Aura Minerals Celebrates Borborema Mine Production Milestones
Aura Minerals Celebrates Borborema Mine Production Milestones
Aura Minerals Inc. (TSX: ORA) (B3: AURA33) (OTCQX: ORAAF) is thrilled to announce the commencement of the production ramp-up at its Borborema Mine. This achievement is pivotal as the company aims to reach commercial production by the third quarter of 2025. Positioned as a key asset within Aura's portfolio, Borborema is expected to deliver a significant production output, establishing itself as a cornerstone operation among the company’s five active mines.
Operational Excellence at Borborema Mine
According to Rodrigo Barbosa, President and CEO of Aura, the initiation of production at Borborema is a monumental milestone. He expressed pride in marking the opening of the company's fifth mining operation and its second greenfield project, highlighting Borborema's potential to become one of Aura's lowest-cost mines. The operation has been developed within a 19-month timeframe, maintaining an impressive track record of zero lost time incidents. Barbosa emphasized that this project exemplifies Aura's commitment to crafting simple, scalable, and efficient mining solutions.
Innovative Environmental Practices
Borborema stands out not only for its economic viability but also for its dedication to ESG standards. The mine incorporates innovative practices, such as utilizing grey water from nearby communities and employing renewable energy sources. Through these efforts, Borborema embodies Aura's mission of sustainable mining and responsible operational practices.
Strong Economic Fundamentals
The mine is projected to deliver compelling economic returns, showcasing an impressive after-tax internal rate of return (IRR) of 41.8% unleveraged, climbing to 81.4% with 50% leverage, based on a gold pricing of US$2,600 per ounce. It’s important to note that this analysis doesn’t factor in the potential for future reserve growth, which is anticipated following the completion of a crucial road relocation.
Details of Borborema Project
The Borborema project, entirely owned by Aura, is an open-pit gold mining initiative located in Brazil's Currais Novos municipality. Following a recent feasibility study, the mine is projected to yield 748,000 ounces of gold over an operational lifetime of 11.3 years. Current logistics show the potential for enhanced output, given that the site contains over 2 million ounces of gold classified as indicated mineral resources.
Annual Production Outlook and Community Engagement
For 2025, production guidance for Borborema is estimated between 33,000 to 40,000 ounces of gold. The mine's successful impact extends beyond production numbers; it directly employs around 2,184 personnel, with 68% sourced locally. Aura is committed to further expanding this local workforce, fostering entrepreneurship, and driving regional economic development.
About Aura 360° Mining
Aura Minerals embraces a holistic approach to mining, focusing on the multifaceted impacts of its operations on stakeholders, which include shareholders, employees, and the communities it serves through what they define as 360° Mining. The company operates five mines across the Americas, including its notable gold and copper operations, engaged in numerous development projects aimed at significant long-term growth.
Frequently Asked Questions
What is the current status of the Borborema Mine?
The Borborema Mine has begun its production ramp-up, with expectations to reach commercial production by the third quarter of 2025.
How does the Borborema project contribute to local communities?
Borborema employs approximately 2,184 people, largely from the local community, actively promoting regional economic development and entrepreneurship.
What are the anticipated economic returns from Borborema?
The Borborema Mine boasts an after-tax internal rate of return of 41.8% on an unleveraged basis, with significant potential for further growth.
What unique practices does Borborema implement for sustainability?
The mine utilizes grey water for operations and renewable energy sources, showcasing its commitment to environmental sustainability and responsible mining practices.
What is the production guidance for Borborema in 2025?
For 2025, Borborema's production guidance is between 33,000 and 40,000 ounces of gold, suggesting a strong economic future for the mine.
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