Aura Minerals targets 600,000 ounces as gold slumps

Aura Minerals fell 4.94% intraday on Monday as gold fell 3.62%. Gold futures dropped to a seven-week low because rising Treasury yields, a stronger dollar, and bets on a Federal Reserve interest rate hike in October outweighed safe-haven demand.

The drop coincided with Aura outlining its expansion strategy at Mining Forum Americas 2026. The gold and copper producer, which runs six operations in Latin America, expects to produce between 340,000 and 390,000 gold equivalent ounces this year. Management is targeting 600,000 ounces annually over the medium term.

The next major step in that plan is the $380 million Era Dourada project in Guatemala. The site is scheduled to begin production in early 2028 and add more than 110,000 ounces per year. Aura's CEO stated that the company aims to minimize capital expenditure, optimize returns, and shorten payback periods.

The slide in gold prices places added scrutiny on costs across the portfolio. Aura reported all-in sustaining costs of $1,458 an ounce in 2025. However, the recently acquired MSG mine operates above $3,000 an ounce this year. Management expects that figure to drop to around $2,000 an ounce in 2027. Aura's net debt stands at 0.2 times EBITDA.