Aura Minerals sanctions $73m Almas gold project in Brazil
The open pit gold mine is expected to begin commercial production in Q4 2022
The Almas gold project will have an estimated mine life of 17 years. (Credit: Erik Stein from Pixabay)
Aura Minerals announced that its board has sanctioned the development of its fully-owned Almas gold project in Brazil with an investment of around $73m.
The company, which is headquartered in British Virgin Islands, expects to begin construction on the gold mine in April 2021.
First gold pour from the project is expected in the third quarter of 2022, while commercial production is likely to follow in the fourth quarter of the same year, said Aura Minerals.