Jaguar Mining Inc., the operator of two Brazilian gold mines, filed for bankruptcy protection in Canada as it tries to restructure its debt.

Jaguar started proceedings under the Companies’ Creditors Arrangement Act in Ontario, the Toronto-based company said today in a statement.

The company said its recapitalization plan has the support of bondholders who collectively hold about 93 percent of Jaguar’s 4.5 percent convertible notes due Nov. 1, 2014, and 5.5 percent notes due March 31, 2016.