Aura Minerals green lights Guatemala gold project

Staff Writer | April 14, 2026 | 8:18 am News Latin America Gold

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The Cerro Blanco gold project is in southeast Guatemala approximately 160km by road from the capital, Guatemala City. (Image courtesy of Bluestone Resources.)

Aura Minerals (NASDAQ: AUGO) is set to go ahead with the construction of its Era Dorada project in Guatemala, marking the expansion of the company’s operations into Central America.

Earlier this week, the Americas-focused gold miner said its board has approved the investment, and accordingly, the company has updated the project’s initial capital costs to include the construction activities.

An earlier capex of $382 million was disclosed in a December feasibility study for Era Dorada, which outlined a 17-year underground mine producing a total of 1.75 million oz. in gold equivalent. Annual production during its first four years is expected to average 111,000 oz.

Aura acquired Era Dorada in January 2025 after buying its former owner Bluestone Resources. The project, then known as Cerro Blanco, had faced issues with the Guatemalan government for its proposed transition to open pit mining.

Under Aura’s ownership, the project would remain an underground operation, and the company said it has budgeted for the necessary infrastructure to address local concerns over water quality.

“As we proceed, our commitment remains: to develop Era Dorada responsibly, listen actively, and demonstrate that modern mining can drive shared progress, environmental care and mutual trust,” Aura CEO Rodrigo Barbosa said in a press release.

Once in operation, Era Dorada would become the Aura’s third producing asset in Central America, after Aranzazu in Mexico and San Andrés in Honduras. The company also has several gold mines in Brazil.

Capex update

The new capex for Era Dorada is now estimated at a range of between $386 million and $453 million, up from $236-$278 million previously, when only early works costs were considered.

The increase in capex reflects the higher expansion costs ($262 million to $314 million) covering the full scope of the project. The exploration and sustaining components of the capex remained the same, Aura said.

Shares of Aura Minerals gained 2.2% at Tuesday’s open, giving the company a market capitalization of $9 billion.