Natural water reservoir and green landscape at the Belo Sun Mining.
Xingu River, Brazil
Belo Sun Mining corporate logo featuring a four-point compass star emblem beside blue, yellow, and green text.

Belo Sun Mining

Gold

Current investment

Belo Sun Mining is a Canadian development-stage mining company that is advancing Brazil’s largest undeveloped gold deposit at the Volta Grande Gold Project in Pará State. La Mancha became a strategic investor in Belo Sun on the basis of its conviction that Belo Sun’s Volte Grande Project has the potential to offer significant long-term value through its long mine life, robust production, low operating costs and attractive economics.

La Mancha’s impact

Through its investment and partnership, La Mancha has improved Belo Sun’s positioning to advance the Volta Grande Gold Project and create long-term value for all its stakeholders. This includes:
  • ✓Supporting the company in its successful efforts to have the Project’s installation licence reinstated
  • ✓Taking steps to strengthen Project fundamentals
  • ✓Appointing experienced managers with local market knowledge and a history of successfully permitting, building and operating mines in Brazil
  • ✓Revitalising market sentiment with a significant increase in the company’s share price since La Mancha’s initial investment
  • ✓Continuously and proactively providing support across technical, financial, legal and commercial matters
  • ✓Harnessing sustained benefits from La Mancha’s track record, regional knowledge and long history of successful gold investment
  • La Mancha is now working with Belo Sun to support the company’s efforts to start construction at the Volta Grande Gold Project.

    Metal

    Gold

    Region

    Latin America

    Current ownership

    19.90%

    Market cap

    USD 189m*

    Board seats

    1

    Holding since

    2024

    Head count

    30*

    Ticker

    BSX (TSX)

    *As of 30 December, 2025

    Metal

    Gold

    Region

    Latin America

    Current ownership

    19.90%

    Market cap

    USD 189m*

    Board seats

    1

    Holding since

    2024

    Head count

    30*

    Ticker

    BSX (TSX)

    *As of 30 December, 2025

    Seeking industrial value creation through long-term investments in gold mining.