Aura Minerals Inc. (TSX: ORA) (B3: AURA33) announces that its wholly-owned subsidiary, Aranzazu Holding S.A. de C.V. has recently completed a competitive bidding process for a new offtake agreement with respect to the copper and gold concentrate produced at the Company’s Aranzazu mine. In connection with the completion of the bidding process, Aranzazu has entered into an offtake agreement with Trafigura México, S.A. de C.V. pursuant to which Trafigura has agreed to purchase 100% of the copper and gold concentrate produced at Aranzazu during the term of the New Agreement. The New Agreement is effective as of the beginning of 2022 and continues until the end of 2024. The current offtake agreement in place with IXM Metals will remain in force until the end of 2021.
As result of a strong competitive process and improved market conditions for copper, Aura expects Aranzazu to achieve material savings under the New Agreement, improving gross margins by 4 percentage points compared to the terms of the Existing Agreement.
Rodrigo Barbosa, the Company’s President and CEO noted:
“In 2018 our priority was to restart Aranzazu under a detailed and sustainable production plan. Since we restarted the project last year, we have been investing in geology and exploration in order to increase the life of mine as well, besides optimizing operational efficiencies. As result, we have been able to exceed initial expectations set in the Feasibility Study for certain KPIs, such as recoveries and dilution. Now, we were able to improve the conditions of our offtake agreement, taking advantage of a competitive process and favorable market conditions”.
About Aura 360° Mining
Aura is focused on mining in complete terms – thinking holistically about how its business impacts and benefits every one of our stakeholders: our company, our shareholders, our employees, and the countries and communities we serve. We name it 360° Mining.
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, the Aranzazu copper-gold-silver mine in Mexico and the Gold Road gold mine in the United States. In addition, the Company has two additional gold projects in Brazil, Almas and Matupá, and one gold project in Colombia, Tolda Fria.
FIREWEED ZINC LTD. (TSX-V: FWZ) is pleased to announce the final ... READ MORE
Marathon Gold Corporation (TSX: MOZ) and Miawpukek First Nation... READ MORE
Victoria Gold Corp. (TSX:VGCX) is pleased to announce first quart... READ MORE
Maverix Metals Inc. (NYSE American: MMX) (TSX: MMX) is pleased to... READ MORE
Ascot Resources Ltd (TSX: AOT) (OTCQX: AOTVF) announces the Compa... READ MORE