Aura Minerals Inc - Corporate Responsibility Report 2012

Aura Minerals Inc.
2012 Corporate Responsibility Report
Continuous Improvement
Moving forward
together

At Aura Minerals, responsible, sustainable
growth is a journey that requires a commitment
to continuous improvement. This inaugural
Corporate Responsibility Report outlines the
important goals we have set for ourselves and
illustrates how we are working together with
stakeholders to improve our economic, social,
and environmental performance along the way.
This Report contains certain forward-looking information as defined in applicable securities laws. Forward-looking information relates to future events or future performance and reflects Aura Minerals’ current estimates, predictions,
expectations or beliefs regarding future events and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic
and competitive uncertainties and contingencies: many of which are beyond the Company’s ability to predict or control could cause actual results to differ materially from those contained in the forward-looking information. Please
refer to the Company’s 2012 Annual Information Form for a list of estimates and assumptions. All forward-looking information is qualified by this caution.
All currency is in US dollars unless otherwise stated. While every effort has been made to ensure the accuracy of the information contained within this Report, please note that all figures are unaudited.

What
,
s
Inside
Integrating
governance
Board of Directors 14
Compensation 15
Feedback to the Board 15
Corporate Responsibility Management 15
Risk Assessment and Management 16
Corruption 16
Human Rights 16
Industry Involvement 16
Introduction
About this Report 02
About Aura Minerals 04
Message from the President & CEO 06
Progress and Plans Inc. 08
2012 Operational Highlights and Challenges 10
Message from the VP Corporate Responsibility 12
Creating
economic value
Economic Contributions and Impacts 18
Sustainable Benefits to Local Communities 18
Local Procurement 19
Investing
In Our People
Our Employees 21
Employee Training and Career Development 21
Employee Attraction and Retention 22
Local Hiring 22
Collective Bargaining 22
Embedding
Health & Safety
Health & Safety is Everyone’s Responsibility 24
Occupational Safety Performance 25
Health & Safety Training 26
Safety Committees 26
Locating the data
Key Performance Data 41
GRI Content Index 48
strengthening
communities
Community Development & Social Investment 28
Stakeholder Engagement — Our Approach 28
Stakeholder Feedback 29
Resettlement 32
Social Mine Closure Planning 33
Indigenous Communities 33
Respecting
the environment
International Best Practices 35
Energy 36
Greenhouse Gas Emissions 37
Water 38
Waste Management 39
Reclamation and Closure 39
Biodiversity 40
Environmental Protection Expenditures 40
13
23 27
20
34
Our contriutors
This icon represents photos
submissions by Aura Minerals’
employees depicting what corporate
responsibility and sustainability
means to them. Thank you to our
photo contributors!
17
Aura Minerals INc. / 2012 corporate responsibility report 01

About
this report (GRI 3.1/3.2/3.6)
Aura Minerals Inc. (“Aura Minerals” or “the Company”)
is pleased to present its first external Corporate
Responsibility Report (the “Report”), which
communicates the Company’s governance,
economic, environmental and social performance
from January 1 — December 31, 2012.
This Report highlights Aura Minerals’ approach
and commitment to corporate responsibility and
sustainability initiatives and priorities including
governance, the health and safety of our people,
the environment, stakeholder engagement,
human rights and social responsibility. We include
information on our achievements, challenges, risks
and opportunities. Our sustainable objectives are
continuous improvement and increasing value
while mitigating risks, and building mutual
benefits in the regions where we operate.
This Report incorporates data from: (GRI 3.7)
• the Company’s corporate head office in
Vancouver, Canada (relocated to Toronto in early
2013) and the corporate office in Brasilia, Brazil;
• the Company’s producing assets, which include
the Aranzazu Mine in Mexico, the San Andres
Mine in Honduras, and the São Francisco and
São Vicente Mines in Brazil; and
• the Serrote da Laje copper-gold development
project in Brazil.
Because our financial statements are filed
regularly, less emphasis was placed within this
Report on economic performance. For additional
financial data, the Company’s Audited Financial
Statements and Management Discussion and
Analysis can be accessed through our corporate
website at www.auraminerals.com or SEDAR at
www.sedar.com.
Reporting Framework and
Application Level
The Global Reporting Initiative (“GRI”) 3.1
Guidelines and the GRI Mining and Metals Sector
Supplement 3.0 were used in the preparation of
this Report. On the basis of the GRI framework
combined with our materiality assessment, we
reported on a total of twenty-four Performance
Indicators, including five GRI Mining and Metals
Sector Supplement indicators, to achieve a
self-declared application B level. A GRI Content
Index is located at the back of this Report.
External assurance (GRI 3.13) was not sought for
this Report, however the content was reviewed by
the Company’s Board and management team to
verify the accuracy of reported information and to
ensure congruence with Aura Minerals’ policies
and procedures.
Audience AND
Report Cycle (GRI 3.3/3.5)
We anticipate the audience for this Report will
include both internal and external stakeholders:
employees, officers, directors, consultants,
contractors, shareholders and potential investors,
local communities, industry associations,
governments and regulatory organizations,
non-governmental organizations, peers, business
partners, suppliers, and academic institutions.
The Company anticipates producing a Corporate
Responsibility Report annually, where performance
will be benchmarked and year-over-year progress
monitored and assessed for operational
adjustments, the creation of further best
practices policies and procedures, and focus
on increased sustainable performance.
Defining Report Content —
Our Material Issues and
Interests (GRI 3.5)
The determination of materiality is the process
of identifying key issues associated with
our operations to evaluate and adjust our
management approach and priorities, and to
guide and define the content of our Report.
Our 2012 materiality assessment consisted of
surveys and interviews to assist in the identification
and prioritization of material issues. Key interests
and priorities of internal and external stakeholders
were determined through regular interaction and
engagement activities as well as ongoing feedback
from all sites and departments.
Stakeholders consulted for the Report included
employees, local communities, community
organizations, investors, applicable local and state
government agencies, and trade and industry
organizations through dialogue, interviews,
workshops, and roundtable discussions at all
operations. We also identified issues that are
material to Aura Minerals through internal
Tell us what
you think
We welcome questions,
comments, or feedback about
this Report. Please contact:
Gonzalo Rios,
VP Corporate Responsibility
grios@auraminerals.com
In addition to our Content Index,
we have noted the location of
Global Reporting Initiative (GRI)
Standard Disclosures and specific
Performance Indicators
throughout the report.
(GRI)
02 Aura Minerals inc. / 2012 Corporate Responsibility Report
Embracing
our responsibilities
introduction

Road to Zero Accidents/Zero Harm
Attraction (qualiﬁed executive and technical people) and
retention (Mine Closure Planning in Brazil)
Lack of supporting
infrastructure (Honduras)
Restricted access to
supplies, equipment and
technical support
Unforseen business
interruptions
Lack of technical knowledge on
part of communities to understand
environmental impacts and/or efforts
to mitigate impacts
Weak community/social programs
and infrastructure
Travel time to nearest hospital –
medical emergencies (Honduras)
Providing a good workplace environment
Limited company history equates to limited
habitual institutional practices
Local culture possesses
low level of personal
safety awareness
São Francisco/São Vicente
mine closure
Socio-economic impacts of
mine closures
Level of technical knowledge of environmental
regulatory authority in non-mining jurisdictions
Neutralization of heaps
Anti-mining movements
Weak government institutions (police and judicial)
Lack of community engagement regarding
sustainable initiatives
Social investment and development
Product quality (copper concentrate penalties)
Financing/Partner for Serrote
Economic viability of Aranzazu until upgrade
Ability to control costs/
achieve ﬁnancial results/
improve share value
Water management
Waste management
Community relations: Maintaining ongoing
social license to operate
Socio-political: Mining laws in
Mexico and Honduras
StakeholderConcern
Business Impact
LOWhighMedium
LOW HighMedium
The material issues
which ranked high for
both stakeholder
concern and business
impact for 2012 were
included in this Report,
and the full materiality
matrix is shown in the
adjacent illustration.
performance metrics, monitoring industry
media and assessing comparable peer company
reports, and remaining current on policy and
regulatory trends.
Key issues as they relate to opportunities, risks,
challenges and successes for Aura Minerals were
mapped to one of four areas: (i) workplace/health
& safety, (ii) economic, (iii) environment, and
(iv) community, and each of these issues was
ranked as high, medium or low according to the
criterion of stakeholder concern and business
impact and significance.
The material issues which ranked high for
both stakeholder concern and business
impact for 2012 were included in this Report,
and the full materiality matrix is shown in the
illustration below. Going forward, Aura Minerals
will continue to refine its process of defining
material interests and issues as prioritized
by our stakeholders in our corporate responsibility
reporting, and we intend to expand our formal
reach of external stakeholders consulted
for feedback to increase transparency
and accountability.
Note: Aggregation and prioritization
of material issues was done at the
corporate level; significance of issues
may vary at the operational level.
Economic Value
Our People
Environment
Health & Safety
Communities
>
<
Embracing
our responsibilities
introduction

About
Aura Minerals
Sales Revenue
Operating Cash Flow
Profile objectives
Core values
2012 KEy figures
2012 GOLD AND COPPER SALES CONTINUOUS IMPROVEMENT in Safety
Aura Minerals Inc. is
a mid-tier production
company focused
on the development
and operation of gold
and base metal projects
in the Americas.
The Company focuses
on responsible,
sustainable growth
in all its endeavours.
$307.4M
$18.6M
Aura’s accident rate has decreased by an average 31% from 2010 to 2012.
The Company’s 2012 revenue was from the sale of gold dore from the
San Andres and Brazilian Mines and the sale of copper concentrate
from the Aranzazu Mine.
2010–2012 Frequency Index (Injury Rate) (GRI LA7)
(North American Standards based on 200,000 hours worked)
1.2
1.0
0.6
0.8
0.4
0.2
0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2010
2011
2012
2010–2012 Frequency Index (Injury Rate) (GRI LA7)
(North American Standards based on 200,000 hours worked)
1.2
1.0
0.6
0.8
0.4
0.2
0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2010
2011
2012
• Protect the environment and the health and safety of people
• Value honesty and integrity
• Promote open communication and transparency
• Strive to continuously improve corporate responsibility practices
Operating
to the highest
environmental
and safety
standards and
in a socially
responsible
manner
Maximizing
returns on the
Company’s
projects through
efficient operation,
including
production and
cost management
Advancing
projects through
development and
partnerships
Acquiring
and developing
quality mineral
reserves
Gold Sales
164,952 ounces at an
average realized price of
$1,667 per gold ounce
Copper Sales
A total of 20,321 dry
metric tonnes of copper
concentrate containing
10,404,100 pounds
of copper
introduction

