Canada invests R$ 1,5 billion and comes to Brazil for MEGA gold exploration PROJECT that will generate thousands of job vacancies

Two gold mines in Brazil receive billion-dollar investments from the Canadian company – Aura Minerals. Focused on gold exploration, the Canadian company promises to boost the sector in the country, boosting the local economy by generating new jobs and technological development.

Aura Minerals, a renowned Canadian mining company, announced this week an investment of US$300 million, equivalent to R$ 1,7 billion, in gold exploration in two new mines in Brazil. This mega project promises revolutionize the mining sector in the country, with a mine located in the interior of Rio Grande do Norte and another in the state of Mato Grosso. Operations are scheduled to begin in 2025, generating thousands of job openings and boosting the local economy. This significant investment reinforces Aura Minerals' commitment to sustainable development and technological innovation in the Brazilian mining sector.

Aura Minerals announces investment in Brazilian gold mine

Aura Minerals' mega expansion project for gold exploration in Brazil highlights the company's strategy to expand its presence in the mining sector. The Canadian mining company already operates in the country through subsidiaries Apoena Mining.

Aura Minerals operates Mineração Apoena, located in the municipality of Pontes e Lacerda, which is a gold mine. The São Francisco mine is under the care and maintenance of Aura Minerals.

In addition to activities in Brazil, Aura Minerals has the Aranzazu gold mine in Mexico and the San Andres mine in Honduras. The mining company's headquarters are located in Toronto, Canada, and the company has traded its shares on the Toronto Stock Exchange since 2006.

Investment in gold exploration comes after a drop in exports da empresa

As Aura Minerals prepares to expand its operations with the mega project, the gold export scenario in Brazil showed a significant drop in 2023.

As exports fell from 96,3 tonnes in 2022 to 77,7 tonnes in 2023, the lowest volume since 2017. This reduction is partially linked to the suspension of Anglo Gold Ashanti's activities in Santa Bárbara, Minas Gerais, and new regulations imposed by the federal government .

Since last year, securities distributors (DTVM) have been issuing electronic invoices, making fraud more difficult and increasing transparency in operations. Another important change was the end of the so-called “good faith”, which allowed companies to accept information about the origin of gold without supporting documentation. These measures contributed to the drop in gold exports, impacting the market. 

The new regulations and challenges faced by gold exports bring the prospect of a more regulated and transparent market. Aura Minerals' strategy to expand its operations in gold mines in Brazil demonstrates the company's confidence in the country's potential to overcome these challenges and take advantage of new opportunities.

Impacts of Aura Minerals’ investment in the mega project

The investment announced by Aura Minerals is seen as a positive sign for the gold mining sector in Brazil. Despite recent drops in exports, the start of new gold exploration operations in Brazil is scheduled for 2025.

The expectation is that there will be a resumption in the growth and development of the sector, strengthening Brazil's position as one of the main gold producers in the world.

It is also worth mentioning that the Canadian company announced that Pitágoras Costa, current Corporate Project Manager, will assume the new position of Director of Projects and Construction, also at the corporate level. Henrique Rangel, current Director of Operations at Aranzazu, assumes the role of Technical Services in the Corporate, serving all units, bringing major organizational changes to the company.