Aura Minerals Inc is a multinational mining company engaged in the acquisition, exploration, development and operating of gold and base metal mines.
The mining company was founded in 1946 as Aura Gold Inc. However, in 2007, it changed its name to Aura Minerals Inc and retained the trading symbol 'ORA' on the Toronto Stock Exchange.
The company has various operating and development stage projects across the Americas, including:
• Ernesto/Pau-a-Pique gold mine
• Gold Road
• San Andres Mine
• Tolda Fria
• Sao Franciso
The mining operations majorly produce silver, gold and copper minerals.
The Canadian company also operates a gold project in Colombia, Tolda Fria and two Brazil-based gold projects.
Pau-a-Pique gold mine, located in Mato Grosso, is an open-pit underground mine. In 2020, it reportedly produced 71,643 ounces of gold. The complex consists of Japones, Ernesto Rio Alegre and Lavrinha open-pit mines. In addition, two exploration and development stage deposits, Japones and NOSDE, are also located nearby.
The Honduras-based San Andres Mine is wholly-owned by the firm. The mine has been operational since the 1930s. The complex produced 60,769 ounces of gold with 4,418,347 ore mined tons in 2020. The mining firm owned the property in 2009, which is an open-pit, underground complex.
Aura Minerals also has a 100 per cent stake in the Almas project, located in the State of Tocantins, Brazil. The project consists of three separate open-pit gold deposits: Cata Funda, Vira Saia and Paiol. In addition, it also consists of a central processing facility located in the greenstone belt with various orogenic gold occurrences.
The company is presently re-evaluating the Almas project, which Rio Novo originally conceived.
The mining activities on this project initiated with mining of Pailol pit followed by Vira Saia and Cata Funda pits.
Another Brazil-based operation, Sao Francisco Gold Mine, is an open-pit heap-leach mine 100 per cent owned by Aura Minerals.
Auro Minerals Inc claims that it suspended its operations in October 2016 due to a lack of reserves and high costs. The mining firm is conducting an exploration program at the mine to determine whether restarting of mine is feasible or not, reportedly.
Tolda Fria Gold Project is located in the southeast of Manizales, Columbia. The project acquired the property through the merger of Rio Nova in 2018. The property consists of high-grade mineralization in 14-kilometer infrastructure.
The company claims to protect the environment and boost employment opportunities at host locations.