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Aura Minerals Inc T.ORA

Alternate Symbol(s):  ORAAF

Aura Minerals Inc. is a mid-tier gold and copper production company. The Company is focused on operating and developing gold and base metal projects in the Americas. It has four operating mines, including the Aranzazu copper-gold-silver mine in Mexico, the Ernesto/Pau-a-Pique Project (EPP) and Almas gold mines in Brazil, and the San Andres gold mine in Honduras. The Company’s development projects include Borborema and Matupa, both in Brazil. It has unmatched exploration potential, owning over 650,000 hectares of mineral rights and focuses on advancing multiple near-mine and regional targets along with the Serra da Estrela copper project in the prolific Carajas region of Brazil. The Company has the right to explore the Pe Quente and Pezao Projects in the State of Mato Grosso, Brazil. The Aranzazu Mine is an underground copper mine that is located within the Municipality of Concepcion del Oro in the State of Zacatecas, Mexico. The San Andres Mine is an open-pit heap leach gold mine.


TSX:ORA - Post by User

Post by upinmuskoka1on Feb 28, 2022 9:12pm
226 Views
Post# 34469668

This can't be good

This can't be good
UPDATE 1-Honduras to cancel environmental permits for mining, ban open pits
2022-02-28 07:26:14 PM ET (Reuters)
   
   

(Adds quote from statement, background)

By Gustavo Palencia

TEGUCIGALPA, Feb 28 (Reuters) - Environmental permits for Honduran metal and non-metal mining will be cancelled, the country's government said in a brief statement on Monday, describing the industry as harmful and declaring it will specifically prohibit open-pit mining.

The statement from the Ministry of Energy, Natural Resources, Environment and Mines added that natural areas with "high ecological value" will be preserved, without going into further detail.

"The approval of permits for extractive exploitation is cancelled due to being harmful to the state of Honduras, threatening natural resources, public health and because they limit access to water as a human right," according to the ministry's statement.

The energy and mining ministry did not immediately respond to a request for clarification on whether the permit cancellations will only affect new projects, or whether the y will also apply to existing ones.

The announcement comes from the barely a month-old government of leftist President Xiomara Castro, who took office in January promising to pull the Central American nation "out of the abyss" caused by failed economic policies and rampant corruption.

Castro's election manifesto released last September pledged to limit mining, prior to her victory at the polls in late November. The manifesto detailed 282 mining concessions doled out by previous governments through 2017, citing the country's geology and mining institute.

Canada's Aura Minerals operates an open-pit mine in western Honduras, where it has encountered stiff local opposition in part due to alleged disturbances to a Maya-Chorti indigenous cemetery.

Last year, the company suspended operations due to what it described as illegal blockades.

Aura Minerals' San Andres mine processed more than 4.4 million tonnes of ore in 2020, producing nearly 61,000 ounces of gold , according to the company's website.

Honduran mining export revenue from silver, zinc and lead projects in the country totalled nearly $130 million last year, according to central bank data, which did not include any revenue from gold shipments. (Reporting by Gustavo Palencia; Writing by Kylie Madry; Editing by David Alire Garcia, Chris Reese and Kenneth Maxwell)


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