Aura Minerals Inc Dossier
Qualitative Analysis
Business overview
Aura Minerals Inc. (NASDAQ: AUGO, B3: AURA33) is a mid-tier gold and copper production company focused on the development and operation of gold and base metal projects in the Americas. The company's operating portfolio includes the San Andres (Minosa) gold mine in Honduras, the Aranzazu copper-gold-silver mine in Mexico, and several Brazilian assets: the Ernesto/Pau-a-Pique (Apoena) complex, the Almas gold mine, the newly commissioned Borborema gold mine, and the recently acquired Serra Grande (MSG) gold mine. Aura's growth pipeline is anchored by the Matupá project in Brazil and the Era Dorada (formerly Cerro Blanco) project in Guatemala. The company operates under its proprietary 'Aura 360' mining culture, which integrates operational excellence with strict environmental, social, and governance standards.
Research as of 19 Jun 2026
Strategic Initiatives
Growth programs, investments, and their expected impact
Developing the Era Dorada gold project (formerly Cerro Blanco) in Guatemala into an active mining operation.
Expected impact: Anticipated to produce an average of 111,000 GEO annually during the first four years of full production.
Ramping up production and expanding mineral reserves at the Borborema gold project in Brazil.
Expected impact: Increased mineral reserves by 82% to 1.5 million ounces, extending the mine life to 20.5 years with an estimated average annual production of 65,000 ounces.
Mergers, Acquisitions & Partnerships
Recent deals and strategic collaborations
Recent Acquisitions
To acquire the Cerro Blanco gold project (now Era Dorada) in Guatemala, adding a high-grade asset with significant production potential to Aura's pipeline.
Financial impact: Aura paid approximately C$26.25 million in cash, issued 1,007,186 Aura shares, and issued 146,519,452 contingent value rights (CVRs).
To acquire the Serra Grande gold mine in Goiás, Brazil, from AngloGold Ashanti, supporting Aura's diversification and production growth strategy.
Financial impact: Aura paid an upfront cash consideration of US$72.8 million on closing (based on an agreed Enterprise Value of US$76 million) plus a 3% net smelter returns (NSR) royalty on future production.
Strategic Partnerships
Formed to jointly own and develop the Borborema gold project in Brazil, leveraging Dundee's financial backing and technical expertise.
Terms: Aura holds an 80% interest and Dundee Resources holds the remaining 20% interest.