Aura Minerals

What Aura Minerals does

Aura Minerals is a Toronto-headquartered, Canadian-domiciled mining company that develops and operates gold, copper, and silver projects across the Americas. Following its July 2025 Nasdaq IPO (ticker AUGO; also listed on TSX as ORA and B3 as AURA33), Aura operates six producing mines — Serra Grande (MSG), Almas, Apoena/EPP, and Borborema in Brazil, Aranzazu in Mexico, and Minosa/San Andrés in Honduras — together producing 280,414 gold equivalent ounces (GEO) in FY2025 with 2026 guidance of 360,000–390,000 GEO and a long-term target above 600,000 GEO. The technology stack spans conventional open-pit and underground mining methods, with processing through Carbon-in-Leach (CIL) for gold, flotation for copper-gold-silver concentration, and heap leaching. Notable technical features include AI-driven process automation and an Integrated Operations Center at Aranzazu, a 100% water reuse system at Borborema, and the Inova employee innovation program. Aura holds ISO 14001, ISO 45001, RGMP, CFGS, and UN Global Compact certifications.

The business model is commodity-driven: gold, copper, and silver are sold at prevailing market prices through commodity trading channels, smelters, and refineries, with no public product pricing. Revenue grew 55% YoY to $921.7M in FY2025, with Adjusted EBITDA more than doubling to $547.8M. Growth runs on three pillars — greenfield project development (Era Dorada, Matupá), resource growth through exploration (Carajás, Borborema reserve expansion), and M&A (Bluestone/Era Dorada and Serra Grande acquisitions totaling ~$147M in 2025). Development project CAPEX includes $382M for Era Dorada and $188M for Borborema, funded through IPO proceeds, royalty financing (Gold Royalty Corp), and operating cash flow. Customer base is the global commodity market rather than named end customers, making revenue primarily a function of production volumes and London Bullion Market / LME prices for gold, copper, and silver.

Name

Aura Minerals

Legal name

Aura Minerals Inc.

Website

http://auraminerals.com/

Company type

Public

Founded year

1946

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Aura Minerals is a Canadian-listed gold and copper miner operating six producing mines across Brazil, Mexico, Honduras, and Guatemala. It sells commodity metals into global trading channels and is growing production from 280,000 GEO in FY2025 toward a 600,000+ GEO long-term target.

Ownership category

akta.pro rank

Product category

Gold and Copper Mining

NAICS

Copper, Nickel, Lead, and Zinc Mining (212230)

SIC

Gold And Silver Ores (1040)

akta.pro primary industry

Gold Mining (IMAKAEAA)

Keywords

• Gold mining operations
• Copper mining production
• Precious metals extraction
• Mineral resource development
• Mining project development

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices12 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Gold Production and Sales: Primary revenue stream from gold mining operations across multiple producing mines in Brazil, Honduras, and Mexico. The company produces gold equivalent ounces (GEO) that are sold at market prices through commodity trading channels.
2. Copper and Silver Production: Secondary revenue from copper and silver by-products at the Aranzazu mine in Mexico. Copper and silver are produced as concentrates and sold to smelters and commodity traders.
3. Development Project Revenues: Future revenue from development projects including Borborema (now in production), Era Dorada (construction approved, operations expected H1 2028), Matupá, and other growth projects.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels4 records

Core offering

Aura Minerals is a mining company that operates, develops, and acquires gold, copper, and base metals mining projects across the Americas. The company produces gold equivalent ounces (GEO) from a portfolio of six operating mines in Brazil, Honduras, and Mexico, with growth projects including Era Dorada in Guatemala and Matupá in Brazil, plus exploration projects in Brazil and Colombia. Gold, copper, and silver are sold directly to commodity markets through established trading channels, smelters, and refineries at prevailing market prices.

Product overview

Aura Minerals is a gold and copper mining company operating across the Americas with a portfolio of producing mines and development projects. The company's operating portfolio includes six producing assets: Serra Grande (MSG) in Brazil, Aranzazu in Mexico, Borborema in Brazil, Almas in Brazil, Minosa/San Andrés in Honduras, and Apoena (EPP) in Brazil. Growth projects include Matupá and Era Dorada (underground mine in Guatemala), while exploration projects include Carajás in Brazil and Tolda Fría in Colombia. The company processes ore through CIL (carbon-in-leach), heap leaching, and flotation methods depending on the deposit characteristics. Production totaled approximately 280,414 gold equivalent ounces in FY2025.

