Aura Minerals Inc., the mining company registered in the British Virgin Islands, announced that on November 25, 2019 the equipment of Incobe, the main contractor at the company’s San Andres Mine in Honduras, was seized by local authorities in compliance with a court order. The wholly-owned subsidiary of the BVI company, Minerales de Occidente, S.A. de C.V., owns the surface and mineral rights at the San Andres mine. The reasons for the seizure are wholly unrelated to Aura or its contractor’s work at the mine.
On December 3, 2019, BVI company’s subsidiary was officially notified on the seizure. Also, on that day it signed Memorandum of Understanding with Constructora Cordon’s Heavy Equipment S. de R.L., the company in Honduras, which is mobilizing equipment to resume production at the San Andres mine. This is expected to start on December 6, 2019.