Primary metal Copper/Gold/Silver
Mine type Open-pit/
underground
Expected mine life 22 yrs at 2,600 tpd/
14 yrs at 4,500 tpd
# of employees 550
LTFI* 0.65
Primary metal Gold
Mine type Open-pit heap leach
Expected mine life 10 yrs
# of employees 358
LTFI* 0.30
Primary metal Gold
Expected mine life one yr
# of employees 303
LTFI* 0
Primary metal Gold
Expected mine life one yr
# of employees 291
LTFI* 0.31
Primary metal Copper/Gold
Mine type Open-pit copper float
Expected mine life 13 yrs
# of employees 38
LTFI* 0
Operations (GRI 3.8)
Aranzazu Mine Mexico
The Aranzazu Mine is located within the
Municipality of Concepción del Oro in the
State of Zacatecas, Mexico. The property
is approximately 250 km from the city
of Zacatecas and approximately 112 km
from the city of Saltillo.
San Andres Mine Honduras
The San Andres Mine is located in the
highlands of western Honduras, in the
municipality of La Union, Department
of Copan, Honduras, approximately
300 km northwest of the country’s
capital city, Tegucigalpa.
São Francisco Mine Brazil
The São Francisco Mine is an open-pit,
heap leach gold mine located in western
Mato Grosso State, Brazil, approximately
560 km west of Cuiaba, the state capital,
and approximately 50 km southeast of
the Company’s São Vicente Mine.
São Vicente Mine Brazil
The São Vicente Mine is an open-pit,
heap leach operation located in
western Mato Grosso State, Brazil,
approximately 560 km northwest
of the state capital of Cuiaba and
approximately 50 km northwest of
Aura Minerals’ São Francisco Mine.
Serrote da Laje Project Brazil
The Serrote da Laje Project is the
Company’s core development asset
and is a copper-gold development
project located in the central-southern
part of the Brazilian State of Alagoas,
approximately 15 km northwest of the
city of Arapiraca.
Key facts
Producing mines Development Property
1
2
3
54
6
* Lost Time Frequency Index based on 200,000 hours worked
Aura Minerals’ producing assets include the
copper-gold Aranzazu Mine in Mexico, the San Andres
gold mine in Honduras and the São Francisco and
São Vicente gold mines in Brazil. The Company’s core
development asset is the copper-gold Serrote da Laje
Project in Brazil. The Corporate Head Office relocated
from Vancouver to Toronto in February 2013, and the
Company maintains a technical office in Vancouver.
1 Corporate Office*
Toronto, Canada
2 Aranzazu
Mexico
3 San Andres
Honduras
4 São Francisco
Brazil
5 São Vicente
Brazil
6 Serrote da Laje**
Brazil
Note: All Aura Minerals’ assets are 100% owned through subsidiary companies in each jurisdiction
* The Corporate office moved to Toronto, Canada effective February 1, 2013
** Serrote does not have data available for operational aspects while in development status
introduction

I am pleased to introduce the Company’s inaugural
Corporate Responsibility Report. While this is
our first formal Corporate Responsibility Report,
it builds on a well-established commitment to
corporate responsibility and the corresponding
alignment with our business objectives and
mission and is designed to provide tangible
evidence of our commitment to continuously
improve our communication of the Company’s
risks, opportunities and sustainability achievements.
It also includes a discussion of our most relevant
sustainability issues in 2012 as identified by our
ongoing stakeholder engagement processes, as
well as the Company’s key sustainability objectives
and initiatives for 2013.
Economic Sustainability
The Company’s economic sustainability is affected
by various external factors including the pace
of global economic growth and the fiscal and
monetary policies of national governments. Such
factors have a strong influence on the price of the
commodities, our cost of capital, and ultimately,
our profitability and financial position. Our
performance is also dependent on taxes and
royalties, which are expected to increase with
the passage of new mining laws in Honduras,
Mexico and Brazil. In response to these factors, we
continue to concentrate on the economic
efficiency of the Company.
During 2012 we focused on achieving cost-
efficient improvements to our existing operations
while continuing to focus on our expansion plans
at Aranzazu and the development of the Serrote
Project — which we advanced considerably;
technically, socially and economically. We have
continued to optimize the Company’s assets, with
cost reductions in Brazil and at the corporate office,
and the execution of new mine plans in Brazil to
improve operational performance. We are also
exploring opportunities to maximize the value of
the Brazilian assets and at a number of corporate
financing alternatives. In addition, we are looking at
options to maximize the disposal and closure value
of the assets of the São Francisco and São Vicente
mines, including selling the plant and equipment
and utilizing key members of the operating teams
in other locations.
Market valuation and share price
notwithstanding, we successfully met several
significant objectives and fundamental milestones
in 2012 as featured in the Operational Highlights
section of this Report. Our “financial turn-around”
story in 2012 was reflected by several important
metrics, including positive cash flow in Brazil in
the second quarter, a turnaround in the fourth
quarter at São Francisco, an overall return to
stability in the second half of the year and much
improved financial results in the second, third and
fourth quarters.
James BannaNtine
President CEO
Message from
the President CEO (GRI 1.1)
“We successfully met several
significant objectives and
fundamental milestones
in 2012 as featured in the
Operational Highlights
section of this Report.”
introduction

Engaging with Stakeholders
Aura Minerals fully embraces its responsibility to
manage the social and environmental impacts of
our operations in all of the jurisdictions in which
we operate. Our commitment to responsible,
sustainable growth is an integral part of how we
achieve our business goals and objectives and
requires that the contributions we make to our
communities extends well beyond the life of
our operations.
In 2012, our community engagement and
consultation commitment was especially evident
at the Serrote da Laje Project and the San Andres
Mine. Serrote experienced successful community
relations efforts to engage the local community
and achieve a mutually beneficial resettlement
agreement. Equally important was a new
community agreement at San Andres, which
reflects consensus on a number of items,
including the relocation of a cemetery to enhance
exploration efforts and increase mine life potential,
and an urban improvement project that provides
the opportunity for a voluntary relocation.
With the planned closure of São Vicente in
2013, we have placed a particular focus on both
environmental closure and remediation plans as
well as a strong social closure commitment for
our mine staff, for whom we are providing
enhanced training and certifying, or relocating
to other operations.
At Aranzazu, we increased communication
and engagement efforts with state and municipal
governments as well as federal and state
environmental authorities regarding the ongoing
operation and expansion of this mutually
beneficial and important regional project.
Health Safety
Nothing is more important than the health and
safety of our people — our Board, management
and employees should all be very proud of our
improved performance over the past three years.
Our Health Safety record, under the stewardship
of our VP of Corporate Responsibility and with
the support of local management and the Human
Resources team, has continued to benefit from
an active Road to Zero Accidents campaign and a
supportive workplace culture as we emphasize
and promote Zero Harm.
The achievement of OHSAS 18001 at
São Francisco in 2012 was a significant
international best practice milestone,
demonstrating our commitment to the utmost
diligence in our occupational health and safety
management systems.
Moving Forward Together
With this Report, we have aimed to openly share
Aura Minerals’ efforts to ensure our performance
meets or exceeds the expectations for a
responsible mining company. It is my belief that
we have achieved that goal while setting the stage
for continuous improvement. Moving forward
together, our commitment of embracing our
responsibilities, creating economic value, investing
in our people, embedding health and safety,
strengthening communities and respecting the
environment will ensure we continue to improve
our sustainable performance in cooperation
with the communities in which we operate.
Sincerely,
James Bannantine
President CEO
August 15, 2013
“Nothing is more important
than the health and safety
of our people — our Board,
management and
employees should all be
very proud of our improved
performance over the
past three years.”
Aura Minerals’
Approach to Corporate
Responsibility
Sustainability
Corporate responsibility is an integral part of
our organization. It guides us in our everyday
activities and confirms that wherever we
work, we work with integrity. Aura Minerals
is committed to sustainable development,
the protection of human life, the preservation
of the environment, and the improvement
of positive impact on the communities where
the Company operates. The Company
demonstrates this commitment through
corporate responsibility strategies and
sustainable growth aligned with all corporate
responsibility practices, and as embodied
by our policies and standards pertaining to
Health Safety, Environment and Community.
It is from this leadership framework that the
Company prioritizes community development
and engagement within its four core corporate
responsibility principles:
• adopting a strategic approach;
• encouraging community participation
and engagement;
• working in partnership; and
• sustainable support.
These guiding principles will be applied
through adherence to internationally accepted
guidelines and standards and assurance
of a continued effort to integrate corporate
frameworks and policies into practice.
The Company has built and will continue to
maintain sufficient capacity to provide the
necessary tools for all employees, contractors
and consultants to be aware of their roles and
responsibilities with respect to sustainability
and community development and engagement.

