07:57 AM EDT, 03/28/2025 (MT Newswires) -- Aura Minerals ( ORAAF ) said Friday that it has commenced the production ramp-up at its Borborema gold project in Brazil.

The company said the mine and plant are currently in operation, and it expects to achieve commercial production by the third quarter.

"The start of production at Borborema marks a proud milestone for Aura-our fifth mining operation and second greenfield project, projected to be one of our lowest-cost mines, built on time and on budget in just 19 months with zero lost time incidents," said Rodrigo Barbosa, Aura's president and CEO.

The project is expected to produce 33,000 to 40,000 ounces of gold in 2025. A 2023 feasibility study projected production of 748,000 ounces of gold over a 11.3-year life of mine.

Aura's share price rose 2.8% on Thursday to $27.99 on the TSX.