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ROAD TOWN, British Virgin Islands, Dec. 12, 2018 (GLOBE NEWSWIRE) -- Aura Minerals Inc. (TSX: ORA) is pleased to announce that the Aranzazu mine, located in Zacatecas, Mexico, has declared commercial production effective December 10, 2018.
Rodrigo Barbosa, the Company's President and CEO noted, "Commercial production is a significant milestone for our team that has delivered ahead of schedule and below budget. Our team has great experience and motivation to continue to deliver these kinds of results and I want to personally thank all of our team for their hard work.
To optimize the restart, we opted for a shorter life of mine, however, we are very excited about Aranzazu's future and expect the life of mine to be considerably extended after we implement the new geological investment strategy in 2019. We expect concentrate from Aranzazu to significantly add to the Company's EBITDA for a long time."
The Company continues to further progress on the underground mine development and operational improvements to the plant in order to reach full production. Construction of the new tailings disposal facility (TD5) is close to completion while the operation continues to store tailings in the historic TD1 and TD2 dams, which have sufficient capacity to support the operational activities for the next months.
The foregoing technical information contained in this news release has also been reviewed and verified by Fernando A. Cornejo, P.Eng., VP Projects and Technical Services (PTS) and a Qualified Person for the purpose of National Instrument 43-101.
About Aura 360° Mining
Aura is focused on mining in complete terms - thinking holistically about how our 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 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 (operations currently suspended), the Ernesto/Pau-a-Pique gold mine in Brazil and the Aranzazu copper-gold-silver mine in Mexico. The Company continues to explore options at Sao Francisco to determine if a re-start of the mine is feasible. In addition, the Company has two additional gold projects in Brazil, Almas and Matupá, and one gold project in Colombia, Tolda Fria.
For further information on Aura, please visit Aura's web site at www.auraminerals.com or contact:
VP, Legal Affairs and Business Development