Aura Reports Record Q4 2025 Production, Exceeds 2025 Guidance

Aura Minerals Achieves Record Quarterly Production, Signaling Strong Momentum into 2026

Aura Minerals (NASDAQ: AUGO) has kicked off 2026 with a robust performance, announcing preliminary fourth-quarter 2025 production figures that mark a company record. The mining firm reported a total of 82,067 gold equivalent ounces (GEO) for the quarter, representing an 11% increase sequentially from the third quarter of 2025 and a significant 23% surge compared to the fourth quarter of 2024. This impressive output trajectory has propelled the company’s full-year 2025 production to 280,414 GEO at current market prices, a 5% increase over 2024. When measured against the company’s 2025 production guidance prices, the full-year output reached 285,380 GEO, comfortably positioning Aura within the upper half of its previously stated guidance range of 266,000 to 300,000 GEO.

The strong quarterly performance was bolstered by several key operational highlights. The successful ramp-up at the Borborema project is a significant contributor, with recovery rates reaching an impressive 91.7% and an average grade of approximately 1.42 grams per tonne. While the initial phase of Borborema’s ramp-up experienced lower-than-guided recoveries, the sustained improvement signifies its growing contribution to Aura’s overall output.

Another notable factor is the consolidation of Mineração Serra Grande (MSG), acquired towards the end of 2025. MSG’s production for December 2025 added 4,761 GEO to Aura’s consolidated figures, marking the initial contribution from this strategic acquisition.

However, the company’s Aranzazu mine presented a mixed picture. While production at Aranzazu decreased by 15% in 2025 compared to the previous year at current market prices, this decline is largely attributed to the fluctuating nature of gold and silver prices, which impact the conversion of various metals into gold equivalent ounces (GEO). At constant prices, Aranzazu’s production remained relatively stable year-over-year, with slight decreases attributed to mine sequencing and planned lower grades. The company noted that molybdenum production contributed positively to the constant price GEO figures.

The Almas mine also demonstrated growth, with its 2025 production increasing by 5% over 2024, following an expansion of its processing plant. Despite a slight decrease in grades due to mine sequencing, the higher ore processed volumes ensured a strong annual performance. Apoena’s production saw a modest year-over-year decrease of 5% in 2025, primarily due to lower mined ore grades and volumes as anticipated, but it still exceeded its production guidance due to improved productivity.

Rodrigo Barbosa, CEO and President of Aura Minerals, expressed his satisfaction with the year-end results. “We are delighted to close 2025 on a high note, delivering 82.1k GEO in Q4 at current prices — a 5% increase over Q3 and 24% above Q4 2024 — driving full-year production to 280k GEO at current prices or 290k GEO at guidance prices. This outstanding result not only surpasses the midpoint of our 2025 guidance but also underscores our robust growth trajectory, even before fully realizing the successful ramp-up at Borborema or the additional production from our recent MSG acquisition.”

Barbosa further elaborated on the company’s strategic direction, emphasizing a three-pronged approach to value creation: developing greenfield projects, investing in exploration, and pursuing strategic mergers and acquisitions. He highlighted the significant milestones achieved in 2025, including increased production, extended mine lives, and the transformative acquisitions of Era Dorada and MSG, positioning Aura for continued expansion and a potential to exceed 600,000 GEO annually in the coming years.

The company’s operational data reveals detailed production figures across its mines. Aranzazu produced 18,878 GEO in Q4 2025, with overall annual production at 83,149 GEO at current prices. Minosa yielded 17,818 GEO in the quarter, contributing 71,649 GEO for the full year. Almas delivered 15,872 GEO in Q4 and 56,979 GEO for 2025, while Apoena generated 8,961 GEO in Q4 and 35,304 GEO for the year. Borborema’s ramp-up phase resulted in 15,777 GEO in Q4, with its annual contribution totaling 28,573 GEO from its operational period.

Looking ahead, Aura Minerals is focused on maintaining its production momentum, integrating its recent acquisitions, and advancing its development pipeline. The company’s strategic positioning and operational execution suggest a promising outlook for continued growth in the global mining landscape. The company’s management emphasizes a holistic approach to mining, termed “360° Mining,” focusing on stakeholder benefits, sustainability, and long-term value creation.