Aura Minerals

Last updated
Aura Minerals Inc.
FormerlyBaldwin Consolidated Mines Limited (1946-89), Canadian Baldwin Holdings Limited (1989-2005), Aura Gold (2006-07)
Company type Public
(TSX:  ORA)
Industry Mining
Founded1946
Headquarters,
Key people
Paulo Carlos de Brito, Chair
Rodrigo Barbosa, President and CEO
Products Gold, copper
RevenueUS$ 150 million (2017)
Subsidiaries Minerales de Occidente S.A. de C.V., San Andres (Honduras) Ltd., Apoena Minerals (B.V.I.) Inc., Aranzazú Holding S.A. de C.V.
Website www.auraminerals.com

Aura Minerals Inc. is a Canadian multi-national mining company that owns and operates gold and copper mines in Honduras, Brazil and Mexico. The company is headquartered in the British Virgin Islands, operated from its corporate office in Florida and has its stocks traded on the Toronto Stock Exchange and BDR on the B3. [1] [2]

Contents

Operations

The company's producing assets include the San Andres gold mine in Honduras and the Ernesto/Pau-a-Pique gold mine in Brazil. On July 16, 2018, the company announced the results of the NI 43-101 Feasibility Study for the restart of operations at its Aranzazu mine in Zacatecas, Mexico. In addition, the company has two additional gold exploration projects in Brazil, Almas and Matupá, and one gold project in Colombia, Tolda Fria.

Executives of Aura Minerals

The Corporate Executives

The Chief Executive Officer is currently the Brazilian mechanical engineer Rodrigo Barbosa, The Chief Operating Officer is currently the Brazilian mining engineer, The Chief Finnancial Officer is currently the Brazilian economist Kleber Cardoso.

The Operations Executives

The General Manager for Operations at the Aura Minerals subsidiary Minerales de Occidente S.A. de C.V. or Aura Minosa in Honduras, is the Brazilian engineer Wilton Muricy that has been working on the company since 2021.

The Head for Operations at the Aura Minerals subsidiary Almas, is the Brazilian mining engineer Andréia Nunes that has been working on the company since 2022.

The General Manager for Operations at the Aura Minerals subsidiary Apoena is the Brazilian production engineer that has been working on mining for over 17 years.

The General Manager for Operations at the Aura Minerals subsidiary Aranzazu is the Brazilian metallurgical engineer, that has been working for the company since 2018.

History

Formerly Canadian Baldwin Holdings Limited, the company changed its name to Aura Gold, with former-Yamana Gold CEO Victor Bradley as its new CEO, and listed shares on the Toronto Stock Exchange in 2006 in order to pursue exploration of gold properties in Brazil. [3] In 2016, the company re-located its corporate offices from Toronto to Miami, Florida and, re-incorporated under the BVI Business Companies Act with its headquarters in Road Town, British Virgin Islands.

Mineraçāo Apoena, a subsidiary of Aura, closed the Sāo Vicente gold mine, located in Nova Lacerda, in July 2013. The closure is due to the natural depletion of the mine. The mine started commercial production in 2009 and in the first year of operations produced 49,584 ounces of gold from 2.16 million tons of ore with a 0.43 grams of gold per tonne content.

Aura Minerals reported it 206,747 ounces of gold were produced in 2013, an increase of 20% from the 172,500 in 2012. [4]

The Aranzazu mine, which produces copper in Mexico, had its activities suspended in January 2015. The company said it would spend the first half reviewing the development plans, costs and expenses of the project [5]

In May 2015, Aura Minerals signed an agreement with Serra da Borda Mineraçāo e Metalurgia (SBMM), a subsidiary of Yamana Gold, to acquire the Ernesto / Pau-a-Pique gold mine, located near Pontes e Lacerda, through the issuance of shares, call options and payment of royalties on future production. The operation was approved by the Administrative Council for Economic Defense (CADE) in July 2015.

In March 2018 the company completed a merger with TSX-listed Rio Novo Gold Inc in an all-stock deal with former Rio Novo shareholders forming 22% of the new Aura Minerals. [6]

Related Research Articles

<span class="mw-page-title-main">Newcrest Mining</span> Australian-based mining company

Newcrest Mining Limited is an Australian-based corporation which engages in the exploration, development, mining and sale of gold and the froth flotation product, gold-copper concentrate. It is Australia's leading gold mining company and its operations have expanded beyond Australia, for example Indonesia, thus becoming a prominent international mining corporation. Newmont initially started the company as a subsidiary in 1966. The subsidiary became Newmont Holdings Pty Ltd in 1980 and in 1990 acquired 100 per cent of Australmin Holdings Limited taking the current name.

Goldcorp Inc. was a gold production company headquartered in Vancouver, British Columbia, Canada. The company stood among the largest gold producers in the world, employed about 15,800 people worldwide, engaged in gold mining and related activities including exploration, extraction, processing and reclamation. Goldcorp’s operating assets included eleven mines in North and South America.

Hudbay Minerals Inc. is a diversified Canadian mining company primarily producing copper concentrate and zinc metal. Much of its history has centered on Flin Flon, Manitoba, where it has mined for over 90 years. Hudbay currently has operations in Manitoba and Peru, and is working towards building a copper mine in southern Arizona. The company also has exploration properties in Canada, Peru, Chile and the United States.

Yamana Gold Inc. is a Canadian company that owns and operates gold, silver and copper mines in Canada, Chile, Brazil and Argentina. Headquartered in Toronto, the company was founded in 1994 and became listed on the Toronto Stock Exchange in 1995, the New York Stock Exchange in 2007, and the London Stock Exchange in 2020. The company became a gold producer after its 2003 re-restructuring in which Peter Marrone took over as chief executive officer and it merged with Brazilian company Santa Elina Mines Corporation. The combined company was able to use Yamana's access to capital with Santa Elina development properties to bring the Chapada mine into production. From there the company combined with other TSX-listed companies RNC Gold, Desert Sun Mining, Viceroy Exploration, Northern Orion Resources, Meridian Gold, Osisko Mining and Extorre Gold Mines which each contributed either a producing mine or a development project that was able to come into commercial production. The company was acquired by Pan American Silver in March 2023.

Kinross Gold Corporation is a Canadian-based gold and silver mining company founded in 1993 and headquartered in Toronto, Ontario, Canada. Kinross currently operates six active gold mines, and was ranked fifth of the "10 Top Gold-mining Companies" of 2019 by InvestingNews. The company's mines are located in Brazil, Mauritania, and the United States. It trades under the KGC ticker in the New York Stock Exchange, and under K in the Toronto Stock Exchange.

<span class="mw-page-title-main">Gold mining in the United States</span>

In the United States, gold mining has taken place continually since the discovery of gold at the Reed farm in North Carolina in 1799. The first documented occurrence of gold was in Virginia in 1782. Some minor gold production took place in North Carolina as early as 1793, but created no excitement. The discovery on the Reed farm in 1799 which was identified as gold in 1802 and subsequently mined marked the first commercial production.

<span class="mw-page-title-main">Wiluna Gold Mine</span> Gold mine in Western Australia

The Wiluna Gold Mine is an inactive gold mine in Western Australia near the town of Wiluna. The mine was active from 1984 until its closure in 2007 when it was put into care and maintenance, and again from late 2008 to June 2013 when the owners, APEX Minerals, went into receivership. Following this, the mine had been placed in care and maintenance again in 2013. In January 2014 it was announced that the mine would be sold to Blackham Resources, with the deal to be finalised by March 2014. Mining resumed in 2016 and Blackham was renamed to Wiluna Mining Corporation in 2020. In July 2022, the Wiluna Mining Corporation entered voluntary administration, with mining ceasing in December 2022 and processing in February 2023.

<span class="mw-page-title-main">Mining industry of Ghana</span>

The Mining industry of Ghana accounts for 5% of the country's GDP and minerals make up 37% of total exports. Gold contributes over 90% of the total mineral exports. Thus, the main focus of Ghana's mining and minerals development industry remains focused on gold. Ghana is Africa's largest gold producer, producing 80.5 t in 2008. Ghana is also a major producer of bauxite, manganese and diamonds. Ghana has 20 large-scale mining companies producing gold, diamonds, bauxite and manganese; over 300 registered small scale mining groups; and 90 mine support service companies. Other mineral commodities produced in the country are natural gas, petroleum, salt, and silver.

<span class="mw-page-title-main">EBX Group</span> Brazilian conglomerate

EBX Group was a conglomerate that comprises six companies listed in B3's Novo Mercado, including Dommo Energia, MMX, OSX, and CCX. It was founded by Brazilian businessman Eike Batista, who served as chairman of the conglomerate before his arrest in 2017. The group primarily invested in infrastructure and natural resources, also having initiatives in real estate, technology, entertainment, sports, gold mining, air, and railway catering. The EBX Group was active in nine Brazilian states, Chile, Canada, Colombia, and New York City.

Lundin Mining Corporation is a Canadian company that owns and operates mines in Sweden, United States, Chile, Portugal and Brazil that produce base metals such as copper, zinc, and nickel. Headquartered in Toronto, the company was founded by Adolf Lundin and operated by Lukas Lundin. While it was incorporated to pursue an interest in a diamond mine in Brazil, the company re-structured and raised funds to develop the Storliden mine in Sweden. It purchased the Swedish Zinkgruvan Mine from Rio Tinto and then merged with Arcon International Resources for its Galmoy Mine in Ireland and Eurozinc for its Neves-Corvo mine in Portugal. The company subsequently purchased and operated the Eagle mine, Candelaria mine, and Chapada mine.

The Samira Hill Gold Mine is a gold mine in Téra Department of the Tillabéri Region in Niger. Opened in late 2004, it is the first industrial scale gold mine in the nation, and while operated by a Canadian/Moroccan consortia, the government of Niger owns both a 20% stake in its operation, and functions under government concession. The mine, and the possibility that other gold concessions will follow, is projected to be an important component of future export revenue for the West African state.

