Aris Mining Reports Positive 2024 Results

Aris Mining Corporation has reported its financial and operational results for the fourth quarter (Q4) and full year ending December 31, 2024. In Q4 2024, Aris Mining achieved a net income of $22 million USD and earnings before interest, taxes, depreciation, and amortization (EBITDA) totaling $67 million USD.

Operational Highlights

• Gold Production: The company reported its highest quarterly gold production for 2024, with 57,364 ounces produced during Q4.
• Cost Management: At the Segovia operations, the all-in sustaining cost per ounce sold (AISC/oz) decreased to $1,485 in Q4, resulting in an AISC margin of $58 million USD, a 32% increase from the previous quarter’s $44 million USD.

Project Developments

• Segovia Expansion: The expansion of the Segovia processing facility remains on schedule, with commissioning anticipated in the second quarter of 2025.
• Marmato Mine Expansion: Aris Mining has completed assessments to increase the in-construction Marmato Lower Mine capacity by 25%, raising it from the initially planned 4,000 tonnes per day (tpd) to 5,000 tpd. This adjustment has led to an updated construction completion cost of $290 million USD, including accelerating certain project components into the initial capital phase. The production ramp-up at Marmato is scheduled to commence in the second half of 2026.

Financial Position

As of December 31, 2024, Aris Mining reported a cash balance of $253 million USD, bolstered by increased cash flow generation and the refinancing of its senior notes. Aris Mining Corporation operates the Segovia and Marmato mines in Colombia.

The Marmato Mine, located in Caldas, Colombia, is an underground operation with a current mill capacity of 1,250 tpd. The ongoing expansion project aims to develop the Marmato Lower Mine, which will access wider porphyry mineralization below the existing Upper Mine.

This expansion includes constructing a new 4,000 tpd processing facility, with plans to increase capacity to 5,000 tpd, and is expected to reach full production in 2026.
The company’s strategic initiatives, including the Segovia expansion and Marmato Lower Mine development, are central to its growth objectives. The financial outcomes of Q4 2024 reflect these ongoing efforts.

Aris Mining in Segovia. Photo credit: Aris Mining Segovia/Facebook.