Aura Minerals agrees to internalise Brazilian fleet for R$612M
The acquisition covers Apoena, Almas and Borborema and aims to cut gold costs.
Aura Minerals announced on 2 October 2026 that it signed a definitive agreement to acquire a company holding the mining fleet, equipment leases, and dedicated workforce currently operated by a third-party contractor across three gold operations in Brazil: Apoena, Almas, and Borborema. The transition is scheduled for January 2027. The company already operates its fleet directly at its MSG mine.
The transaction has an enterprise value of R$612 million, equivalent to approximately US$118 million at an exchange rate of R$5.18 per dollar. Aura will pay up to R$250 million in cash. The remainder consists of assumed equipment lease financing and contingent payments tied partly to performance during the transition period. Aura will absorb the dedicated workforce to ensure continuity.
Based on internal estimates, the transaction is expected to reduce weighted-average all-in sustaining costs by US$150 to US$200 per ounce of gold sold across the three sites starting in 2027. Closing remains subject to customary conditions, including antitrust approval from Brazil's Administrative Council for Economic Defense (CADE).
Insourcing the mine operations is a natural next step in that growth strategy and in our ongoing focus on cost reduction. The Insourcing is expected to deliver a robust return on invested capital through an average AISC reduction of US$150 to US$200 per ounce across our three open-pit mines, while giving us greater operational control to pursue further productivity gains and economies of scale.
Share prices can rise and fall. Past performance does not guarantee future results. This article is news, not investment advice.
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