Aura Minerals Announces an Update at the Aranzazu Mine
ROAD TOWN, British Virgin Islands, Sept. 10, 2018 (GLOBE NEWSWIRE) -- Aura Minerals Inc. (TSX:ORA) further to the Company’s press release dated September 7, 2018, the Company is pleased to announce an update on the current status of the re-start of Aranzazu.
The Company has made considerable progress at Aranzazu during the pre-commissioning and commissioning phases of the re-opening over the last months and has now entered into its start-up phase. The Company expects the Aranzazu mine to achieve commercial production later this year and to achieve the average processing of 2,600 tpd shortly thereafter.
The Company has now obtained all the necessary permits and initiated the construction of the new tailings disposal system (TD5) while temporary disposal of tailings takes place in one of the historic dams (TD1/2).
Rodrigo Barbosa, the Company’s President & CEO commented, “In addition to making considerable progress on the underground mine development and plant during the last few months, the Company has focused on developing and implementing a new management standards and procedures for Community, Safety and Employees to ensure a safe re-opening, high performance and a respectful management team’s culture going forward. Finally, Aranzazu offers interesting exploration upside that should be drilled and analyzed during 2019/20.”
About Aura Minerals
Aura 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 producing assets include the San Andres gold mine in Honduras, the Ernesto/Pau-a-Pique gold mine. in Brazil and the Aranzazu copper-gold-silver mine in Mexico. The Company has completed an exploration program at its Sao Francisco gold mine in Brazil to determine if a re-start of the mine is feasible. In addition, the Company has two additional gold projects in Brazil, Almas and Matupá, and one gold project in Colombia, Tolda Fria.
Aura Minerals is focused on responsible, sustainable growth and strives to operate to the highest environmental and safety standards and in a socially responsible manner at all of its operations.
For further information, please visit Aura’s web site at www.auraminerals.com, or: contact Aura at:
VP, Legal Affairs and Business Development
This press release contains "forward-looking information" and "forward-looking statements", as defined in applicable securities laws (collectively, "forward-looking statements") which may include, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, expected financial results at Aranzazu and commercial production and drill programs. Often, but not always, forward-looking statements can be identified by the use of words and phrases such as "plans," "expects," "is expected," "budget," "scheduled," "estimates," "forecasts," "intends," "anticipates," or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may," "could," "would," "might" or "will" be taken, occur or be achieved.
Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements in this news release are based upon, without limitation, the following estimates and assumptions: the presence of and continuity of metals at Aranzazu at modeled grades; the capacities of various machinery and equipment; the availability of personnel, machinery and equipment at estimated prices; exchange rates; metals and minerals sales prices; appropriate discount rates; tax rates and royalty rates applicable to the mining operations; cash costs; anticipated mining losses and dilution; metals recovery rates, reasonable contingency requirements; political stability in Mexico; future negotiations with unions; and receipt of regulatory approvals on acceptable terms.
Known and unknown risks, uncertainties and other factors, many of which are beyond the Company's ability to predict or control could cause actual results to differ materially from those contained in the forward-looking statements. Specific reference is made to the most recent Annual Information Form on file with certain Canadian provincial securities regulatory authorities for a discussion of some of the factors underlying forward-looking statements, which include, without limitation, copper and gold or certain other commodity price volatility, changes in debt and equity markets, the uncertainties involved in interpreting geological data, increases in costs, environmental compliance and changes in environmental legislation and regulation, interest rate and exchange rate fluctuations, general economic conditions and other risks involved in the mineral exploration and development industry. Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect the forward-looking statements.
All forward-looking statements herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements whether as a result of new information or future events or otherwise, except as may be required by law. If the Company does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements.