The Cerro Blanco project has faced challenges from the Guatemalan government, which disputed the January permit amendment allowing its transition to an open-pit mining operation.
Bluestone is 27%-owned by the Lundin family trust and had initially planned the $411 million gold project near the border with El Salvador.
Cerro Blanco aims to yield 2.7 million oz. of gold over 14 years, based on a 2022 feasibility study. It hosts measured and indicated resources of 63.5 million tonnes at 1.5 grams gold and 6.6 grams silver per tonne for 3 million oz. and 13.5 million oz. of the metals, respectively.
Aura stated that upon closing the transaction, it intends to evaluate alternatives for the potential future development of Cerro Blanco.
“Cerro Blanco stands as a world-class deposit that has encountered both social and institutional hurdles. We are confident that, over the next few years, by integrating it with…
