Aura Minerals Exceeds 2024 Production Targets, Shares Rise 5%

Aura Minerals has successfully met and exceeded its annual production guidance for 2024, achieving a total production of 267,232 GEO (Gold Equivalent Ounces).

This represents a 13% increase compared to 2023 at current prices and an 18% increase at constant prices. It also surpasses the midpoint of its 2024 guidance range of 244,000 to 292,000 GEO.

Fourth quarter production reached 66,473 GEO, showing stability despite being 1% below Q3 2024. The Almas mine set a new production record with an 11% increase compared to Q3 2024.

Aranzazu demonstrated stable performance, closing 2024 with 97,558 GEO. Meanwhile, Minosa maintained consistent production above 19,000 ounces throughout the year, despite a 7% decrease from Q3 due to rainfall.

The market responded positively to these results, with Aura’s BDRs (AURA33) rising 5.23% on the B3 exchange to R$24.94, while its ORA shares on the Toronto Stock Exchange advanced 3.47%.

CEO Rodrigo Barbosa emphasized that 2024 demonstrated lower production volatility, aligning with the company’s long-term strategy.

Looking ahead, Aura expects to secure licenses for the Nosde pit expansion at Apoena in early 2025, addressing previous delays that affected access to higher-grade zones.

The company’s strong performance in 2024, supported by favorable gold market conditions, positions it for continued growth. This growth is expected to occur within the mining sector.

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error

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