Our progress and plans cover issues relating to each of
our six focus areas and outline what we aspired to do
in 2012, what we did, and what we plan to do in 2013.
Progress
Plans
Focus area 2012 plans 2012 Progress 2013 goals
Integrating
Governance
Our governance structure
guides, manages and
monitors our corporate
responsibility and
sustainability initiatives
Implement an operation-wide risk
assessment procedure
Achieved Analyze results, address risk mitigations required
and incorporate risk assessment annual follow-up
into procedures and budget
Gather data and put systems in place for
an internal B level 2011 GRI Corporate
Responsibility Report
Achieved Produce an external self-declared B level 2012 GRI
Corporate Responsibility Report
Creating
Economic Value
How our economic
contributions and impacts
are consistent with our
corporate responsibility
strategies
Complete Feasibility Study at Serrote Achieved Secure project financing and transition into
construction phase
Secure a financing partner for Serrote Partially achieved Preliminary bridge financing
of $20M secured
Complete Preliminary Economic Assessment
at Aranzazu
Achieved Complete engineering and commence
construction
Address San Andres production costs Partially achieved Continue to optimize
Conduct Corporate Standards Audit
(risk assessment and gap analysis)
Achieved Follow-up on progress for items which did not
meet audit criteria and require attention or
improvement
Meet or exceed budgeted gold and copper
production estimates at all sites
Partially achieved Gold Production: 166,000 – 185,000 ounces
Copper Production: 13M – 15M pounds
Relocate the corporate head office to Toronto Achieved Continued increased efficiencies in time zones
and travel
Establish an Investor Relations Program Achieved
VP Corporate Development
in place for marketplace
strategy and communication
to investment community
Build financing relationships and increase market
presence for the Company
introduction

Focus area 2012 plans 2012 Progress 2013 goals
Investing
in Our People
Attracting, retaining and
valuing our employees
while creating a culture
of sustainability
Recruitment for senior site roles at San Andres
and Aranzazu
Achieved Continue to train and/or seek qualified
management personnel
Leadership Program training Achieved Determine how to promote use of tools and skills
in the workplace
Commenced a performance management process Partially achieved Ensure objectives at manager level and enhance
link to compensation
Employee satisfaction survey — São Francisco Achieved Incorporate São Francisco feedback into
daily operations
Embedding
Health Safety
Creating a safe and
healthy workplace free
of accidents, injury
and illness
Zero accidents Achieved
31% improvement over
2011. Zero accidents at
São Francisco and Serrote
Continue training, program implementation and
monitoring to work towards this goal.
• Detailed safety plan and program for Aranzazu
• Continue to maintain a high level of safety at
São Vicente with closure plans
Strengthening
Communities
Engaging with our
communities, their
development and
social investment
Community agreement with San Andres for mine
expansion and cemetery relocation
Achieved
Community agreement with
San Andres was signed in
late 2012
Prioritize community engagement and
liaison to ensure continued relationship with
community regarding mine expansion and
any potential impacts
Resettlement at Serrote — engage and consult
with affected communities
Partially achieved
(approx 85%)
Continue negotiations for remaining 15% of
resettlement agreements by August 2013
Commencement of social mine closure plan at
São Vicente
Partially achieved
Ongoing
Continue to train or transition employees as the
mine closes and decommissions
Respecting
the Environment
Commitment to the
mitigation of risk and
minimization of our
environmental impacts
Conduct cyanide management code compliance
audit at San Andres
Achieved Achieve International Cyanide Management Code
Certification for San Andres in late 2013
No notice of violation at any sites Achieved Continue to assess and mitigate risks to maintain
100% compliance
introduction

2012
Operational
Highlights AND
Challenges San Andres HondurasAranzazu mexico
Highlights
• Preliminary Economic Assessment
complete — the enhancement will increase mill
throughput (internally funded) and roaster
installation will decrease arsenic levels in
concentrate (reducing customer penalties)
• Low number of accidents
• Established an open line of communication
with the community regarding damage in
homes. Vibrations are monitored and the
intensity near houses are well below
international standards
• Investment in human resources that will reduce
turnover and provide continuity
• Compliance with environmental laws
Challenges
• Opposition from a small group of community
members resulted in a protest which blocked
road access to operations for one day in late
2012, and delayed a blasting permit renewal
hindering operations for 17 days in January 2013
• Arsenic levels in the final product (until the
roaster is installed)
• Cash flow, mostly due to final product prices
and/or sales
• Staffing issues — high turnover rate in
certain departments
Highlights
• Finalized community agreement regarding
the relocation of the cemetery, securing the
expansion of the mine and extending the life
of the mine to 10-12 years
• Fulfillment of community agreements that
were dating back to 2007 to build trust in
the community
• Continued momentum developing the work
of the San Andres Foundation
• Successful completion of internal cyanide
management certification compliance audit
• Surpassed improvement cost per ounce
according to budget
Challenges
• The agreements with the community were
reached, however, they took more time than
anticipated and delayed the exploration
program into 2013
• General communication with the community
requires ongoing efforts
• There is a high dependency from the
community on the mine for education,
health and social services
Aura Minerals’ mines and development projects
are situated in three separate and distinct
countries — all with unique climates, cultures,
corporate responsibility opportunities, and
sustainability challenges.
“I am extremely pleased with our
efforts made to engage with the local
community and achieve the new
agreement at San Andres, which
included consensus on a number
of items, including the relocation
of a cemetery that will enhance
exploration and increase mine
life potential.”
James Bannantine
President CEO
introduction

São Francisco Brazil São Vicente Brazil Serrote da Laje Brazil
Highlights
• OHSAS 18001 certification
• Recertification of ISO 14001
• 4 million hours with no lost time accidents
• Optimized mine plan to end of mine life
• Implemented a number of programs to benefit
employee health
• Programa Mobilizar (Mobile Program) —
see case study on page 31
• Partnership with SENAI (Serviço Nacional
de Aprendizagem Industrial) and a private
institution to provide further training to staff
and community in specific skills
• São Francisco was awarded “Best Company
in the Municipality” by the Rotary Club of
Pontes e Lacerda
Challenges
• Exploration and potential extension of mine life
• Maintain zero accidents
• Consistent reinforcement and maintenance
of ISO 14001 and OHSAS 18001
management systems
Highlights
• Potential extension of mine life
• Optimized mine plan to end of mine life
• Retraining initiative, to ensure employment
opportunities across the qualification
spectrum upon closure
Challenges
• Finalization and implementation of the mine
closure strategy (including mine closure funds)
• Retention of qualified staff — either for closure
or transfer to Serrote
• Maintaining a motivated and safe workplace
with imminent closure plans
• Grade affecting recovered ounces in
closing phase
Highlights
• Feasibility study completion; demonstrating
the economic viability of the project
• Agreements in place with the local community
regarding terms of the resettlement program —
early positive adoption and working towards
completion in 2013
Challenges
• World markets — project financing
• Managing expectations of resettlement
and fulfilling commitments included in
the community agreement
“The community resettlement
program at Serrote has gone
extremely well. We placed
significant effort in the
preparation stage, and with
continued engagement and
responsiveness, we expect
full participation in 2013.”
Gonzalo Rios
introduction

Message from the
VP Corporate responsibility
At Aura Minerals, we genuinely want to have a
positive and sustainable impact on the communities
in our direct area of influence. This is a road that
has no final destination; it is a continuous process,
thus the “how” is as important as the goal. In
2012, we implemented standards and procedures
to enhance our performance in the areas of
environment, health, safety and community
engagement and development. As a result, I believe
we are doing better and doing the “right” things
as a company and as individuals. Because of our
process-oriented approach there continues to be
a true sense of measurable improvement in our
perspective and performance, which we endeavour
to communicate in this Report.
I am proud to have witnessed a remarkable
improvement in the safety culture of our
workplaces at all operations and believe Aura
MInerals has adopted the continuous improvement
imperative to become “better every year”. We are
at a point where we have the policies, procedures,
and safety protocols in place to promote our
ultimate goal of zero accidents and foster a culture
of zero harm. Our goal is, and always will be, zero
accidents. We, as members of society, value
human life tremendously, and for that reason our
steadfast message is that it is unacceptable for
anyone to get hurt.
We have also carefully considered and
implemented a broad range of community
development programs at our projects and
operations on the basis of local needs. While some
of our community investment programs involve
straight funding, we believe philanthropy should
only be part of sound social program design.
Below are some of the highlights of our social
contributions in 2012.
Aranzazu Mine — In 2012 there were several
initiatives, including support of local schools and
voluntary home and community infrastructure
repairs, and we are looking at the design and
implementation of more significant programs
that will create the greatest positive impact
on the community.
San Andres Mine — Sustainable development
programs coordinated through the San Andres
Foundation are “germinating” with respect to
community designed and supported long-term
sustainable business opportunities after the
closure of the operation. (See the Foundation
case study on page 19).
Serrote da Laje — The community resettlement
program at Serrote has gone very well, and with
continued engagement we anticipate full
participation in 2013. (Read more about the
re-settlement program on page 32).
São Francisco/São Vicente Mines — The Programa
Mobilizar (Mobile Program) has been an extremely
powerful program — a simple idea with great
impact. Even with pending mine closure, the
Mobile Program will facilitate access to knowledge
about health, safety, the environment and related
services available through the Brazilian
government. (See the case study on page 31).
Stakeholder engagement, community
consultation, and ongoing positive relationships
with local communities were identified as key
material issues at all our sites in 2012 and are a
continued ongoing focus. They are an aspect of
our business that we are highly attuned to, and
we believe and have seen that social dynamics
and community concerns will influence greatly
our project schedules. We must work harder
to accommodate these local sensitivities and
we should adjust our scheduling processes to
ensure thorough community consultation
and engagement.
Everyone in the Company is accountable and
responsible for safety, environmental performance
and relationships with our stakeholders and
communities. In this sense, everyone is a corporate
social responsibility spokesperson. I would like
to thank all of you for helping to advance
our corporate responsibility and sustainable
development initiatives in 2012 and I look
forward to your continuing support.
Thank you and sincerely,
Gonzalo Rios
August 15, 2013
gonzalo rios
introduction

In this section
Board of Directors
Compensation
Feedback to the Board
Corporate Responsibility Management
Risk Assessment and Management
Corruption
Human Rights
Industry Involvement
Integrating
governance

