Aura Minerals is a Canadian-based company focused on the exploration, development and operation of gold and base metal projects in the Americas. Aura Minerals’ portfolio includes four producing mines; the San Andres gold mine located in La Union, Honduras, the Sao Francisco and Sao Vicente gold mines, located in northwestern Brazil and the copper-gold-silver Aranzazu mine, located in Mexico, which announced commercial production on February 1, 2011.
Aura Minerals’ portfolio also includes the copper-gold-iron ore Serrote de Laje project (formerly, Arapiraca project), located in Alagoas State, Brazil. On July 12, 2011, Aura Minerals announced the commencement of a definitive feasibility study on the advanced-stage deposit at the Serrote project. The feasibility study is scheduled for completion late in the first quarter of 2012.
The feasibility study will focus on developing the deposit as an open pit mine that will supply ore to a concentrator at a rate of 12 million tonnes per year, producing copper in concentrate with gold credits, as well as an iron in magnetite concentrate. With all critical permits inplace, and with the excellent infrastructure in the vicinity of the project, the Company expects to commence negotiations for project financing and development during 2012, with a construction decision to follow later that year.
Moving forward, Aura Minerals will continue to engage in strategic activities that demonstrate the Company’s commitment to responsible and sustainable growth. The Company’s focused growth strategy is underpinned by a targeted production platform of gold from its three gold mines (targeted 2011 gold production totaling 160,000 to 169,000 ounces), strengthened by copper, gold and silver production from the Aranzazu mine (targeted 2011 production of 7 to 8 million pounds of copper, 5,000 to 6,000 ounces of gold, and 110,000 to 120,000 ounces of silver). Aura Minerals’ experienced management team and attractive portfolio of diversified projects will continue to solidify the Company’s position as a mid-tier gold-copper producer.