Aura Minerals secures $200M loan for Americas growth
Aura operates four gold mines in Brazil, the Minosa gold mine in Honduras and the Aranzazu copper-gold-silver mine in Mexico.
Aura Minerals (AUGO) secured a $200-million loan to support its expansion plans in the Americas. The gold miner is working towards producing more than 600,000 gold-equivalent ounces annually, up from 313,000 ounces produced in the previous year. The five-year loan, with an interest rate of 3.62% plus 2.7%, has a two-year grace period.
Citi and Itaú BBA served as lead arrangers and bookrunners, with proceeds allocated to supplier payments, prepayment of production and selling costs. President and CEO Rodrigo Barbosa stated that the transaction diversifies funding sources and supports the current phase of value creation for shareholders. The loan will fund construction of the Era Dorada project in Guatemala and capacity expansions at Almas and Borborema in Brazil, as well as improvements across Aura's six operating mines.
Era Dorada is currently under construction and is expected to start operations in the first half of 2028. Aura aims to reach its 600,000-oz. annual target in the coming years.
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