Compliance with our Code of Business Conduct
and Ethics confirms that employees, officers and
directors conduct business in accordance with all
applicable laws, rules and regulations and with
high ethical and moral standards. The Code, along
with other corporate responsibility policies and
charters, reinforces the Company’s ethical
commitment to its employees, host communities
and local authorities, partners and shareholders.
New employees receive an Employee Handbook
and are provided with a copy of the Code, which
they must sign to indicate they have read and
understand Aura Minerals’expectations.
Board of Directors (GRI 4.1/4.2)
Our Board of Directors is responsible for the
oversight of the direction and strategy of the
Company and is an integral part of the corporate
governance structure. At the date of this Report,
the Board is comprised of five men and one
woman for a total of six directors, five of whom
are independent. (GRI 4.3) The Board has six
committees that provide judgement and
assistance to management of the Company:
the Audit Committee, the Compensation
Committee, the Environmental, Health,
Safety Social Responsibility Committee,
the Nominating Corporate Governance
Committee, the Development Committee, and
the Disclosure Committee.
The Nominating Corporate Governance
Committee is comprised entirely of independent
directors. Its mandate is to identify and recommend
new candidates for Board nomination (including
skills and competencies required), (GRI 4.7)
annually assess the performance, effectiveness
and contribution of the Board, (GRI 4.10)
its committees and its directors and make
recommendations for changes when appropriate;
and to ensure that a comprehensive orientation is
received by new directors and continuing
education opportunities are available.
Aura Minerals is committed to ethical business practices
and has thorough corporate governance structures in place
to guide and confirm accountability throughout all levels
of the organization.
All of our directors, officers
and employees are bound
by the Company’s Code
of Business Conduct
and Ethics.
The Code embodies this commitment
and the expectation of Aura Minerals’
directors, officers, employees,
contractors and consultants to conduct
business in accordance with all
applicable laws, rules, and regulations
with high ethical and moral standards.
The Code describes the standards
Aura Minerals expects of its personnel
including, but not limited to:
• compliance with all laws, rules and
regulations in the jurisdictions in
which the Company operates;
• high ethical and moral standards; and
• reporting violations and suspected
violations — Whistleblower Policy.
Issues relevant to Aura Minerals’
business and embedded in the Code
include, among other things:
• confidentiality/confidential
information;
• insider trading and black-out periods;
• avoidance of conflicts of interest;
• Corporate Opportunities Policy;
• protection and proper use of
Company resources; and
• competition and fair dealing.
The Company is committed to:
• treating individuals with dignity
and respect;
• fair employment practices;
• a safe and healthy work environment;
• protecting the environment and being
a responsible member of the
communities in which it operates; and
• timely, full, plain and accurate
disclosure.
Aura Minerals will not tolerate any
type of discrimination or harassment
and expects all relationships among
persons in the workplace be
professional and free of bias
and harassment.
The complete Code of Business
Conduct and Ethics can be located in
the Governance section of our website
at: http://www.auraminerals.com/
About-Aura/Corporate-Governance/
default.aspx
Aura Minerals’
Code of Business
Conduct and
Ethics (GRI 4.6/4.8)
14 Aura Minerals inc. / 2012 Corporate Responsibility Report14 Aura Minerals inc. / 2012 Corporate Responsibility Report
Integrating
Governance

President CEO
Stakeholder Feedback
Aura Minerals‘ Code of Business Conduct and Ethics
Board of Directors
Environmental,
Health, Safety
Social Responsibility
Committee
Compensation
Committee
Nominating
Corporate
Governance
Committee
Stakeholder
Feedback
Mechanisms
• Email
• Regular mail
• Telephone
• Quarterly
conference calls
• Annual proxy
• Whistleblower
email or
regular mailDisclosure
Committee
Development
Committee
Audit
Committee
Site Managers –
Community
Development
Site Managers –
Health, Safety
Environment
Environmental
and Sustainability
Consultants
Compensation (GRI 4.5)
The Compensation Committee is currently
comprised of three independent Board members,
all of whom have held senior executive and board
positions with other base and/or precious metal
companies where they have had direct involvement
in the development and implementation of
compensation policies and practices for
employees at all levels, including executive
officers. The Company has in place a number
of measures to ensure that compensation paid
is fair, reasonable, and directly aligned with
competitive compensation philosophies and
stakeholder interests. For certain specific positions,
compensation bonuses are linked to social and
environmental performance.
Feedback to the Board (GRI 4.4)
Shareholders have the opportunity to voice
their opinion through annual proxies received in
advance of each annual general meeting, and are
invited to ask questions and provide feedback to
management and the Board at each meeting. In
addition, under the Canada Business Corporations
Act, the Company’s governing corporate
statute, there are provisions for the submission
of shareholder proposals and resolutions.
Stakeholders have mechanisms of inquiry and
feedback with our Company and Board through
email on the Company’s website, telephone contact
with the Company, participation on quarterly
conference calls, and regular mail. Concerns
relating to financial or ethical matters may be
directed to the Chair of the Audit Committee
anonymously and confidentially by regular mail or
by email at whistleblower@auraminerals.com.
Aura Minerals has an “open door” policy which
encourages all employees to approach the
President CEO or senior management with
questions or concerns and in accordance with
the Whistle Blower Policy.
Corporate Responsibility
Management
(GRI 4.9) The Board committee with primary
responsibility for overseeing corporate
responsibility matters is the Environmental,
Health, Safety Social Responsibility Committee,
which is comprised entirely of independent
Board members. The committee ensures that
the Company conducts its activities in such a
manner as to ensure the health and safety of its
employees, promote sustainable development,
preserve the environment and develop the
communities in which it operates.
The day-to-day management of the Health
Safety, Social Responsibility and Environmental
programs at Aura Minerals is led by the Company’s
Vice President, Corporate Responsibility, with the
assistance of on-site environmental managers,
health and safety technicians and environmental
consultants. Together they continue to develop and
implement environmental education programs for
the Company’s employees and host communities
at each operation.
Governance and
CR Accountability
Structure (GRI 4.1)
The Company has in place
a number of measures to
ensure that compensation
paid is fair, reasonable,
and directly aligned with
competitive compensation
philosophies and
stakeholder interests.
For certain specific
positions, compensation
bonuses are linked to
social and environmental
performance.
Integrating
Governance

Risk Assessment and
Management
The management of risk is essential to effective
governance and the achievement of our business
objectives. In addition to Board oversight, Aura
Minerals’ management systems (including our
enterprise risk management process), identify
aspects that may present a material risk to the
Company or a specific operation. These aspects
are prioritized to prevent accidents, impacts on
the environment, and incidents that may affect
communities or other stakeholders. An annual risk
assessment is conducted for each site and these
risks are reviewed by the Audit Committee and
included in the budgetary process to ensure the
required resources are allocated to mitigation plans.
Corruption
Aura Minerals has a zero tolerance policy
regarding corruption at any level or in any
business unit or operation within the Company —
which is embedded in the Code of Business
Conduct and Ethics. We also have rigorous internal
financial controls in place to oversee the financial
aspects of operations that could be related to
and/or uncover any incidents of corruption.
Human Rights (GRI HR4)
Aura Minerals is committed to fair employment
practices; all individuals are treated with dignity
and respect. The Company does not tolerate any
type of discrimination or harassment at any level
and expects that all relationships among persons
in the workplace will be professional and free of
bias and harassment.
Our commitment to human rights is exemplified
by our Corporate Responsibility Principles,
Code of Business Conduct and Ethics, and Human
Resources Principles. We ensure training and
follow-up with emphasis upon dispute resolution,
prevention of discrimination and harassment,
forced or underage labour, management of
attendance, performance management and
termination, discipline, drug/alcohol abuse, and
fraud within our Company. We are pleased to
report that in 2012 no incidents of discrimination
were reported. The potential risk of child labour
(HR6) exists in Mexico, Brazil and particularly in
Honduras. The Company enforces compliance
with strict policies and procedures for applicants
(proof of age) of both employees and contractors
to address this issue and associated risk within
its operations and key contributors of its supply
chain. In addition to corporate safeguards,
under-aged employees in a mine environment
are generally not culturally supported.
Aura Minerals has established an open process
to resolve concerns and disputes as well as a
mechanism for the submission of anonymous
reporting of any suspected violations, including
concerns regarding government laws, rules and
regulations, corporate reporting and disclosure, or
financial or auditing practices. Our Whistleblower
Policy is accessible in the Corporate Governance
section of our website at http://www.auraminerals.
com/About-Aura/Corporate-Governance/
default.aspx. (GRI 4.4)
Industry Involvement (GRI 4.13)
Interaction and involvement with Industry
Associations enables Aura Minerals and our
personnel to build and maintain key industry
relationships while keeping informed of sector
trends and international best practices. In 2012
Aura Minerals was a member of the following
Industry Associations:
Brazil
• Agência para o Desenvolvimento Tecnológico
dá Indústria Mineral Brasileira
Technological Development Industry for the
Mining Industry in Brazil
• Câmara de Comércio Brasil — Canadá
Chamber of Commerce Brazil — Canada
• Federação das Industrias no Estado de Alagoas
Alagoas State Federation of Industries
• Federação das Industrias no Estado
de Mato Grosso
Mato Grosso State Federation of Industries
• Instituto Brasileiro de Mineração
Brazilian Mining Association
Honduras
• Asociación de Minería Metálica de Honduras
Mining Association of Honduras
• Asociación Nacional de Industriales de Honduras
National Industry Association of Honduras
• Cámara de Comercio e Industria de Copán
Chamber of Industry and Commerce of Copan
• Consejo Hondureño de la Empresa Privada
Honduras Council for Private Industry
Mexico
• Cámara Minera de México
Mexico Chamber of Mines
• Cámara de Comercio de Canadá en México
Canadian Chamber of Commerce in Mexico
• Cluster Minero del Estado de Zacatecas
Zacatecas Cluster for Mining
“Aura Minerals has deeply
rooted ethical behaviour
and genuinely cares for
its staff. It is a priority
to ensure the well-being
of people and there is
support from all levels;
managers, supervisors,
executives and colleagues,
to ensure the safety and
welfare of everyone.”
Javier Romero
Manager Health, Safety
Environment, San Andres Mine
Integrating
Governance

