Aura Minerals


Aura Minerals Inc. is a multi-national mining company that owns and operates the gold and copper mines in Honduras, Brazil and Mexico. The company is headquartered in the British Virgin Islands, operated from its corporate office in Florida and has its stocks traded on the Toronto Stock Exchange.

Operations

The company's producing assets include the San Andres gold mine in Honduras and the Ernesto/Pau-a-Pique gold mine in Brazil. On July 16, 2018, the company announced the results of the NI 43-101 Feasibility Study for the restart of operations at its Aranzazu mine in Zacatecas, Mexico. The company is conducting an exploration program at its Sao Francisco gold mine in Brazil to determine if a re-start of the mine is feasible. In addition, the company has two additional gold exploration projects in Brazil, Almas and Matupá, and one gold project in Colombia, Tolda Fria.
In Brazil, the company owns the Mineraçāo Apoena subsidiaries, which operates the Sāo Francisco gold mine in Nova Lacerda, Mato Grosso.

History

Formerly, Canadian Baldwin Holdings Limited, the company changed its name to Aura Gold, with former-Yamana Gold CEO Victor Bradley as its new CEO, and listed shares on the Toronto Stock Exchange in 2006 in order to pursue exploration of gold properties in Brazil. In 2016, the company re-located its corporate offices from Toronto to Miami, Florida and, re-incorporated under the BVI Business Companies Act with its headquarters in Road Town, British Virgin Islands.
Mineraçāo Apoena, a subsidiary of Aura, closed the Sāo Vicente gold mine, located in Nova Lacerda, in July 2013. The closure is due to the natural depletion of the mine. The mine started commercial production in 2009 and in the first year of operations produced 49,584 ounces of gold from 2.16 million tons of ore with a 0.43 grams of gold per tonne content.
In early 2014, Aura Minerals reported that its mines hit record production in 2013. 206,700 ounces of gold were produced, an increase of 20% from the 172,500 ounces produced in 2012.
The Aranzazu mine, which produces copper in Mexico, had its activities suspended in January 2015. The company said ait would spend the first half reviewing the development plans, costs and expenses of the project
In May 2015, Aura Minerals signed an agreement with Serra da Borda Mineraçāo e Metalurgia, a subsidiary of Yamana Gold, to acquire the Ernesto / Pau-a-Pique gold mine, located near Pontes e Lacerda, through the issuance of shares, call options and payment of royalties on future production. The operation was approved by the Administrative Council for Economic Defense in July 2015.
In March 2018 the company completed a merger with TSX-listed Rio Novo Gold Inc in an all-stock deal with former Rio Novo shareholders forming 22% of the new Aura Minerals.