Aura on track to meet 2025 gold production targets
Aura Minerals Inc. [ORA-TSX, AURA32-B3] is on track to meet its 2025 production targets after reporting first quarter results from its four operating mines, The company posted total first quarter production of 60,087 gold equivalent ounces (GEO), 9.0% below the fourth quarter of 2024 and a 7.0% decrease compared to the year ago first quarter at constant metal prices.
Aura said it remains on track to achieve its 2025 guidance of 266,000 to 300,000 GEO.
Aura is a mid-tier gold and copper production company focused on operating and developing gold and base metals projects in the Americas. The company now has five operating mines, including the Aranzazu copper-gold-silver mine in Mexico, the Apoena (EPP) and Almas gold mines in Brazil, and the Minosa (San Adres) gold mine in Honduras. The company’s development projects include Borborema and Matupa, both in Brazil.
During the quarter, Aura commenced operations at its fifth mine, Borborema, among the company’s largest and lowest-cost operations. As the mine commenced operations at the end of March, 2025, no production volumes were not recorded in the first quarter. Borberema was completed on schedule, within 19 months, and on budget with a total capex (capital expenditure) of US$188 million. Aura expects to produce between 33,000 and 40,000 ounces from the operation in 2025.
Looking ahead, Borborema is expected to produce 748,000 ounces of gold over an initial 11.3-year mine life from an open pit gold mine, according to a feasibility study, which sees the potential for additional production.
“We started 2025 positively with the investment in Borborema construction was concluded on time and on budget,” said Aura President and CEO Rodrigo Barbosa. “Now, the ramp-up should finish by the third quarter of 2025, and then Borborema will become a key asset for Aura, with one of the company’s largest resource bases and lowest cash costs in our portfolio,’’ he said.
“The first quarter of 2025 went well, aligning with our yearly plan and keeping production on track to meet our goals. This strong start sets us up nicely to meet our yearly targets and boosts confidence in growing and improving operations.’’
At Aranzazu, production reached 20,456 GEO, representing a 10% decrease compared to the first quarter of 2024 at constant prices This reduction was primarily due to a 7.0% drop in ore milled, as a result of mine sequencing and increased scheduled down time.
At Minosa, production reached 17,654 GEO, reflecting an 8.0% decrease in comparison to the previous quarter. Almas and Apoena produced 13,101 GEO and 8,876 GEO respectively in the first quarter.
On Friday , Aura shares were unchanged at $25.31. The shares trade in a 52-week range of $28.36 and $9.95.