Conveyor belt, San Andres, Honduras
In this section
Economic Contributions and Impacts
Sustainable Benefits to Local Communities
Local Procurement
Creating
Economic value

Economic Contributions
and Impacts
Whether directly or indirectly, through
investments into employee wages and benefits,
procurement of local goods, capital expenditures,
taxes, or ongoing community investment, our
expenditures contributed to the local and
regional economies of each of our operating
locations. Aura Minerals’ approach aims to
ensure our economic contributions and impacts
are consistent with our sustainable development
goals in each of those locations.
Sustainable Benefits to
Local Communities
Aura Minerals focuses its community investments
on sustainable growth programs, which seek to
provide more long-term sustainable opportunities
and growth than the provision of funds, materials
or infrastructure without the future company
sponsorship or participation. While infrastructure
is often essential for the development of remote
communities, such growth will only be sustainable
if there is an adequate maintenance program
supported by a well-designed process that
includes the participation of local communities
and governments.
Aura Minerals’ primary strategic focus in 2012 was on the Company’s economic
sustainability. Life-of-Mine optimizations (including extension of mine life), internal
and external financing utilization, and ongoing and concentrated community relations
were all conducted with a clear goal in mind — moving Aura Minerals forward towards
improving financial results, increased community and social interaction and the
steady growth of value for all stakeholders including shareholders.
Economic Performance (GRI EC1)
In US dollars (USD) 2012
Sales to external customers $ 307,412,000
Cost of production $ 267,035,000
Depletion and amortization $ 57,311,000
Gross profit (loss) $ (16,934,000)
Other expenses $ 37,112,000
Profit (loss) before income taxes $ (54,046,000)
APPROXIMATE ECONOMIC BENEFITS TO LOCAL COMMUNITIES (GRI EC1)
In US dollars (USD) 2012
Employee wages and benefits $ 54,916,000
Income taxes $ 6,677,000
Payments to providers of capital (finance costs) $ 1,232,000
Payments to government (taxes on sales) $ 4,877,000
Community investment $ 2,809,500
“Whether people work
at the mine or not, they
benefit from the mine
activity in many ways as
the economic status of
the employees increases
their purchasing power
and allows other
businesses and services
in the area to grow.”
Rene Miranda
Patronato Representative and
Employee, San Andres Mine
Photo: Ariel Valenzuela
Open pit, Aranzazu, Mexico
Creating
economic Value

In collaboration with community leaders,
the San Andres Mine created and funded the
Fundación San Andrés (San Andres Foundation).
The Foundation is its own legal entity; managed
by the mine in conjunction with the leaders of
each of the nearby communities of Azacualpa,
San Andres, and San Miguel. The goal of the
Foundation is to address the needs and concerns
of the communities, including investigating
and testing sustainable economic growth
opportunities, which would extend past the life
of the mine, and to start taking the necessary
steps to achieve this target in the long term —
essentially to begin building a socially sustainable
mine closure plan.
After much consultation and feedback, the
Foundation is in the process of establishing
a coffee cooperative with the communities.
The Company has provided the land, finance
start-up materials, training regarding growing
and marketing coffee, as well as support
for product sales. The vision for the coffee
cooperative is that it will provide long-term
employment for participants and their families,
economic benefits to the community, and
remediates the region with a profitable project.
Economic Growth Beyond the Life of the Mine
San Andres mine, Honduras
2012
p Nearby communities 19.60%
p Nearby states and provinces 19.56%
p National 50.84%
p International 10.00%
All operations have a
competitive bid process for
suppliers, which includes
criteria such as geographic
location, quality of
product, cost, delivery
times, availability, service
quality and experience,
with preference (all other
things being equal) to local
and regional suppliers.
LoCAL PROCUREMENT (GRI EC6)
Aura Minerals uses its best efforts to procure
goods and services locally wherever possible.
The percentage of supplies that can be sourced
locally differs substantially from country to
country and site to site.
All operations have a competitive bid process
for suppliers, which includes criteria such as
geographic location, quality of product, cost,
delivery times, availability, service quality and
experience, with preference (all other things
being equal) to local and regional suppliers.
Notwithstanding our efforts to procure goods
locally, much of the large machinery or chemicals
such as cyanide can only be obtained through
international suppliers.
We have added a greater level of detail and
enhanced our definition of “local” beyond the
country level by including nearby states and
provinces, municipalities, and communities.
Local Procurement (GRI EC6)
90%
of Aura Minerals’
suppliers are nationally
sourced with 19.6%
being from nearby
communities
case study
Creating
economic Value

Employee Diana de la Rosa, Quality Control: Aranzazu, Mexico
In this section
Our Employees
Employee Training and Career Development
Employee Attraction and Retention
Local Hiring
Collective Bargaining
Investing in
Our People

Number of Employees by Gender (GRI LA1)
500
400
300
200
100
0 Brazilian OfficeSerrote da LajeSão VicenteSão FranciscoSan AndresAranzazu Corporate Office
Average Training Hours
per Employee (GRI LA10)
OUR EMPLOYEES
In 2012 Aura Minerals employed up to 1,568 people
across four countries, five operations, and two
corporate offices. We promote a respectful and fair
workplace and foster a level of commitment to a
high performance culture of zero harm.
EMPLOYEE TRAINING AND
CAREER DEVELOPMENT
Aura Minerals provides competitive or above
national average wages as well as benefits and
training opportunities to our workforce. We orient
our new employees through training about our
health, safety and environment program, providing
Aura Minerals places great emphasis on our most important resource — our people.
Our employees and contractors are key to the success of our business; we rely on skilled,
hard working, and committed people. We prioritize and maintain our relationships with
our employees and contractors by ensuring that we have effective processes, policies,
and training in place to ensure their health and safety.
2012
Aranzazu San Andres São Francisco São Vicente Serrote da Laje Brazilian Office Corporate Office
Mexico Honduras Brazil Brazil Brazil Brazil Canada
p Male 474 303 272 272 31 5 11
p Female 76 55 31 19 7 7 5
Total 550 358 303 291 38 12 16
1,568 34Employees as at
December 31, 2012:
1,368 male, 200 female
On average, our
employees received
34 hours of training
in 2012. Total training
overall: 51,433 hours
role-specific health and safety training, detailing
our human resource principles and key practices,
and familiarization with emergency protocols.
We have an open process to resolve concerns
and for dispute resolution; we ensure training
and follow up to eliminate discrimination and
harassment. We ensure employees are in a ready
2012
p Aranzazu – Mexico 8.25
p San Andres – Honduras 24.59
p São Francisco – Brazil 70.97
p São Vicente – Brazil 52.72
p Serrote da Laje – Brazil 14.84
NOTE: Operation/project sites only, this data does not include
Brazil or Canada Corporate Offices
“The Company provides
plenty of opportunities
for its people to develop
professionally and it is
up to the employee to
take advantage of these
opportunities. I have
been at São Fransicso
for almost three years,
and I see myself as a
very different person
in that time frame —
I have learned and grown
both professionally
and personally.”
Janderson Frazao de Lima
Drill Operator, São Francisco Mine
Investing
in Our people

EMPLOYEE ATTRACTION
AND RETENTION
In 2012 we placed specific focus on employee
attraction and retention at all our operations.
Initiatives in this regard included a company-wide
benefits review and site level salary reviews,
continued supervisory programs (supervisory
skills training and continuous improvement
projects) and an employee satisfaction survey at
São Francisco. At São Vicente, we initiated a
comprehensive program of training, job search
assistance, retention incentive for employees who
remain with the mine, training for professionals
and for unskilled, semi-skilled, and skilled labour.
LOCAL HIRING
Aura Minerals seeks to hire locally where possible
so that the economic benefit of employment
remains to the greatest extent possible in our
host communities. We emphasize the hiring of
employees from local and regional communities
at all locations and operations and we prioritize
local training to build additional capacity in this
regard. Expatriate employees are only sought for
positions where the experience and/or technical
qualifications are not available within local or
regional populations. Although Aura Minerals is
very strong in its ability to source talent at the
local level, each of our operations is working
towards continually strengthening and expanding
its training programs to further enhance local
employment opportunities.
Our Serrote da Laje development project has
taken this commitment one step further with a
written agreement with the local municipalities to
train and hire qualified people locally.
COLLECTIVE BARGAINING (GRI LA4)
Employees at all our operations enjoy the
unencumbered right to freedom of association as
per applicable labour laws (Serrote da Laje
remains an exception while in development stage).
At December 31, 2012, 81% of our employees at
the site level were covered by collective bargaining
agreements. The right to collective bargaining and
freedom of association does not pose significant
operational risk at our sites or with our suppliers.
Aura Minerals renewed or completed three
collective agreements and had no work
stoppages in 2012.
and safe work condition by conducting appropriate
drug and alcohol testing, and we ensure our
contractors apply these same standards.
Aura Minerals establishes goal alignment
for its employees by clearly communicating the
Company’s strategy and annual goals, and
ensuring these are a part of the performance
management process. This includes establishing
annual goals, objectives, regular follow-up and
feedback (recognition of performance) processes.
Position profiles, performance evaluations
and competency matrix programs have been
developed to provide employees with a clear link
between performance and compensation and
we continue to advance these measurement tools.
Additionally, we identify and support future
leaders for management roles, providing ongoing
development (experience based) opportunities,
and ensuring processes for the ongoing exchange
of technical and management knowledge within
the business.
Examples of professional development in 2012
included specific training related to technical aspects
of work (new techniques and equipment), first aid
training, and scholarships for the completion of high
school equivalency and university courses.
In November 2012, the experience and expertise
of a São Francisco employee was utilized across
operations when Ana Paula Teixeira Machado was
sent to the Company’s San Andres Mine to conduct
an internal audit for their Cyanide Management
Code (ICMC) certification. Ana Paula was the most
experienced and capable candidate within the
organization for this type of compliance audit,
being certified to be an internal auditor for the
ICMC certification, responsible for the integrated
management systems at São Francisco, and
having worked closely with the process to achieve
ISO 14001, OHSAS 18001 and ICMC certification.
Ana Paula assessed the protocols and advised the
staff regarding improvements required to achieve
ICMC certification at San Andres, which provided
an excellent professional development opportunity
for Ana Paula, an opportunity for the Company’s
Honduran operation to learn about what the other
mines are doing to support a more efficient and
targeted way to achieve the certification, plus
a cost-effective means for Aura Minerals to conduct
an internal audit.
,
Creating
Opportunities
for Professional
Development
SÃo Francisco, Brazil
“Participating in the internal audit of the International
Cyanide Management Code at the San Andres Mine
was an amazing experience! Regardless of culture,
country, or language, Aura Minerals seeks the
same goal at all its operations, which is to prioritize
the safety and health of employees and communities
“Working at Aranzazu has
provided me with both
personal and professional
satisfaction. I enjoy
working with people who
are highly qualified and
committed to their jobs
and I am grateful for the
huge interest that the
Company has in their
employees through the
leadership program.”
Rosario Martinez
Maldonado
Community Relations Coordinator,
Aranzazu Mine
Ana Paula
Teixeira Machado
Health Safety Environment
Management Supervisor
São Francisco Mine
and to preserve the environment. The exchange of
experiences between operations helps us identify
safer and more efficient operational procedures in
the management of cyanide, as well as resource
efficiencies and continuous improvement processes.”
case study
Investing
in Our people

