ARMZF - Aura Minerals targets nearly 90% production increase by 2025 with new mines - PDAC 2024

(NewsDirect)

Aura Minerals Inc chief financial officerKleber Cardoso joins Proactive's Angela Harmantas at PDAC 2024with more on the Latin American-focused gold and copper producer andthe significant growth it's currently experiencing.

In 2023, Aura made crucial progresstowards its goal of increasing production by nearly 90% by 2025, withthe introduction of three new mines. The company successfullytransitioned from three to four operations, notably by bringing theAlmas project in Brazil to completion. This new mine, constructed ontime and within budget at $75 million over 16 months, reachedcommercial production five months later. In 2023, Aura produced136,000 ounces of gold equivalents, with expectations to boostproduction by 10-20% in 2024 due to the new mine's fulloperation.

Aura aims to nearlydouble its output to 450,000 ounces of gold equivalent by 2025, withsignificant contributions from the Borborema project in Brazil,expected to produce 85,000 ounces annually. The project, already 20%complete and fully funded, benefits from fixed pricing for over halfof its capital expenditure, mitigating inflation risks and aiming foran early 2025 production start.

Beyond Borborema, Aura plans to continue its growth by advancingother projects in Brazil, including the Matupá project, with allnecessary permits and feasibility studies completed. This project,along with three early-stage ventures, is part of Aura's strategyto maintain its growth trajectory, aiming for continued expansion into2025 and beyond.

Contact Details

ProactiveNorth America

Proactive North America

+1604-688-8158

NA-editorial@proactiveinvestors.com

Copyright (c) 2024 TheNewswire - All rights reserved.