Aura Minerals Agrees to Acquire the Mineração Serra Grande Gold Mine in Goiás, Brazil
ROAD TOWN, British Virgin Islands, June 02, 2025 (GLOBE NEWSWIRE) — Aura Minerals Inc. (TSX: ORA, B3: AURA33 and OTCQX: ORAAF) ('Aura' or the 'Company') is pleased to announce that Aura, AngloGold Ashanti plc ('AngloGold') and a wholly owned subsidiary of Aura have entered into a Share Purchase Agreement (the 'SPA') pursuant to which Aura's wholly owned subsidiary will acquire from AngloGold all of the issued and outstanding securities of Mineração Serra Grande S.A. ('MSG'), owner of the Mineração Serra Grande gold mine located in Crixás, in the state of Goiás, Brazil (the 'Transaction').
Transaction Highlights:
The closing of the Transaction is expected to happen by Q3 2025, and no later than Q4 2025.
Rodrigo Barbosa, President and CEO of Aura, stated: 'AngloGold has built a strong reputation for developing and operating world-class mines. Serra Grande, located in one of Brazil's most prominent greenstone belts, has, according to AngloGold, produced over 3 million Oz since 1998 with a peak production of 193,000 Oz in 2006, underscoring its significant potential. As a nimble company with a proven turnaround track record (e.g., Apoena and Aranzazu) and a team with significant previous knowledge of Serra Grande, Aura is well positioned to unlock the mine's potential. Through our disciplined capital allocation, Aura 360 culture, and a targeted exploration program, we believe we can significantly enhance performance, boost production, reduce costs, and extend the Life of Mine at Serra Grande, which could result in Serra Grande becoming a cornerstone of our portfolio.'
ABOUT MSG
MSG is located in the northwest of the state of Goiás, central Brazil about 5km from the city of Crixás. The MSG operation comprises three mechanised underground mines and an open pit, with one dedicated metallurgical plant with an annual capacity of 1.5 Mt.
AngloGold's existing Mineral Resource and Mineral Reserve Report dated as of December 31, 2024, filed on AngloGold's website, disclosed total Measured and Indicated Resource of 10.75 Mt gold, at an average grade of 3.14 g/t gold for 1.08 Moz of gold, along with Inferred Mineral Resource of 12.95 Mt gold at an average grade of 3.39 g/t for 1.4 Moz of gold. Aura considers the reported mineral resources as 'historical estimates' and does not treat such mineral resources as current. A qualified person has not done sufficient work to classify the historical estimates as current mineral resources under 43-101 –
Standard of Disclosure for Mineral Projects
('NI 43-101') or comment on the reliability of the historic resources or what work needs to be done to upgrade or verify the historical estimates as current. In addition, Aura cannot confirm if such classifications are compatible with, or directly comparable to, the requirements of NI 43-101.
According to AngloGold, in 2024, MSG produced 80 kOz of gold (2023: 86 kOz).
Advisers and Counsel
BofA Securities is acting as exclusive financial adviser to Aura, and Demarest Advogados is acting as Brazilian law adviser and Gowling WLG (UK) LLP is acting as English law adviser to Aura.
Qualified Person
The scientific and technical information contained within this news release has been reviewed and approved by Farshid Ghazanfari, P.Geo., a qualified person as defined in NI 43-101.
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 call this 360° Mining.
Aura is a company focused on the development and operation of gold and base metal projects in the Americas. The company's five operating assets include the Minosa gold mine in Honduras; the Almas, Apoena, and Borborema gold mines in Brazil; and the Aranzazu copper, gold, and silver mine in Mexico. Additionally, the company owns Era Dorada, a gold project in Guatemala; Tolda Fria, a gold project in Colombia; and three projects in Brazil: Matupá, which is under development; São Francisco, which is in care and maintenance; and the Carajás copper project in the Carajás region, in the exploration phase.
