Aura Provides Update on Contractor Arrangements at San Andres Gold Mine
ROAD TOWN, British Virgin Islands, Dec. 04, 2019 (GLOBE NEWSWIRE) -- Aura Minerals Inc. (“Aura” or the “Company”) (TSX:ORA) announced today that on November 25, 2019, in compliance with a court order, local authorities seized the equipment of Incobe, the main contractor at the Company’s San Andres mine in Honduras. Minerales de Occidente, S.A. de C.V. (“Minosa”), a wholly-owned subsidiary of Aura, owns the surface and mineral rights at the San Andres mine.
On December 3, 2019, Minosa was officially notified of the seizure by such authorities. The reasons for the seizure of Incobe’s equipment are wholly unrelated to Aura or Incobe’s work at the San Andres mine.
Also on December 3, 2019, Minosa signed a Memorandum of Understanding with Constructora Cordon’s Heavy Equipment S. de R.L., a major company in Honduras, which is mobilizing equipment to gradually resume production at the San Andres mine, which the Company expects to occur starting on Friday, December 6, 2019.
Aura believes these events will not have a material impact on its overall financial performance and will continue to monitor the situation and provide updates to the market as the matter develops.
Aura reminds investors that, based on its code of conduct, the Company and its subsidiaries do not seek, encourage or tolerate favors or special arrangements with suppliers or clients that may be seen as harmful, unfair, or unrestricted traders.
Forward-Looking Information
This press release contains “forward-looking information” and “forward-looking statements”, as defined in applicable securities laws (collectively, “forward-looking statements”) which include, but are not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, the impact of the interruption on the San Andres mine and Aura’s production and financial performance.
Known and unknown risks, uncertainties, and other factors, many of which are beyond the Company’s ability to predict or control, could cause actual results to differ materially from those contained in the forward-looking statements. Specific reference is made to the most recent Annual Information Form on file with certain Canadian provincial securities regulatory authorities for a discussion of some of the factors underlying forward-looking statements.
All forward-looking statements herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements whether as a result of new information or future events or otherwise, except as may be required by law. If the Company does update one or more future-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements.
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, the Ernesto/Pau-a-Pique gold mine in Brazil, and the Aranzazu copper-gold-silver mine in Mexico. 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:
Rodrigo Barbosa
President & CEO
305-239-9332
Email: info@auraminerals.com Website: www.auraminerals.com