Employee Jussan Rodrigo Pessim de Paula, São Francisco, Brazil
In this section
Health Safety Is Everyone’s Responsibility
Occupational Safety Performance
Health Safety Training
Safety Committees
Embedding
Health SAFETY

We believe that work-related injury, accidents and
illness are preventable. We commit considerable
time and resources to properly train all our
employees to plan and execute work in a safe
and responsible manner, and to take all actions
necessary to promote and achieve our goal of
being a zero-accident company. Aura Minerals
believes that sound safety and occupational health
management practices are in the best interest
of all its stakeholders. All of our operations
and development projects have management-
employee health and safety committees in place
(GRI LA6) that monitor and advise on occupational
health and safety programs and issues. The San
Andres and Aranzazu sites extend this commitment
further and have health and safety topics embedded
in their formal union agreements. (GRI LA9)
Health Safety is
Everyone’s Responsibility
Aura Minerals has fostered a corporate culture of
trust and commitment to motivate our people to
embrace and execute our health and safety
strategy. Each and every employee is encouraged
to take personal responsibility for these standards
and behaviours — at work and at home. We have
extensive health and safety standards and
objectives and have communicated these targets
to our employees with the goal of zero accidents.
Aura Minerals currently has a low number of
At Aura Minerals, our goal is to build a purpose-driven, high-performance
safety culture that achieves and maintains a safe and healthy workplace
free of accidents, injury and illness.
accidents — but we believe any accidents are
unacceptable and preventable. Our measurement,
monitoring and communication of our performance
are integral steps in increasing awareness and
transparency of our progress on the road to
zero accidents.
The Company’s internal safety
campaign on the road to our desired
destination: zero accidents.
Aura Minerals believes that sound
safety and occupational health
management practices are in the best
interest of its employees, business,
shareholders, and the communities in
which we operate. Work related injury,
accidents or illness are preventable
and we will actively encourage our
employees to plan and execute their
work and take the actions necessary to
promote and achieve our goal of being
a zero accident company. Accordingly,
the Company will:
• promote safe and healthy
behaviour as a core value in the
organization’s culture;
• promote and enhance employee
commitment and accountability
to health and safety;
• develop and implement effective
management systems to identify,
minimize and manage health and
safety risks in the workplace;
• develop and implement a safety
risk-assessment process which
focuses on the generic task;
• provide the expertise and resources
to achieve a safe and healthy work
environment for all of our people;
• provide training and information to
enable all our people to work safely
and competently;
• comply with applicable regulations,
laws and international guidelines;
• establish clearly defined safety and
occupational health programs and
strive for continuous improvement
by setting targets and measuring
results against those targets;
• recognize and reward good safety
performance and achievements
throughout the organization; and
• promote health and safety in all
aspects of our work, family and
local communities.
Aura Minerals’
Occupational
Health Safety
Policy
Daily safety meeting, Aranzazu, Mexico
Embedding
Health Safety

OCCUPATIONAL SAFETY PERFORMANCE (GRI LA7)
We track occupational safety performance for both employees and contractors. In 2012, there were
no fatalities or occupational illnesses in our operations. The following chart shows our occupational
safety performance:
Improving Performance
SÃo Francisco, Brazil
“There are a number of factors that have
contributed to achieving 4 million hours without
an accident with lost days in São Francisco:
• involvement of all management
and leadership;
• active participation of management
motivating employees;
• efforts put into the OHSAS 18001
certification (procedures, training,
preparation for emergency response,
signaling, etc.); and
• safety inspections facilitating interaction
with the employees and providing the
opportunity to share concerns in terms
of health, safety, and environment.
The most important aspect is that employees
now truly understand that the main objective
of the Health, Safety Environment
Management Systems are established by the
Company to preserve life and the environment.
They are a key part of this system, and it is
much better to work in a company that values
each employee and that puts health and
safety first.”
Daily morning safetydialogues,São Francisco, Brazil
2012 Frequency index rate: North American Standards
(based on 200,000 hours worked)
Aranzazu San Andres São Francisco São Vicente Serrote da Laje
Frequency index (Injury rate)(1)
0.65 0.30 0.00 0.31 0.00
Severity index(2)
35.84 9.99 0.00 32.20 0.00
2012 Frequency index rate: Latin American Standards
(based on 1,000,000 hours worked)
Frequency index (Injury rate)(1)
3.24 1.51 0.00 1.56 0.00
Severity index(2)
179.20 49.97 0.00 161.00 0.00
(1) Frequency index refers to the frequency of injuries relative to the total time worked by the total workforce multiplied by a factor of
1,000,000 in Latin America and a factor of 200,000 in North America
(2) Severity index refers to the total number of lost days relative to the total time worked by the total workforce multiplied by a factor
of 1,000,000 in Latin America and a factor of 200,000 in North America
Number of Lost Days without Accidents
Number of lost days(1)
442 121 0 206 0
Number of lost time accidents(2)
8 4 0 2 0
(1) Lost days are days where an employee cannot return to work
(2) Lost time accident is an injury that generates lost days
Data is aggregate for all employees — data by gender was not available at all sites for 2012
Fabiano Martins
Health, Safety
Environment Coordinator,
São Francisco Mine
Regular employee check-ups,
San Andres, Honduras
case study
Ederwan Lino Morais
HEALTH SAFETY TRAINING
All of Aura Minerals’ operations have training,
counselling and prevention programs in place to
further educate our employees, their families, and
community members about occupational health
concerns and serious diseases. Our operations
have programs and campaigns every year. Some
of the programs at our sites in 2012 included:
• programs to promote general health and safety,
work accident prevention (for example
Retrocede y Reflexiona — Step Back and Think),
and incentives for health and safety reporting
(Vale por la Vida — Value of Life) (Honduras);
• specialized medical check-ups for conditions
potentially affecting health (custom focused
to the employees position) (São Francisco/
São Vicente);
• implementation of an ergonomics study on the
best body positioning according to the role for
healthy maintenance of body and recommending
adjustments for improvement (São Francisco/
São Vicente);
• health education campaigns on: smoking,
diabetes, hypertension, vaccines, obesity, drugs
and alcohol, STDs/AIDS, birth control methods,
and dengue fever; and
• Prevention of Accidents Week in São Francisco/
São Vicente and Serrote.
Embedding
Health Safety

EMERGENCY BRIGADE
Each of our operations must have an emergency
brigade by law. Emergency brigades are composed
of a mandatory, minimum number of trained
volunteers per shift who can attend to fires or other
emergencies at the mine site. Emergency brigades
are often called upon to assist in emergency
situations in nearby towns or communities as well.
SAFETY COMMITTEES (GRI LA6)
Every operation has a commission responsible for
inspections and improvements. Their mandate is
to conduct monthly inspections, identify areas of
improvement and outline what changes need to
be made or training that should be in force. A total
of 79 employees (representing approximately 6%
of the total work force) participate in these formal
joint management-employee health and safety
commissions that help monitor and advise on
occupational health and safety issues.
São Francisco has an additional safety
committee that was created as a result of the
implementation of OHSAS 18001. This commission
is formed by leadership members and their role
is to supervise and evaluate the implementation
and compliance of the OHSAS management
system, as well as ISO 14001.
At all our operations our health and safety
efforts are guided by internationally recognized
standards, including the International Cyanide
“I am looking forward to
being involved in the
potential implementation
process of OHSAS 18001
because I think it will be
an incredible learning
opportunity and a big step
forward for Aranzazu.”
Ariel Valenzuela
Health, Safety Environment
Supervisor, Aranzazu Mine
Emergency brigade team training session, São Francisco, Brazil
Management Code, Occupational Health and
Safety Management Systems 18000 series and
the International Organization for Standardization
Environmental ISO 14000 series. (GRI 4.12)
Emergency egress from open pit, Aranzazu, Mexico
Agne Ahlenius
Embedding
Health Safety

Computer lab donated by the Company, San Andres, Honduras
In this section
Community Development Social Investment
Stakeholder Engagement – Our Approach
Stakeholder Feedback
Resettlement
Social Mine Closure
Indigenous Communities
Strengthening
Communities

