Aura Minerals Era Dorada project expansion and opposition

Overview

Aura Minerals has secured a US$ 200 million syndicated loan to fund its expansion strategy, aiming to increase production to over 600,000 gold-equivalent ounces annually. A primary component of this growth is the Era Dorada project in Guatemala, which is expected to begin operations in the first half of 2028.

However, the Era Dorada project has faced significant opposition from local communities and environmental groups in Guatemala and El Salvador. Critics warn that gold exploration activities could contaminate the Lempa River basin, a vital water source for irrigation and hydroelectric power across Central America. Concerns include the potential release of harmful minerals like arsenic into the water supply. In the Guatemalan town of Asunción Mita, a municipal consultation showed that 87% of residents reject the mining project.

Entities

Aura Minerals · Itaú BBA · Citigroup Global Markets · Rodrigo Barbosa

Timeline

1 day ago

[INTERNATIONAL] 3 sources
Era Dorada mining project threatens El Salvador and Guatemala border
Communities in El Salvador and Guatemala fear the Era Dorada mining project by Aura Minerals will contaminate the Lempa River basin with toxic minerals like arsenic during gold exploration.
2 days ago

[BUSINESS] 2 sources
Aura Minerals secures $200 million loan for expansion
Aura Minerals has secured a $200 million syndicated loan to fund expansion projects, including the Era Dorada project in Guatemala and production increases at its Brazilian mines.

Sources

bookclubz.com · efeverde.com · eldiariodehoy.com · mining.com · revistamineracao.com.br