Mining – Aura Minerals Plans To Invest US$ 94.6 Million In Gold Mine In Mato Grosso

Written by Roberta Souza

Published on 08/11/2021 at 14:48

Aura Minerals/ Fonte: 1 Bilhão Educação Financeira

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The Matupá Gold Mining Project By Aura Minerals Aims to Reach an Annual Gold Production of More Than 60,000 Ounces in Three Years

This morning (11/08), the mining company Aura Minerals presented the results of the preliminary economic assessment (PEA) of its Matupá Gold Project subsidiary, located in the municipality of Matupá in the state of Mato Grosso. According to the company, the gold mining project may require total implementation investments (Capex) of approximately US$ 94.6 million. Also read this news: Cedro Mining Plans to Invest R$ 1 Billion in Projects in the State of Minas Gerais

New Expectations for the Gold Mining Project in Mato Grosso

Over the first three years of the gold mining project, Aura Minerals expects to achieve an average annual gold production of more than 60,000 ounces and an Average Total Sustaining Cost of US$ 591.4 per ounce. Regarding the estimated initial mine life of seven years, the average annual gold production is expected to be 42,700 ounces of gold, with an AISC of US$ 765 per ounce.

Rodrigo Barbosa, CEO of Aura Minerals, comments on the mining project: “It is estimated that Matupá has 317,970 ounces of measured and indicated mineral resources of gold, which we expect to increase in the future with ongoing investments in exploration. Nevertheless, the economics of the project at its current size, with a payback period of just 2.1 years and attractive IRR and NPV, already justifies starting construction as soon as possible while we work to expand the resources and reserves in the coming years, which should further improve returns and the project’s NPV. Matupá will be an open-pit mine that is easy to operate, in a gold jurisdiction expected to be in the first quartile of cash costs. Our strategy is to start simply and work positively as we generate cash with its operation.”

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About the Matupá Gold Project

Wholly owned by Aura Minerals, the mining project is located near the town of Guarantã do Norte in the state of Mato Grosso. The property was acquired through the merger with Rio Novo in 2018 and consists of 18 mining licenses located in the municipality of Alta Floresta.

Since the acquisition of the gold mining project in Mato Grosso, the company has been evaluating strategies focused on reducing Capex and optimizing cash flows for the first years of operation, aiming at reducing project risks and improving its returns. “This is an open-pit mine, easy to operate, that should be within the first quartile of cash costs in the sector. Our strategy is to start simply and work on potential improvements as we generate operational cash,” said Aura’s CEO.

Also Read: Funding of R$ 1.5 Billion Approved for the Largest Mining Project in Mato Grosso. About 2,350 Jobs Will Be Created

The largest mining project in the state of Mato Grosso has received investments approved by Sudeco (Superintendência do Desenvolvimento do Centro-Oeste) last week, through the Fund for the Development of the Midwest (FDCO), benefiting Nexa, formerly Votoratim. The investment will be used for the implementation of a project to expand the productive capacity of the mine in the town of Aripuanã, generating many jobs for the region.

The mining company’s plans foresee the exploration and processing of zinc, lead, and copper in Serra do Expedito, in the state of Mato Grosso, which, through the Fund for the Development of the Midwest (FDCO), will guarantee the miner 7.5% of the total value of the project, which is in the implementation phase, with operations expected to start in 2022.

Mining – Aura Minerals Plans To Invest US$ 94.6 Million In Gold Mine In Mato Grosso

The Matupá Gold Mining Project By Aura Minerals Aims to Reach an Annual Gold Production of More Than 60,000 Ounces in Three Years

New Expectations for the Gold Mining Project in Mato Grosso

About the Matupá Gold Project

Also Read: Funding of R$ 1.5 Billion Approved for the Largest Mining Project in Mato Grosso. About 2,350 Jobs Will Be Created

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Mining – Aura Minerals Plans To Invest US$ 94.6 Million In Gold Mine In Mato Grosso

The Matupá Gold Mining Project By Aura Minerals Aims to Reach an Annual Gold Production of More Than 60,000 Ounces in Three Years

New Expectations for the Gold Mining Project in Mato Grosso

About the Matupá Gold Project

Also Read: Funding of R$ 1.5 Billion Approved for the Largest Mining Project in Mato Grosso. About 2,350 Jobs Will Be Created

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