Aura Minerals Inc. has all the necessary permits to start building a new tailings disposal system at its Aranzazu copper-gold-silver mine in Mexico.
In the meantime, the tailings are being disposed of in a historical dam, the company said Sept. 10.
Aranzazu offers exploration upside that should be drilled and evaluated in 2019 and 2020. The mine is scheduled to achieve commercial production later this year and reach an average processing rate of 2,600 tonnes per day shortly thereafter.
A feasibility study on Aranzazu pegged a posttax net present value, discounted at 5%, of US$81.4 million, with a 136.7% internal rate of return and capital payback of 22 months.