Canada-based Aris Mining has secured environmental management plan (PMA) approval for the Marmato Lower Mine in Colombia.
The approval of PMA from the Corporación Autónoma Regional del Caldas (Corpocaldas), a regional environmental authority in Colombia, allows the company to develop the mine.
The project involves the development of a new underground mine and a 4,000tpd ore processing facility.
Aris Mining plans to start construction on the new underground mine to allow access to the broader porphyry mineralisation below the current Upper Mine.
According to the estimates, the mine’s upper and lower areas have measured and indicated mineral resources of 6.0 million ounces (moz) of gold. This includes a proven and probable mineral reserve of 3.2moz.
During the operational life of more than 20 years, the Marmato Mine is anticipated to have an average production of 162,000oz a year.
Aris Mining CEO Neil Woodyer stated: “This is a milestone for Aris Mining as it will grow Marmato’s gold production five-fold and, following construction, our Colombian gold production from Segovia and Marmato will be approximately 400,000oz per year.
“This $280m project is fully funded from our current cash balances and the $122m of stream funding from Wheaton Precious Metals. Additionally, our Segovia operations generate significant positive cash flow. The project is scheduled to pour its first gold by the end of Q3 2025.”
The company, which plans for mechanical completion of the new 4,000tpd mill in Q3 2025, has selected Ausenco as the engineering, procurement and construction management (EPCM) contractor for the process plant.
