic vision, which allowed us to achieve our best operational and financial performance of the last 20 years. This progress comes amid a context of great responsibility: we operate in the Amazon, within one of the planet’s most sensitive biomes, alongside Indigenous People and a Biological Reserve.
In this context, ESG is intrinsic to our pursuit of competitiveness, operational efficiencies, modernization, and technological innovation, coupled with environmental rigor, social responsibility, and sound governance. Global demand for products that enable the energy transition is growing and is closely tied to the core of our business: refined tin and niobium and tantalum ferroalloys. Thus, we recognize that our guiding principle is to connect responsible mining, societal well-being, and regional development through the implementation of private social investment projects, thereby generating shared value.
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Our commitment is tangible: US$100 million will be invested in operations and, among our various initiatives, ESG will play a key role, including research on the circular economy to add value to our tailings and other wastes.
The ESG Board is responsible for advancing this strategy in an integrated manner systemic manner, linking economic growth to the integration of our objectives, from extraction to sale, thus ensuring that every action contributes to our purpose of generating value by transforming mineral resources sustainably. We truly believe that ESG is the primary driver for future-proofing our business model.
Safety is non-negotiable: over the course of a decade, we have reduced our accident rate by 85%. Our Pirapora do Bom Jesus (São Paulo) facility has earned SafeStart Gold certification, the milestone award of a global methodology focused on reducing accidents caused by human error. We aim to achieve the same result at our Pitinga (Amazonas) facility. We have established an Executive Health and Safety Office and have consistently invested in Health and Quality of Life programs.
All of this is made possible by our more than 3,500 direct and indirect employees. They are the ones who sustain our operations, face daily challenges, keep our company culture alive, and show – not only in corporate climate surveys but in their day-to-day work – genuine pride in being part of this story. We honor this sense of pride by conducting our business seriously, ethically, and with a permanent commitment to the overall well-being of everyone.
This is a remarkable moment of opportunity for Taboca. Our mining and industrial complex at Pitinga (our own open-pit tin mine) in the Amazon holds the world’s largest tantalum reserve (8%) and one of the world’s largest tin reserves, accounting for about 3% of all global refined tin production. Investments in drilling, geological research, and modernization will place us among Brazil’s largest mining companies within the next five years.
Our first Sustainability Report is part of this context: a milestone of transparency, commitment, and progress, setting off a journey of structured reporting that will be further developed in future cycles and reflects our ambition: to rank among the leading companies in ESG within the Brazilian mining sector within five years.
I hope you find this report informative, have a nice reading.
José Flávio Alves | Vice President
About Us
We produce world-class critical minerals. Taboca is Brazil’s largest producer of refined tin.
We are a team of approximately 3,500 (direct and indirect employees) united by a common goal: to excel in everything we set out to do.
Overview
Key results
Highlights: 2025 data and our journey
Business Performance
USD 37 millionin consolidated net income in 2025, in a year of record revenue.
USD 73 millionin adjusted EBITDA, with a margin of 23.5%.
USD 34 millioninvested in CAPEX during 2025. USD 62.5 million has been forecasted for 2026
Our Solutions: Output and Sales in 2025
+10 million tonsof ore mined and handled at our mine, the largest volume in our history.
5,873 tonsof refined tin output in 2025.
6,140 tonsof refined tin sold.
4,630 tonsof niobium and tantalum ferroalloys sold containing niobium and tantalum.
* Refers to the total consolidated cost of extracting, processing, and delivering product to end clients. ¹ Output data refer to Mineração Taboca’s own output at the Pitinga (AM) Mine and Pirapora do Bom Jesus (SP) Metallurgy Plant.
Key results | ESG
Adherence to the Brazilian Corporate Integrity Pactthis voluntary, public commitment is an initiative of the Brazilian Office of the Comptroller General (CGU).
Material topicsMineração Taboca’s First Materiality Assessment.
USD 9.3 millioninvested in our Degraded Areas Recovery Plan since 2016 (an average of R$ 5 million per year).
493 hectaresundergoing revegetation and active recovery
+400,000seedlings planted, sourced from native parent plants in our own Nursery.
