19 developed through a phased expansion approach where Phase 1 was initiated. Phase one initiated first production in late 2025 and provides early revenue and establishes the initial mining infrastructure. Phase 2 is designed to increase hoisting and processing capacity meaningfully as Shaft #3 comes online and in the first half of this year, enabling throughput ramp-up to start building up to more than 4 million tons per year. Phase 3, currently in planning, is expected to further scale the operation with additional concentrated capacity and expanded mining areas. This phase presents a significant step change in the long-term production profile and supports the potential for Platreef to become one of the largest and most efficient PGM operations globally. What sets Platreef apart is the thickness and geometry of the ore body. The ore body is 18 to 26 meters wide, making it suitable for fully mechanized mining. Compared to the very narrow historic mines on the Merensky Reef and UG-2, the wide ore body provides significant advantages in terms of safety, efficiency, manpower requirements and cost structure. We are looking forward to receiving first revenue from Platreef within the next quarter. Mara is one of the most material assets we acquired through the Sandstone Horizon transaction. Operated by Glencore, this is a large brownfield copper project in Argentina, and our interest includes a royalty that we have the option to convert into a 20% gold stream on the Agua Rica portion of the project in exchange for $225 million of payments funded during the construction period. Based on Glencore's gold production forecast, we expect approximately 22,000 ounces per year over the 23-year mine life. A key advantage of Mara is that the past producing Alumbrera mine will be restarted while the Agua Rica project is being constructed. The restart will focus on pushbacks on the existing Alumbrera pits which in addition to ore production will enable historic high wall instability to be addressed so that the pits can be used for future tailing storage during the mining of Agua Rica. The principal infrastructure project associated with the Agua Rica deposit will be the 35-kilometer ore conveyor which includes five kilometers of underground tunneling. The restart FID for Alumbrera was approved in Q4 2025, and first production is targeted for half one 2028. Glencore expects approval of the rigging application in the first half of this year, a final investment for Agua Rica targeted for 2027 with first production for Agua Rica in the second half of 2031. Importantly, this asset has progressed more quickly than we expected when we acquired it through the Sandstorm transaction. Great Bear remains the centerpiece of Kinross's development pipeline. Located in Red Lake, Ontario, original extensive deep mining experience, the PEO released in 2024 outlined 500,000 ounces per year over the first eight years of operation. We hold a 2% NSR on the project. Kinross is focused on engineering, permitting and exploration throughout 2026. The advanced underground -- the advanced exploration underground program (or AEX), is progressing well and will provide exploration access at depth.