Aris Mining (TSX: ARIS) this morning reported third quarter production of 53,608 ounces of gold across its two mining operations. The figure represents a 9% quarter over quarter increase in production.
Production at Segovia totaled 47,493 ounces during the quarter, while the remaining 6,115 ounces of production came from the Marmato Upper Mine.
The production increase is credited to two expansion products that are currently underway. At Segovia, the company has seen the first phase of expansion completed, resulting in the commissioning of an expanded receiving area for mill feed. Phase two of the expansion, which involves the installation of a second ball mill, is said to be underway, with a schedule completion in the first quarter of 2025.
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The expansion project is expected to result in annual production of 300,000 ounces of gold from Segovia by 2026. Production in 2024 is estimated at 195,000 ounces, while production is expected to scale to 250,000 ounces in 2025.
At Marmato, production of the lower mine is said to be on schedule, with the site access road and portal face now complete, with prepatory work being conducted for the construction of the twin declines. Production here is slated to reach an average of162,000 ounces over a 20-year mine once construction of the lower mine is complete.
“We are pleased to share the continued progress of our Segovia and Marmato expansion projects, which position Aris Mining to achieve an annual gold production rate of approximately 500,000 oz in the second half of 2026,” commented Neil Woodyer, CEO.
Aris Mining last traded at $5.97 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