Gold certificationGHG Protocol Gold Seal for the fourth consecutive year. Our GHG inventory shows we have neutralized our Scope 2 emissions.
82%of all power consumed at the Pitinga mine was clean energy generated by our own hydroelectric power plant.
I-RECall power consumed in the Pirapora unit is offset through the purchase of I-REC certificates from Engie.
80%of all water abstracted and consumed at the Pirapora unit is reused.
Our tin
is registered with the London Metal Exchange (LME). we are members of the International Refined Tin Association (ITA): this means we adhere to global standards for social and environmental responsibility and traceability. bears the RMI (Responsible Minerals Initiative) seal: this means it is traceable, audited, and sourced from ethical and responsible sources.
Introduction
About this Report
This is the first Sustainability Report for Mineração Taboca S.A., and thus marks the beginning of annual reporting on our environmental, social, and governance (ESG) performance.
The contents of this report consolidate strategic information about our operations, progress made, and commitments for the period from January 1 to December 31, 2025, based on the material topics identified in 2025, the Global Reporting Initiative (GRI) Standards, and their correlation with the Sustainable Development Goals (SDGs). The preparation process also included interviews with senior leadership and various departments across the company, helping to provide context on our current strategic moment.
The information contained in the Greenhouse Gas (GHG) Emissions Inventory was independently verified by the Fundação Vanzolini Certification Unit.
This is only the first milestone on an ongoing journey of improvement. With each reporting cycle, we will expand the depth and scope of the information disclosed, strengthening governance and transparency in our communication with our employees, customers, partners, communities, and society.
Our history
- 1969Mineração Taboca founded.
- 1973Refined tin first produced at the Pirapora plant.
- 1982Operations begin at the Pitinga mine.
- 2006Transition from alluvial mining to rock mining.
- 2008Company acquired by Minsur.
- 2015Production of Nb and Ta3 ferroalloys expands.
- 2025Company acquired by China Nonferrous Metal Mining (CNMC).
- 2026US$100 million investment cycle through 2028 announced.
3 Nb = Niobium / Ta = Tantalum.
Purpose
To improve lives by transforming minerals into well-being.
Mission
To create value by processing minerals in a sustainable manner.
Vision
To develop and operate world-class assets, setting the standard for safety, operational efficiency, and environmental responsibility.
Purpose, vision, and values
Values
at the heart of who we are and what we do.
- ExcellenceWe strive to be the best at what we do.
- CommitmentWe fulfill every commitment we make; we persevere.
- IntegrityWe conduct ourselves with utmost honesty, transparency, and respect.
- ResponsibilityWe respect all our stakeholders and are socially and environmentally responsible.
- TrustWe build relationships based on trust; we are sincere, authentic, and supportive.
- SafetyWe conduct all our activities safely.
Sustainability Report 2025
Contents
GRI Indicators
Indicators Center
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62 disclosures · The full GRI Content Index is in the Appendices chapter, pages 110 to 115.
Downloads
Report in PDF
- Download the full report (PDF)Sustainability Report 2025PDF · 120 pages · 17.9 MB
- Download Chapter 1: Introduction (PDF)1IntroductionPDF · 3.1 MB
- Download Chapter 2: Mineração Taboca (PDF)2Mineração TabocaPDF · 5.9 MB
- Download Chapter 3: Sustainability Strategy (PDF)3Sustainability StrategyPDF · 0.6 MB
- Download Chapter 4: Sustainable Value Creation (PDF)4Sustainable Value CreationPDF · 3.2 MB
- Download Chapter 5: Resilience and Shared Value (PDF)5Resilience and Shared ValuePDF · 1.0 MB
- Download Chapter 6: Promoting Ethical and Conflict-Free Mining (PDF)6Promoting Ethical and Conflict-Free MiningPDF · 0.6 MB
- Download Chapter 7: Appendices (PDF)7AppendicesPDF · 4.3 MB
- Download the GRI disclosures (CSV)GRI disclosuresCSV · UTF-8 encoding, semicolon-separated