Forward-Looking Information
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. 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. 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 and all forward-looking statements herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements. Forward-looking statements contained in the press release include, but are not limited to, statements relating to: the completion of the Transaction; timing for the completion of the Transaction; consideration payable under the Transaction; entry into the net smelter returns deferred consideration agreement; completion of the MSG Subsidiaries Transfer; fulfillment of the conditions precedent to the Transaction; enhancing performance, boosting production, reducing costs, and extending the Life of Mine at Serra Grande and the potential for Serra Grande to become a cornerstone of Aura's portfolio. 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.
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The below table sets out the mineral resources previously estimated at New Prosperity: Mineral Resources (effective November 2, 2009 at 0.14% copper cut-off) Metric Tonnes (millions) Copper Grade (%) Gold Grade (g/t) Measured 547 0.27 0.46 Indicated 463 0.21 0.34 Total Measured and Indicated Resources 1,010 0.24 0.41 Additional information regarding data verification, exploration information, known legal, political, environmental or other risks can be found in the Prosperity Technical Report. Due to the uncertainty surrounding the development of the New Prosperity Project and the fact that the Prosperity Technical Report has not been updated since 2009, caution is advised when assessing its conclusions in light of current metal price outlooks, operating and capital costs, appropriate technologies and like matters. No regulatory authority has approved or disapproved of the information contained in this news release Caution Regarding Forward-Looking Information This document contains 'forward-looking statements' that were based on Taseko's expectations, estimates and projections as of the dates as of which those statements were made. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as 'outlook', 'anticipate', 'project', 'target', 'believe', 'estimate', 'expect', 'intend', 'should' and similar expressions. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. These included but are not limited to: uncertainties about the future market price of copper and the other metals that we produce or may seek to produce; changes in general economic conditions, the financial markets, inflation and interest rates and in the demand and market price for our input costs, such as diesel fuel, reagents, steel, concrete, electricity and other forms of energy, mining equipment, and fluctuations in exchange rates, particularly with respect to the value of the U.S. dollar and Canadian dollar, and the continued availability of capital and financing; uncertainties about economic conditions generally including inflation levels, tariffs, and in particular with respect to the demand for copper and other metals we produce; uncertainties related to the accuracy of our estimates of Mineral Resources, production rates and timing of production, future production and future cash and total costs of production and milling; uncertainties related to whether the Tŝilhqot'in Nation will consent to advancement of New Prosperity, whether a new proponent for New Prosperity can be identified, and that the Mineral Resources at New Prosperity will ever be exploited; uncertainties with our ability to monetize our interest in the New Prosperity Project on economic terms or at all; our ability to comply with the extensive governmental regulation to which our business is subject; uncertainties related to our ability to obtain necessary title, licenses and permits for our development projects and project delays due to third party opposition; uncertainties related to First Nations claims and consultation issues; uncertainties related to unexpected judicial or regulatory proceedings; changes in, and the effects of, the laws, regulations and government policies affecting our exploration and development activities and mining operations and mine closure and bonding requirements; environmental issues and liabilities associated with mining; environmental hazards and risks associated with climate change, including the potential for damage to infrastructure and stoppages of operations due to forest fires, flooding, drought, or other natural events in the vicinity of our operations; litigation risks and the inherent uncertainty of litigation; our actual costs of reclamation and mine closure may exceed our current estimates of these liabilities; our ability to meet the financial reclamation security requirements; the capital intensive nature of our business both to sustain current mining operations and to develop any new projects,; our reliance upon key management and operating personnel; the competitive environment in which we operate; the risk of changes in accounting policies and methods we use to report our financial condition, including uncertainties associated with critical accounting assumptions and estimates; and Management Discussion and Analysis ('MD&A'), quarterly reports and material change reports filed with and furnished to securities regulators, and those risks which are discussed under the heading 'Risk Factors'. For further information on Taseko, investors should review the Company's annual Form 40-F filing with the United States Securities and Exchange Commission and home jurisdiction filings that are available at including the 'Risk Factors' included in our Annual Information Form. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
