Aris to build new $280m Marmato underground mine
Toronto-listed Aris Mining has received approval from a regional environmental authority in Colombia, permitting the development of the Marmato Lower Mine.
Construction of the new underground mine and 4 000 t/d ore processing facility, at a cost of $280-million, will provide Aris access to the wider porphyry mineralisation below the currently operating Upper Mine.
The Marmato mine is expected to deliver average production of 162 000 oz/y over nearly 20 years from the mineral reserves.
The Upper and Lower Mine have a measured and indicated mineral resource of six-million ounces of gold, which includes proven and probable mineral reserves of 3.20-million ounces.
The new mine will grow Marmato’s gold production five-fold, reports CEO Neil Woodyer.
“Following construction, our Colombian gold production from Segovia and Marmato will be approximately 400 000 oz/y,” he says.
Aris will fund the construction costs from current cash balances and the $122-million of stream funding from Wheaton Precious Metals.
The project is scheduled to pour its first gold by the end of the third quarter of 2025.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation

















