https://www.miningweekly.com
Copper|Exploration|Gold|PROJECT|Sustainable
Copper|Exploration|Gold|PROJECT|Sustainable
copper|exploration|gold|project|sustainable

Aura signs new offtake deal with Trafigura

20th November 2020

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

Toronto-listed Aura Minerals has completed a competitive bidding process for a new offtake agreement for copper and gold concentrate from its Aranzazu mine, in Mexico.

Trafigura has agreed to purchase 100% of the copper and gold concentrate produced at the mine, between 2022 and 2024.

Aura says the current offtake agreement with IXM Metals will remain in force until the end of 2021.

Aura expects Aranzazu to achieve material savings under the new agreement, improving gross margins by four percentage points compared with the terms of the existing agreement.

“In 2018 our priority was to restart Aranzazu under a detailed and sustainable production plan. Since we restarted the project last year, we have been investing in geology and exploration in order to increase the life-of-mine as well, besides optimising operational efficiencies. As result, we have been able to exceed initial expectations set in the feasibility study for certain KPIs, such as recoveries and dilution. Now, we were able to improve the conditions of our offtake agreement, taking advantage of a competitive process and favourable market conditions,” says president and CEO Rodrigo Barbosa.

Aura closed Aranzazu in 2014 to re-engineer and redevelop mine entries and production zones. The mine reopened in 2018, attaining commercial production in December that year.

Edited by Creamer Media Reporter

Comments

Latest Multimedia

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
Updated 7 hours ago

Showroom

Rio-Carb
Rio-Carb

Our Easy Access Chute concept was developed to reduce the risks related to liner maintenance. Currently, replacing wear liners require that...

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Resources Watch
Resources Watch
17th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.171 0.208s - 89pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: