Aura Minerals Inc. Reports Operating Results for the Fourth Quarter and Full Year Ended December 31, 2013; Provides Operating and Capital Expenditure Guidance for the Year 2014
In 2013, the company produced 206,747 oz of gold, representing a 20% increase over 172,479 oz produced in 2012. Full year gold production for 2013 exceeded previously provided guidance and represented a record year for the company. In 2013, Aranzazu produced 13,623,000 lb of contained copper, representing a 26% increase over the 10,801,000 lb of contained copper produced in 2012.
Aranzazu's production guidance for 2014 is expected to increase to between 18,000,000 and 19,500,000 lb of copper at a range of $2.60 to $3.15 cash cost per payable lb(2) of copper prior to the effect of any write-downs to net realizable value. For 2014, capital expenditures are expected to be $59 million. Of this amount, $43 million relates to the expansion of Aranzazu and the installation of a roasting facility, while $12 million relates to San Andres and the installation of a secondary crusher, Phase V of the heap leach expansion and community expenditures. The remaining portion will be spent on various miscellaneous projects in the group. The capital expenditure programme for the expansion of Aranzazu is dependent upon successful completion of financing.