Aura Minerals Secures $200 Million Loan to Double Gold Output in the Americas

Aura Minerals has secured a $200 million syndicated loan to finance the construction of its Era Dorada project in Guatemala and strengthen its production capabilities across the Americas, according to a company statement released September 18.

The five-year facility, arranged by Citi and Itaú BBA, marks a significant step in Aura’s strategy to nearly double its annual gold-equivalent production to over 600,000 ounces, up from 313,000 ounces in the twelve months through June. The loan carries an interest rate of Secured Overnight Financing Rate (SOFR) plus 2.7%, with a two-year grace period, and will be used for supplier payments and the prepayment of production and selling costs.

The company plans to allocate the majority of the funds to the Era Dorada project, which has an estimated capital cost of $382 million and is expected to deliver average annual production of 111,000 ounces over its first four years. Aura approved Era Dorada’s construction in April, underlining its commitment to expanding its asset base in Latin America.

The new debt package comes as Aura posts robust financials, with $248.3 million in cash and $175.1 million in recurring free cash flow during the first half of the year. As of June 30, gross debt stood at $441.2 million. The company’s revised capital spending guidance for 2026 is set between $386 million and $463 million.

Aura operates four gold mines in Brazil, the Minosa mine in Honduras, and the Aranzazu copper-gold-silver mine in Mexico. The loan enables the company to continue leveraging its Latin American footprint, potentially boosting local economies through job creation and increased mining activity, particularly in Guatemala and Brazil.

According to CEO Rodrigo Barbosa, the financing puts Aura in a strong position to exploit favorable conditions in the global gold market, where volatility and price surges are driving strategic investment decisions. The company estimates an after-tax net present value of $1.34 billion for Era Dorada, based on a gold price of $3,177 per ounce.

However, Aura faces risks from possible construction delays and fluctuations in gold prices, which could impact revenue and delay the realization of its production targets. The expanded production capacity and diversified funding sources are expected to enhance Aura’s competitiveness and financial stability as the company targets sustained growth in a dynamic market.