Differentiator

Problem solved

Functional benefit

Products and services

• Serra Grande (MSG) Mine Underground and open-pit gold mine in northwestern Goiás, Brazil, approximately 5 km from Crixás. Operations include three mechanized underground mines and one open-pit mine with a dedicated metallurgical plant with 1.5 Mt annual capacity.
• Aranzazu Mine Underground copper-gold-silver mine in Zacatecas, Mexico, in the Concepción del Oro mining district. Produces copper concentrate with gold and silver as by-products using conventional crushing, grinding, flotation and filtering processes; AI-driven automation deployed for process optimization.
• Borborema Mine Open-pit gold mine in Rio Grande do Norte, Brazil, in the Seridó region. Uses Carbon-in-Leach (CIL) processing with 92.1% gold recovery rates and 100% water reuse from treated municipal wastewater sources.
• Almas Mine Open-pit gold mine in Tocantins, Brazil, utilizing CIL processing. Located in the Almas Greenstone Belt, one of the largest and least explored greenstone belts in Brazil.
• Minosa (San Andrés) Mine Open-pit heap-leach gold mine in Copán, Honduras. In commercial operation since the 1930s with modern mining beginning in 1983. Produces 5-7 Mtpa of ore with CIC recovery in an ADR plant.
• Apoena (EPP Complex) Mine Gold complex in Mato Grosso, Brazil consisting of three open-pit mines and one underground mine (Pau-a-Pique). Processes ore through a CIL carbon-in-leach plant with 220 tph capacity.
• Matupá Gold Project Open-pit gold growth project in Mato Grosso, Brazil with CIL processing. Feasibility study projects average annual production of 55,000 oz gold over first four years at $529/oz cash cost; initial CAPEX estimated at $107 million.
• Era Dorada Gold Project Underground gold growth project in Jutiapa, Guatemala, acquired from Bluestone Resources in January 2025. Feasibility study projects 111,000 oz/year gold production for first four years with 17-year mine life and potential yield of 2.7 million ounces over 14 years.
• Carajás Exploration Project Exploration project in Pará, Brazil with license covering 9,805 hectares and multiple IOCG (iron-oxide-copper-gold) targets along a 6 km strike. Exploration drilling of approximately 22,000 meters completed in 65 diamond drill holes.
• Tolda Fría Exploration Project Exploration project in Caldas, Colombia, currently under care and maintenance. Located 10 km southeast of Manizales, containing significant high-grade mineralization and 14 km of underground development.

Quantifiable outcome

• Production of 280,414 GEO in FY 2025, up 5% YoY
• +5 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature4 records

Partnerships

Four partnerships are on record, tiered core.

• DNIT (Departamento Nacional de Infraestrutura de Transportes)coreStrategic or Co-development Partner · 26 February 2026Brazil's federal transportation authority signed cooperation agreement to relocate a federal road crossing the Borborema gold mine. This infrastructure partnership unlocked approximately 670,000 additional ounces of gold reserves (82% increase) and extended mine life from 11.3 to 20.5 years.
• AngloGold AshanticoreStrategic or Co-development Partner · 1 December 2025Aura acquired the Mineração Serra Grande (MSG) gold mine in Goiás, Brazil from AngloGold Ashanti for $72.8 million plus deferred payments. The mine has historically produced over 3 million ounces of gold since 1998.
• CAERN (Companhia de Águas e Alcantarillado de Rio Grande do Norte)coreStrategic or Co-development Partner · 1 January 2025Public-private partnership where Aura captures municipal wastewater from Currais Novos for treatment and reuse in Borborema mining operations. The $45 million wastewater treatment plant enables 100% water reuse, eliminating freshwater consumption while providing sanitation services to the local community.
• Bluestone ResourcescoreStrategic or Co-development Partner · 1 January 2025Aura acquired Bluestone Resources for $74 million in January 2025, gaining full interest in the Cerro Blanco/Era Dorada gold project in Guatemala. The project has potential yield of 2.7 million ounces of gold over 14 years.

Scale indicators9 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Equinox Gold: Canadian mid-tier gold producer with producing mines in Mexico, Brazil, and the United States, plus growth projects in Canada. Closely comparable to Aura in size, Americas geographic footprint, multi-asset portfolio, and growth-via-M&A strategy.
• Alamos Gold: Mid-tier gold producer with major operations in Mexico (Mulatos, Los Mulatos) and Turkey, plus development in Canada and the US. Comparable to Aura on size, multi-jurisdictional Latin American exposure, and intermediate gold production profile.
• IAMGOLD: Canadian mid-tier gold producer with operating mines in Canada and Burkina Faso plus development in West Africa and South America. Comparable to Aura on size, Americas/Africa diversification, and pipeline of development projects.
• Torex Gold Resources: Mid-tier gold producer whose flagship ELG mine is in Mexico (Guerrero), with development-stage Media Luna project. Comparable to Aura on geographic overlap in Mexico and underground mining profile similar to Aranzazu.
• B2Gold: Mid-tier gold producer with operating mines in Mali, Namibia, and the Philippines plus the Goose project in Canada. Comparable to Aura on size, multi-country producer model, and growth pipeline of construction-stage assets.
• Eldorado Gold: Mid-tier gold producer with operating mines in Greece and Turkey plus development in Canada. Comparable to Aura on size, multi-jurisdictional mid-tier producer model, and combination of producing and development assets.
• New Gold: Mid-tier gold producer operating Rainy River in Ontario and New Afton in British Columbia. Comparable to Aura on scale and mid-tier positioning, though with a more Canada-centric footprint.
• Centerra Gold: Canadian mid-tier gold producer with the Mount Milligan copper-gold mine in British Columbia and the Öksüt gold mine in Turkey. Comparable to Aura on diversified gold-copper production profile and similar mid-cap size.

Broad incumbents

• Kinross Gold: Larger established gold miner with operations across the Americas and West Africa. Comparable to Aura on gold-copper product mix and Americas presence, but larger and more diversified than Aura's current portfolio.
• AngloGold Ashanti: Global gold producer with operations across Africa, the Americas, and Australia. Directly comparable to Aura as the prior owner of the MSG mine acquired by Aura in December 2025; larger and more diversified than Aura.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/AuraMineralsNA
• LinkedInlinkedin.com/company/aura-minerals-inc

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries4 records

Funding overview

Funding rounds3 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Aura Minerals