Aura board approves higher capex for Era Dorada project
Having garnered full board approval for constructing the Era Dorada gold and copper project, in Guatemala, on April 14, Nasdaq-listed Aura Minerals is proceeding with the $382-million project, with operations expected to start in the first half of 2028.
Notably, the company updated the capital expenditure guidance in April to between $262-million and $314-million, up from a prior estimate of between $111-million and $130-million made in February.
The updated amount reflects the full scope of the project, Aura advises, including an advanced water treatment system that will enable delivery of purified, potable water to the local community.
Era Dorada is poised to produce 111 000 oz/y during the first four years of the mine’s planned 17-year life.
Aura president and CEO Rodrigo Barbosa says after more than a year and thousands of hours of dialogue with local communities, authorities and federal regulators, Aura has successfully converted the Era Dorada project to underground mining and garnered approval for additional investments.
“This ensures we not only do no harm but go beyond and create positive value for the communities and the environment,” he adds.
Given that water quality is a key concern for the company, Aura has approved a three-part plan to invest in a water purifying plant, recycle and reuse 100% of the water in its plant processes and collaborate with local government and regulators to develop a plan to treat urban wastewater.
Meanwhile, the company plans to spend between $386-million and $464-million in 2026, which includes sustaining and exploration capital.
Aura has six operating assets in the Americas – the Minosa gold mine, in Honduras; the Almas, Apoena, Borborema and MSG gold mines in Brazil; and the Aranzazu copper, gold and silver mine in Mexico.
The company also owns the Tolda Fria project in Colombia, and three projects under development in Brazil – Matupá, São Francisco and Carajás.
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