The Higginsville Gold Mine is a gold mine located near Higginsville, 45 km north of Norseman, Western Australia.

Franco-Nevada Corporation is a Toronto, Ontario, Canada-based, gold-focused royalty and streaming company with a diversified portfolio of cash-flow producing assets. It is traded on the Toronto Stock Exchange and New York Stock Exchange.

New Gold Inc. is a Canadian mining company that owns and operates the New Afton gold-silver-copper mine in British Columbia and the Rainy River gold-silver mine in Ontario, Canada. Through a Mexican subsidiary company, they also own the Cerro San Pedro gold-silver mine in San Luis Potosí, Mexico, which ceased operation in 2017. While New Gold was founded in 1980 for the purposes of mineral exploration, the company became a mine operator with its merger of Peak Gold and Metallica Resources in 2008. A fourth company, Western Goldfields, joined in 2009. Together they operated the Peak mine in Australia and Mesquite Mine in California but sold both in 2018. Headquartered in Toronto, shares of the company are traded on the Toronto Stock Exchange and NYSE American.

<span class="mw-page-title-main">Thompson Creek Metals</span> Full cycle mining company in North America

Thompson Creek Metals Company Inc. was a full cycle mining company with acquisition, exploration, development, and operation in North America. The corporate office was located in Denver, Colorado. The company primarily produced copper, gold, and molybdenum. Over its history, the Company evolved from being a major primary molybdenum producer to becoming a copper and gold mining company with the construction and development of the Mount Milligan mine and concentrator in British Columbia, Canada. Mount Milligan was Thompson Creek Metals principal operation and the company owned 100% of this property. The company also owned 100% of its Thompson Creek Mine in Idaho. Thompson Creek Metals owned 75% joint venture interest in two other properties, including its Endako Mine in British Columbia, and its Langeloth Metallurgical Facility (roaster) in Pennsylvania. Thompson Creek Metals had additional development projects, including the Berg property in British Columbia.

<span class="mw-page-title-main">El Indio Gold Belt</span>

The El Indio Gold Belt is a mineral-rich region spanning the border between Chile and Argentina that contains large quantities of gold, silver and copper. On both sides of the border the belt is located within the Andes. The El Indio mine within the district was the first modern mine in Chile to produce gold as its main product. In Chile the main precious metal containing mineral is enargite. The El Indio belt is bordered in the north by another gold-silver mining district known as the Frontera District. Rodalquilarite, alunite and poughite are some of the minerals present in the area. The deposits of the belt formed during the Late Miocene period.

Canadian mining in Latin America and the Caribbean began in the 20th century. Latin America and the Caribbean's vast resources give the region great geopolitical importance, attracting foreign interest for centuries. From the colonial race of European empires, to the multinationals of today's neoliberal capitalist world, this region continues to draw interest. Canada's involvement in Latin America increased dramatically since 1989 with several landmark negotiations and agreements. By 2009, the Canadian larger-company mineral exploration market in this region was valued at US$1.7 billion.

<span class="mw-page-title-main">Stan Bharti</span> Canadian businessman founder of Forbes & Manhattan

Stan Bharti is a Canadian businessman. He was the founder of Forbes & Manhattan, a merchant bank with a focus on resource-based sectors.

<span class="mw-page-title-main">Osisko Gold Royalties</span>

Osisko Gold Royalties Ltd is a Canadian company that holds royalties in gold, silver and diamond mines, principally in the form of net smelter returns and streams. The company also invests in mineral exploration companies in the form of purchases of shares. Like its predecessor company, Osisko Mining, it is headquartered in Montreal, Quebec, with shares listed on the Toronto Stock Exchange and the New York Stock Exchange.

El Chanate is a former gold mine in Sonora, Mexico owned by Alamos Gold.

References

[7] [8] [9] [10]

  1. "Aura Minerals Announces 2017 YE Financial and Operating Results". cnbc.com. CNBC.
  2. "Aura Minerals Files Second Quarter 2018 Financial and Operational Results". markets.businessinsider.com. Business Insider.
  3. Kirwin, Susan (December 29, 2006). "Aura Gold follows trail of Brazil's garimpeiros". The Northern Miner. p. 10.
  4. "BNamericas - Aura Minerals 2013 gold production up 20%". BNamericas.com. Retrieved 2021-10-10.
  5. "Aura Minerals Inc. - Operations - Aranzazu". www.auraminerals.com. Archived from the original on 2018-11-10. Retrieved 2018-11-09.
  6. "Aura Minerals Inc. and Rio Novo Gold Inc. Announce Closing of Previously Announced Merger" (Press release). Globe Newswire. March 2, 2018.
  7. "News Details:Yamana Acquires Shares of Aura Minerals". yamana.com. Yamana Gold.
  8. "Protesters force Aura Minerals to suspend operations in Honduras". mining.com.
  9. "Aura Minerals suspends mining at Aranzazu". northernminer.com. The Northern Miner.
  10. "Aura Minerals Announces US$22.5 Million Gold Loan". marketwired.com. Marketwired.