Aura Minerals Inc. completed its first shipment of copper concentrate from the Aranzazu mine in Mexico on schedule.

President and CEO Rodrigo Barbosa said the company expects to declare commercial production at the project on time and within budget.

The company said Oct. 16 that construction of the new tailings disposal system is expected to be completed this year.

In July, a feasibility study for 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.