COMMUNITY DEVELOPMENT
SOCIAL INVESTMENT
At Aura Minerals, community development must
encompass the improvement and broadening of
resources and skills of a local community, its
organization and its interaction with the outside
world. Priority is given to sustainable programs
that could conceivably continue beyond mine
closure without the Company’s ongoing support,
leadership, and financial reinforcement.
A community development plan has been
implemented at each project site, which provides
opportunities for communities with interests in our
operations to share in the benefits resulting from
our activities, including capacity-building, social
investment projects.
The types of social investment projects
implemented by the Company to date include:
• education;
• health services;
• social infrastructure;
• resettlement support
(unique empowerment options);
• sustainable production initiatives;
• poverty alleviation; and
• environmental conservation.
STAKEHOLDER ENGAGEMENT —
OUR APPROACH (GRI 4.16)
Aura Minerals is committed to engagement with
stakeholders to identify and understand their
perspectives, interests, and key concerns. We
practice proactive community consultation
between the Company and our stakeholders, which
enables an ongoing understanding of impacts,
identification of issues, and management of
expectations as they relate to our operations at
every stage of the mine-life cycle.
Aura Minerals has implemented a community
engagement policy and plan at each project
site, which includes (at minimum) the
following components:
• community identification and analysis,
stakeholder mapping and engagement with key
stakeholders to identify and understand their
interests and key concerns;
• information disclosure in accessible venues
and meaningful formats that can be easily
understood by local communities;
• proactive community consultation ensuring
an open dialogue between the Company and
its stakeholders;
• beyond consultation, a willingness to negotiate
and build partnerships to reach mutually
accepted outcomes;
A key corporate responsibility priority for Aura Minerals is
creating lasting relationships with local communities that are
built on mutual respect and trust, and to achieve agreed-upon
objectives while sharing benefits from projects.
• encouraging community participation in the
monitoring of social and environmental
commitments made by the Company, and
retaining external organizations for monitoring
where it can enhance assurance and
credibility; and
• follow-up with the community beyond
consultation stage including what risk or
mitigation actions will be implemented and
how project impacts will be monitored.
In 2012, Aura Minerals was active with respect
to ongoing engagement with the following
stakeholder groups: local communities,
government agencies, employees, contractors,
institutional and individual investors, academic
institutions, and our customers. (GRI 4.14)
Amongst other methods, we communicate
with stakeholders through regular interaction,
open-door conversations, formal presentations,
town hall meetings, community liaison officers,
and hotlines. (GRI 4.15) We regularly update our
stakeholder maps and engagement activities at
all project site locations as a reference point for
connecting and collaborating with our internal
and external stakeholders and we prioritize
stakeholder groups primarily through consideration
of potential impact, combined with our risk
assessment processes.
Nearby church, which commemorates
the image of the Virgin of Guadalupe
on December 12th every year,
Aranzazu, Mexico
Luis Enrique Ramirez
Strengthening
Communities

STAKEHOLDER FEEDBACK (GRI 4.17)
It is through ongoing efforts to maintain positive
relationships and develop trust that Aura Minerals
has learned the most about the needs and
concerns of our local communities. Although at
different levels of sophistication, we have
implemented what each site considers the most
appropriate and approachable mechanism to
receive and respond to any community
complaints, and to ensure that any concerns are
responded to in a timely manner. The following
charts outline community feedback in 2012 and
the actions taken by Aura Minerals to address
these concerns.
Operation Key impact or issue description actions taken by Aura Minerals
ARANZAZU Water The region has suffered severe drought conditions
in recent years and water scarcity has become a
major issue with the mine and community sharing
certain water sources
Aura Minerals is working with the municipality
to build a wastewater treatment plant to reuse
more water and reduce the demand for fresh
water from shared sources
Cracks in houses Some members in the adjacent community of
Bellavista claim that their houses have cracks
because of blast vibrations from the mine.
The blasting permit was temporarily suspended
while the government consulted with Aura
Minerals and the community
The mine has done the necessary monitoring to
ensure detonations are within regulatory limits
that would not affect architecture. An
independent expert was hired to reduce the
impact, noise and material dispersed. As a sign
of good faith, Aranzazu repaired cracks in 16
houses and provided construction materials to
another 73 houses for minor repairs
Airborne dust An issue with air quality (mineral dust readings)
at a transfer station location was brought to the
Company’s attention
Aura Minerals engaged in ongoing dialogue
with PROFEPA — the Mexican Environmental
Authority — and together designed what they
believe to be the most contained and cost-
effective solution
Repairing damaged homes in Colonia Bellavista, Aranzazu, Mexico
It is through ongoing
efforts to maintain
positive relationships
and develop trust that
Aura Minerals has
learned the most
about the needs and
concerns of our local
communities.
Stakeholder Feedback by Operation 2012
Strengthening
Communities

The community of Azacualpa has a population of approximately
1,700, located in close proximity to the concession boundary of the
San Andres Mine. Azacualpa is situated in an area designated by
COPECO (Comisión Permanente de Contingencias — Permanent
Commission for Emergencies) as a high risk area because of the
geography and the high possibility of a slide occurring — which has
occurred in the past. Although the previous slides were unrelated
to mining activity, and the community is not located within our
2013 planned activity area, exploration will commence on an
adjacent hillside. There is some concern by the community that
there could be risk to safety and buildings in the event of a slide.
Through a community survey it was determined that 87% of
the local population was in favour of a plan proposed by the
San Andres Mine to voluntarily relocate their homes and families
away from the perceived risk zone to a new urban area. Through
stakeholder engagement and consultation, town hall meetings,
roundtable discussions and municipal government negotiations,
the community was empowered to make the location decision for
new housing based on their own priorities, needs and criteria. In
2012, the San Andres Mine signed an agreement with the
community, which will enable them to move forward to purchase
the land and commence the construction of the first homes.
The San Andres Mine will build approximately 350 new homes
over a period of three years in a cooperative effort with the
municipal government which will provide water, sewage and
electricity services.
Community Agreement and Voluntary Relocation
San Andres, Honduras – Azacualpa Urbanization Project
SAN ANDRES Economic and employment
dependency on the mine
There is concern regarding the level of
dependency on the San Andres Mine
for employment
Aura Minerals is working on economically
sustainable development plans such as the
coffee cooperative initiative to expand income
options for local families
Health, education and
infrastructure services
Dependency on the mine for health, education
and infrastructure services. Because of the lack
of capacity of the local government to provide
for these services the mine has voluntarily
filled this gap
Aura Minerals is researching partnerships with
external organizations as to how to build local
capacity and ultimately transition health
education and infrastructure responsibility
back to the local government level
Mine expansion General mine expansion has caused concern
about the safety of nearby residents
Aura Minerals developed a voluntary relocation
program for concerned residents to move
should they choose. Ongoing engagement
and negotiations throughout 2012 took place
with the communities to reach an amicable
agreement which was signed in late 2012
A new exploration permit caused concern
regarding risk of potential damage to the
local cemetery
As part of the above agreement, San Andres
proposed the relocation of the cemetery to
avoid any risks of damage. Relocation will
commence in 2013
Site visit to a potential area for the Azacualpa Urbanization Project
In Focuscase study
Strengthening
Communities

The Programa Mobilizar (Mobile Program) is co-sponsored by
the São Vicente and São Francisco mines for their adjacent
communities and is the furthest reaching community effort at
the Brazilian operations. The goal of the Mobile Program is to
create awareness in the community for health, safety, and
environment programs and to facilitate access to the many
programs offered by the Brazilian Government.
This one-day program is set up in a local school in each location
with a series of “stations” in different classrooms for community
members to receive information and assistance. A large part of
the program is focused on health (thorough medical and dental
examinations and a variety of health education and disease
prevention sessions, and a cooking course to learn to prepare
healthy meals on low budgets), and there is also a documentation
component, which includes support for legal aspects such as
updating citizenship identification, or fishing and work licences.
Financial guidance to manage employee retirement payments or
plans is also provided. The program also presents environmental
education programs and interactive discussions on what the
mine does for environmental controls.
Participants in the 2012 program:
São Vicente – 15,593
São Francisco – 28,395
Community Investment
São Francisco and São Vicente, Brazil
São VICENTE Local job opportunities The mine is the main source of employment for
the communities nearby and there is concern
about the economic effect upon closure
Transition training to further skills in mining or
other jobs and assistance for those who wish
to transfer to the neighbouring projects of
São Francisco or Serrote whenever possible.
Severance packages will also be available upon
mine closure
São FRANCISCO Local job opportunities There is some concern about job loss at mine
closure. São Francisco is an important source
of employment for the region but not the
main one
The São Francisco mine has training programs
to build capacity for local communities, not only
in the areas related to skills useful for the mine,
but in skills that can be useful for other jobs
Serrote da Laje Resettlement agreement Concern has been expressed regarding the
timelines of certain achievements regarding the
resettlement process
There is a local project management team in
place to best meet agreed upon timelines and
manage expectations
Local hiring There is interest in ensuring job opportunities
are provided to local communities closest to the
mine site
Aura Minerals partnered with a national institution
to provide federally sponsored training courses to
a large group of people on the skills they will
need for upcoming job openings
Cooking class in partnership with SENAI, São Francisco, Brazil
case study
Strengthening
Communities

