Aura Minerals Successfully Starts Ramp-Up at Borborema, On Schedule, Within Budget, and Setting an ESG Benchmark
Rhea-AI Summary
Aura Minerals (TSX: ORA, OTCQX: ORAAF) has successfully initiated production ramp-up at its Borborema Mine in Brazil, with commercial production expected by Q3 2025. The project, completed within budget and schedule in 19 months with zero lost time incidents, represents the company's fifth mining operation and second greenfield project.
The mine boasts impressive economics with an after-tax IRR of 41.8% (unleveraged) and 81.4% (50% leveraged) at $2,600 per gold ounce. The 100% owned open-pit gold mine is projected to produce 748,000 ounces of gold over an 11.3-year mine life, with average production of 83,000 oz annually in the first three years. The 2025 production guidance is set at 33,000-40,000 oz.
Borborema sets an ESG benchmark through innovative practices, including the use of grey water from nearby municipality and renewable energy. The project currently employs 2,184 personnel, with 68% hired from the local community, demonstrating strong commitment to regional development.
AI-generated analysis. Not financial advice.
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News Market Reaction – ORAAF
On the day this news was published, ORAAF declined 0.45%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
ROAD TOWN, British Virgin Islands, March 28, 2025 (GLOBE NEWSWIRE) -- Aura Minerals Inc. (TSX: ORA) (B3: AURA33) (OTCQX: ORAAF) (“Aura” or the “Company”) is pleased to announce that production ramp-up at its Borborema Mine (“Borborema” or “Mine”) has commenced. The mine and plant are currently in operation and the Company expects to achieve commercial production by Q3 2025. Borborema is poised to become a cornerstone asset for Aura, expected to have the second-highest annual production among the Company's five operations currently at production stage, once commercial production is achieved. Aura envisions Borborema to be a strong economic driver and a testament to its strategic growth in Brazil's mining landscape.
Rodrigo Barbosa, President, and CEO, commented, “The start of production at Borborema marks a proud milestone for Aura—our fifth mining operation and second greenfield project, projected to be one of our lowest-cost mines, built on time and on budget in just 19 months with zero lost time incidents. This success showcases our strategy of creating simple, scalable, and efficient projects that are easy to build and run, setting the stage for Aura as a reliable operator and new mine builder. Borborema stands as a global ESG benchmark, driven by innovations like using grey water from the nearby municipality and renewable energy, fully embodying our Aura 360 commitment to responsible operations.”
Mr. Barbosa added, “We are also pleased to highlight the strong economic fundamentals of the Mine, which delivers an after-tax internal rate of return (IRR) of
The
Borborema`s Highlights:
- Annual Production - average of 83,000 Oz. per year for the first 3 years1; Borborema 2025 Production Guidance is between 33,000-40,000 Oz.
- LOM - 11 years, based on existing Proven and Probable Mineral Reserves
- Submitted Approval of the Road Relocation - Relocating the road has the potential to convert significant additional Indicated Mineral Resources (exclusive of current Mineral Reserves) into Mineral Reserves2 (Figure 2).
- Growing Workforce Contributing to Region and Community Development - Borborema employs approximately 2,184 personnel directly and indirectly, with
68% currently hired from the local community with efforts to expand this percentage, encouraging entrepreneurship and regional economic growth. Operators training, focused on local community, was concluded, building a skilled local workforce for the plant operation.
Figure 1: Location of the Borborema Project, Rio Grande do Norte, Brazil
Figure 2: Borborema Project-Mineral Resource Outlines, Feasibility Study Mineral Reserve Optimized Pit Shell and Current Highway
Figure 3: Ball mill
Figure 4: Borborema Overview
Figure 5: Borborema Team
Qualified Person
The scientific and technical information contained in this press release has been reviewed and approved by Farshid Ghazanfari, P.Geo., Geology and Mineral Resources Manager, an employee of Aura and a “qualified person” within the meaning of NI 43-101.
About Aura 360° Mining
Aura is focused on mining in complete terms – thinking holistically about how its business impacts and benefits every one of our stakeholders: our company, our shareholders, our employees, and the countries and communities we serve. We call this 360° Mining.
Aura is a mid-tier gold and copper production company focused on operating and developing gold and base metal projects in the Americas. The Company has 5 operating mines including the Aranzazu copper-gold-silver mine in Mexico, the Apoena, Almas and Borborema gold mines in Brazil, and the Minosa (San Andres) mine in Honduras. The Company’s development projects include Cerro Blanco in Guatemala and Matupá in Brazil. Aura has unmatched exploration potential owning over 630,000 hectares of mineral rights and is currently advancing multiple near-mine and regional targets along with the Carajas (Serra da Estrela) copper project in the prolific Carajás region of Brazil.
For further information, please contact us or follow our updates on our website and social media:
www.auraminerals.com
X: @AuraMineralsNA)
LinkedIn: aura-minerals-inc
Forward-Looking Information
This press release contains “forward-looking information” and “forward-looking statements”, as defined in applicable securities laws (collectively, “forward-looking statements”) which may include, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including the timeline for the commencement of ramp up and for achieving commercial production, as well as the Company’s expectations regarding gold production at Borborema during 2025, besides the Company's expectations regarding the time required to complete the studies and to announce the start of construction of the Matupa Project. Often, but not always, forward-looking statements can be identified by the use of words and phrases such as “plans,” “expects,” “is expected,” “budget,” “scheduled,” “estimates,” “forecasts,” “intends,” “anticipates,” or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved.
Known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s ability to predict, or control could cause actual results to differ materially from those contained in the forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Specific reference is made to the most recent Annual Information Form on file with certain Canadian provincial securities regulatory authorities for a discussion of some of the factors underlying forward-looking statements, which include, without limitation, the ability of the Company to achieve its short-term and longer-term outlook and the anticipated timing and results thereof, the ability to lower costs and increase production, the ability of the Company to successfully achieve business objectives, copper and gold or certain other commodity price volatility, changes in debt and equity markets, the uncertainties involved in interpreting geological data, increases in costs, environmental compliance and changes in environmental legislation and regulation, interest rate and exchange rate fluctuations, general economic conditions and other risks involved in the mineral exploration and development industry. Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect the forward-looking statements.
All forward-looking statements herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements whether as a result of new information or future events or otherwise, except as may be required by law. If the Company does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements.
1 This analysis is not included in the Borborema FS, this is a management simulation with a gold price of US
2 Based on assumptions presented in the Feasibility Study Technical Report (NI 43-101) for the Borborema Gold Project, Currais Novos Municipality, Rio Grande do Norte, Brazil (2023)
Photos accompanying this announcement are available at:
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https://www.globenewswire.com/NewsRoom/AttachmentNg/82e5a891-0545-4c47-b697-2d5c8fd2214a
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Investor Relations ri@auraminerals.com