Aris Gold publishes guidance for Colombia assets

Aris Gold published consolidated 2023 guidance of 230,000oz-270,000oz of gold for its Colombian Segovia and Marmato assets, with all-in sustaining costs of US$1,050-US$1,150/oz.

Segovia produced 210,163oz last year and Marmato 25,216oz.

Mining regulator ANM approved in November the Marmato expansion plan, expected to yield 162,000oz/y on average over a 20-year mine life.

Segovia’s exploration budget is US$17mn and involves 84,500m of drilling, including 29,000m focused on increasing mineral reserves and mine life, 39,000m for resource extension at producing mines, and 16,500m in high priority strategic vein targets adjacent to current operations.

At the Marmato mine, a focused exploration drilling budget of US$2 million is planned, including 7,500m of drilling to optimize extraction from currently defined vein structures.

In 2022, Aris merged with GCM Mining, which operates the Soto Norte project, whose environmental licensing process should be finished in 2024, after the presentation of a new environmental assessment study to licensing authority ANLA this year.