RESETTLEMENT (GRI MM9)
The development of the Serrote da Laje (GRI 2.1)
copper-gold project in Brazil involves the
resettlement of approximately 260 families
residing on approximately 187 properties (GRI 2.1)
that are currently within the boundary of the
Serrote mine plan. The community of Lagoa da
Laje will be fully relocated and certain families
on land packages in other nearby communities
will be partially relocated. As of April 2013, we
have finalized approximately 85% of the property
agreements and are in the process of negotiating
the remaining 15%, which we hope to have finalized
by August of 2013.
Aura Minerals purchased five packages of
agricultural land for relocation options and there
is a credit option available for those families
who wish to relocate elsewhere. Much of the
resettlement property is agricultural, and Aura
Minerals has taken the necessary steps to ensure
each and every land owner has the opportunity
to receive agricultural land. New property must
be used for agriculture and ownership cannot be
transferred for 10 years in order to contribute to
the sustainable maintenance of the long-term
pattern of land use in the region. (GRI 3.0)
In addition to the value or land received,
resettled families will also receive:
• access to water, power, and roads;
• preparation of new land to grow crops;
• mechanical equipment (agricultural) for
each cooperative;
• technical assistance for a period of 2 years
(agronomist, veterinary care, agricultural
technician and social adaptation support); and
• access to the school and church (pending
location decision).
In partnership with the Government of Brazil,
a series of professional training sessions will be
conducted to ensure the demand for trained
personnel for employment at Serrote is satisfied
locally to the highest extent possible.
Aura Minerals established processes to manage
the social impact of the relocation of families in
the region and also recognized the importance
of a consistent community contact point for the
resettlement. Ramon Ruediger is an internationally
recognized community engagement specialist
and has previous experience with resettlement for
resource development projects in Brazil. Ramon
and his team were hired in 2012 to assist the
Company is reaching a fair agreement with
the residents of Serrote, which satisfied both
community and Company expectations.
Under Ramon’s guidance, consultation with
the community (2.2) included meetings with the
mayors of the nearby municipalities (Craibas
with a population of approximately 22,000 and
Arapiraca with a population of approximately
230,000) and two general assembly meetings
with the affected communities. One assembly
was specifically for Lagoa da Laje with the largest
number of affected families (approximately 99)
and another with the remainder of the
communities (approximately 88 families).
The engagement and consultation process
was comprised of a total of 8 community
meetings with a specific topic addressed in each
meeting, including area acquisition, land value
assessment, resettlement options (land or credit),
documentation, and the negotiation process.
In addition to community meetings, personal home
visits were conducted by the community relations
team to better understand individual family needs,
“It is highly important to
be fully transparent,
honest, and to fulfill the
commitments the
company makes. It is
also crucial to treat
people with respect and
dignity, to allow them to
address their needs from
the heart. If trust is
broken at any point, the
engagement process is
damaged and would be
very hard to recover.”
Ramon Ruediger
Consultant,
Serrote Resettlement Process
Community engagement meetings, Serrote da Laje, Brazil
Strengthening
Communities

personally clarify any doubts or questions, and
build rapport with each family. The local community
was engaged and consulted in the process of
preparing the Resettlement Action Plan (RAP).
A school and a church are the only two public
buildings in the relocation area, both of which will
be relocated or rebuilt. Aura Minerals is working
with the Ministry of Education to identify the best
location for the school and directly with the
community to relocate the church.
One of the first cultural aspects encountered
in the Serrote resettlement process was the
relocation of the Santinha (the protective icon
representing the little chapel). Religion is highly
important to the local communities and ensuring
the safe relocation of the Santinha icon is of great
importance to the Company.
SOCIAL MINE CLOSURE PLANNING
(MM10) Mine closure and the departure of
mining operations from a region will, unless
carefully considered and implemented, have a
dramatic economic impact on a community.
Our community development program works in
partnership with local communities to develop
capacity building, social investment projects and
training programs in preparation for the social
and economic transition of a mine closure.
Our aim is to engage often and early, manage
community expectations, and develop sustainable
opportunities which could conceivably continue
beyond mine closure without ongoing support,
leadership or financial reinforcement.
The São Vicente Mine will cease operations in
2013. The Company is planning and preparing
for closure as well as other options which are
being evaluated regarding disposition of the
plant and ancillary assets. Transition planning for
employees was initiated in 2012, and this has been
a particularly challenging time, as the mine is
faced with balancing the competing priorities
of retaining the skills and technical expertise to
properly decommission the mine with the
long-term interests of its employees.
The São Vicente social mine closure plan
includes (at a minimum):
• motivational programs to stay at the mine until
closure — assistance with achieving
certifications and incentive bonus structures;
• partnership with SENAI (federal agency) to
provide training for nearby communities and
for current employees to develop additional
non-mining skills that can be used elsewhere.
SENAI is also providing mining technical
training for employees — upgrading certified
positions to certificate level; and
• career transition support and development —
labour coach to aid the transition or reposition
for new employment opportunities.
INDIGENOUS COMMUNITIES (MM5)
São Francisco is the Company’s only operation
that has indigenous peoples’ territories nearby,
the Reserva Indígena Sararé and Reserva Indígena
Paukalirajausu. The Company established a
fund in the amount of $500,000 and signed an
agreement with FUNAI (Fundação Nacional do
Indio — National Indian Foundation) which
decides how to distribute funds over a 10 year
amortization (inception 2005). The Company
enjoys an excellent relationship with FUNAI, which
identifies and develops independent expenditure
priorities, and also responds to specific requests
from the communities.
“As a resident of Lagoa
da Laje, my family is a part
of the resettlement process.
In the new location, the
town is closer, the road is
better and we will have
new facilities like the
school and church for the
community. Overall, I think
we are gaining a lot.”
Alexandre Francisco da Silva
Community Member and Employee,
Serrote da Laje Project
Santinha in Caraibas, Brazil
Strengthening
Communities

Employee Jose Luis Loredo vegetating slopes for stability control, Aranzazu, Mexico
In this section
International Best Practices
Energy
Greenhouse Gas Emissions
Water
Waste Management
Reclamation and Closure
Biodiversity
Environmental Protection Expenditures
Respecting the
environment
carlos campos

We fully integrate international environmental
standards, best practices and design into all
our operations with the aim of reducing our
ecological footprint.
Our environmental program is focused on
environmental protection and compliance.
The program consists of our:
• Environmental and Sustainability Policy;
• environmental policies and procedures;
• internal audits;
• employee training; and
• emergency response and prevention techniques.
We work in partnership with federal, state and
municipal authorities regarding standards and
compliance on an array of environmental matters,
including air and water quality, waste, hazardous
materials, and mine closure planning.
International Best Practices
(GRI 4.12) Aura Minerals’ commitment to
responsible, sustainable mining includes the
application of the precautionary approach
(GRI 4.11) as embedded in our Environmental and
Sustainability Policy in all stages of the mine-life
cycle; from exploration through pre-development,
development, production and closure planning.
At the operational policy level, Aura Minerals
implemented an integrated management
system based on OHSAS 18001 and ISO 14001
and the voluntary International Cyanide
Management Code (ICMC).
In September 2011, we became a signatory
of the ICMC and São Francisco achieved ICMC
Certification in April 2011. San Andres has
completed its internal compliance audit and is
aspiring to this certification for 2013. The Cyanide
Code does not apply to the Aranzazu Mine or the
Serrote Project.
Mining activities have direct environmental impacts.
Aura Minerals is committed to the mitigation of risk and
minimization of impacts, and to the protection of the
well-being and sustainability of the environment — now
and for future generations.
Environmental and
Sustainability Policy
Our Environmental and Sustainability Policy
provides the framework to meet our goals and
responsibilities whereby we:
• comply with all environmental laws and
regulations;
• promote and ensure employee commitment
and accountability to this policy;
• provide management and supervisors at our
operations with the resources and authority
necessary to ensure best environmental
practices are followed;
• promote strong environmental and
sustainability awareness within our
operations and the local communities;
• work cooperatively with government and
civic leaders, local communities and
institutions and our suppliers to promote and
achieve safe handling use and disposal of all
our material resources and products; and
• promote open communication with
employees, communities and government
on all environmental and sustainability issues
at our operations and on our plans, programs
and performance.
Biodiversity in Brazil
“Mining inherently has a
social and environmental
impact, but Aura Minerals
is making the effort and
providing the necessary
resources to reduce or
mitigate as many of the
impacts as possible.”
MarlenY Reyes
Forestry Supervisor,
San Andres Mine
Respecting
The environment

ENERGY (GRi EN3/EN4)
Energy Consumption
As part of Aura Minerals’ company-wide risk
assessment and optimization strategy, energy
consumption is monitored and evaluated on an
ongoing basis for its direct effect on operational
costs and impact on greenhouse gas emissions
(GHG). Our energy consumption is predominantly
from diesel, followed by purchased electricity.
At present, we are not using as many renewable
energy sources as we would like at our operations,
however the electricity purchased in Brazil comes
predominantly from hydro-electric power, and São
Francisco started using ethanol as fuel for its small
vehicles in 2012.
Energy Reduction
Our biggest source of emissions is diesel consumed
in varying parts of the mining process. As such,
Aura Minerals’ efforts to reduce emissions have
been predominantly focused on diesel. At all
operations we are making efforts to optimize the
logistical aspects of transportation in and out of
the mine as well as ensuring maximum capacity
loads for trucks on every trip.
At São Francisco, we have made considerable
improvements in infrastructure, such as
standardizing the grade of the ramps, expanding
roads to reduce idle times, and where possible
transport fleet has been changed to carry heavier
loads. At all operations we have an ongoing
training program for operators to ensure they are
driving vehicles in the most energy efficient way.
At San Andres, we use 6 generators for power
generation and in 2012 we installed a series of
capacitor banks to optimize the use of fuel. The
result was a 45% reduction from 0.07 lt of diesel/
kWh to 0.4 lt of diesel/kWh produced.
The table below shows our efforts with respect
to energy reduction at the San Andres Mine:
Diesel Energy
consumption generated lt/kWh
2011 1,316,534 18,225,017 0.07
2012 1,532,481 35,735,823 0.04
2012
p Ethanol 0%
p Diesel 77%
p Diesel S10 4%
p Gasoline 0%
p LPG 1%
p Electricity 17% Celebration of Earth Day, São Fransisco, Brazil
At all operations we
are making efforts to
optimize the logistical
aspects of transportation
in and out of the mine
as well as ensuring
maximum capacity loads
for trucks on every trip.
Direct and Indirect Energy
Consumption by Source
(GRI EN3/EN4)
Our energy
consumption is
predominantly from
diesel, followed by
purchased electricity
Fabiano Martins Costa
Respecting
The environment

Aura Minerals Inc - Corporate Responsibility Report 2012

Aura Minerals Inc - Corporate Responsibility Report 2012

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