Aris Mining Corporation (TSX: ARIS; NYSE-A: ARMN) announced the pricing of $450 million in senior notes at an 8.000% interest rate due 2029. The offering, expected to close on October 31, 2024, will allow the company to redeem its outstanding 6.875% senior notes due in 2026 and support working capital and other corporate purposes.

According to Aris Mining, the redemption of the 2026 notes remains conditional on the completion of this new debt offering. This financial maneuver is part of the company’s strategy to manage its capital structure by refinancing higher-cost debt. The notes will be offered to qualified institutional buyers in the United States under Rule 144A of the Securities Act of 1933 and to non-U.S. investors under Regulation S. In Canada, the notes will be offered through a private placement using specific prospectus exemptions. The offering is not registered under the Securities Act, and no sale will be made in jurisdictions where it would be deemed unlawful.

Company Overview and Recent Developments

Aris Mining operates two gold-producing assets in Colombia, the Segovia Operations and the Marmato Upper Mine, which jointly produced 226,000 ounces of gold in 2023. As part of its growth strategy, Aris Mining is pursuing operational expansion with plans to achieve a production rate of approximately 500,000 ounces per year by the second half of 2026. The anticipated increase hinges on the Segovia mill expansion, scheduled for completion in Q1 2025, and the initial gold pour at the Marmato Lower Mine, expected in late 2025.

Aris Mining also holds a 51% stake in the Soto Norte joint venture, where feasibility studies for a scaled-back development plan are ongoing, with results anticipated by early 2025. In Guyana, the company is advancing its Toroparu project, which contains both gold and copper resources. Aris Mining’s broader growth strategy includes potential acquisitions and other development projects aimed at increasing operational scale and geographic diversification.

Aris Mining additionally supports formalizing traditional mining operations into structured partnerships. This approach, according to the company, facilitates safer and legally compliant mining practices, improving conditions for miners and mitigating environmental impacts.

Italian authorities, in cooperation with Colombian and European law enforcement, announced the arrest of fugitive Luigi Belvedere in Medellín, Colombia. Belvedere, a wanted drug trafficking suspect on Italy’s high-risk fugitive list, faces an 18-year prison sentence in Italy for his alleged involvement in international narcotics smuggling. His capture follows an investigation led by Italy’s Squadra Mobile of Caserta, Naples-based SISCO, and Italy’s Central Operational Service (SCO), in conjunction with Colombian investigators and supported by Europol and Italy’s Central Directorate for Anti-Drug Services (DCSA).

According to Italian police, Belvedere was tracked down through intelligence gathering that included data obtained from a popular messaging platform. Authorities allege Belvedere acted as an intermediary between Colombian drug cartels and Italy’s Camorra crime syndicate, specifically the Casalesi clan, which operates out of Naples. The Italian Interior Ministry reported that Belvedere, originally from Caserta, specialized in brokering cocaine shipments between Colombia and Europe.

Italian and Colombian law enforcement conducted the arrest with Italian police officers dispatched to Colombia. The Italian police also released an image of Belvedere at the gravesite of Pablo Escobar, the infamous Medellín cartel leader killed in a police operation in 1993, signaling an apparent connection to Medellín’s historical drug trafficking networks.

Belvedere, approximately 32 years old, had been a fugitive since 2020. His apprehension underscores ongoing collaboration between Colombian authorities, Europol, and Italian anti-drug units aimed at dismantling drug trafficking networks linking South America and Europe. The Italian police noted his role in coordinating significant drug shipments from Latin America into Europe, leveraging encrypted communication tools to evade detection.

The arrest of Belvedere comes shortly after the detention of Norwegian suspect Pazooki Farhad, alias “The Professor,” accused of leading a separate narcotics ring trafficking cocaine from South America to Europe using sailboats. Farhad was captured at Bogotá’s El Dorado Airport in July, while his associate Bernsten Bjarte was arrested in Barranquilla.

Both arrests highlight the Colombian and international law enforcement community’s focus on dismantling Europe-bound drug trafficking operations originating from Colombia..

Photo courtesy Italian State Police

Avianca has announced the opening of ticket sales for its new direct route between Bogotá and Havana, set to commence on December 16. The service, which will operate daily, aims to expand the airline’s connectivity options for passengers traveling within Latin America and the Caribbean.

Avianca will operate the Bogotá–Havana route using Airbus A320 aircraft, each with a 180-passenger capacity. The daily flights are projected to offer over 2,500 seats weekly between the two cities. Passengers can now purchase tickets through Avianca’s website, mobile app, physical sales locations, or travel agencies.

David Alemán, Avianca’s Sales Director for Colombia and South America, stated that this new route will enhance international connectivity, allowing travelers to reach Havana via Bogotá. “This direct route provides over 2,500 weekly seats, supporting our commitment to make air travel accessible to more people,” Alemán noted.

Route Itinerary: Bogotá–Havana

Frequency: Daily, starting December 16

U.S. Travel Restrictions

U.S. citizens, residents, or any individual departing from or transiting through the United States to Cuba are prohibited from traveling for tourism purposes. U.S. persons may only travel to Cuba if they fall under one of 12 categories permitted by the U.S. government or hold a specific license. Further details on permitted travel categories can be found in the U.S. regulations here.

Medellín’s City Hall released data from January to August, showing a 26% increase in the number of foreign tourists visiting the city. This surge was reflected by arrivals at Medellín’s José María Córdova Airport, which saw a surge in traffic, welcoming 1,192,623 passengers this year, a significant increase from the 950,743 tourists recorded in 2023.

The local government also revealed that 95.6% of these trips were for tourism (including family visits), while the remaining percentages were for business, events, or medical treatments. These figures have solidified Medellín’s position as the second most connected city in Colombia, with 5,452 monthly flights, and 65.9% of them are domestic flights.

However, Medellín continues to battle against “sex tourism.”

In September of this year, six motels and hotels were temporarily closed due to irregularities. So far in 2024, the local government carried out 97 inspections of establishments, 28 visits to commercial sites, and issued 25 temporary suspension orders.

Also, between January and August, Medellín assisted 139 minors at risk of exploitation, with 59 of them entering legal processes for the restoration of their rights.

Photo provided by the City Hall of Medellín

Recently, the local government extended curfews for minors in high-risk areas until December. Manuel Villa Mejía, Secretary of Security, stated: “Today, the number of reports has increased, and we want to emphasize that reporting these crimes is truly about protecting children; we urge the public to stay vigilant so that together, we can safeguard them.”

What is the protocol for handling sexual offenses?

Medellín has activated the phone line 324 574 3645 for reporting suspected cases of
child sexual exploitation, which alerts a special response team. Additionally, the ‘Parceras’ helpline at 324 574 3647 is available as a support channel for victims of violence or sexual exploitation, where they can receive professional orientation.

As of September 23, marked as the International Day Against Sexual Exploitation and  Human Trafficking, City Hall reported that 139  minors have received support for cases of sexual violence in Medellín, with arrests for this crime increasing by 160%. Finally, Captain Jeyson Rodríguez, Head of the Childhood and Adolescence Division of the Metropolitan Police of Medellín, added: “We’ve received a total of 22,000 calls to the 123 line, compared to 13,271, specifically related to child and adolescent protection requests.”

Above Photo: Alcaldia de Medellín

As a result of Gustavo Petro revealing clasified information about the Pegasus spyware, the President of the Egmont Group of Financial Intelligence Units, Elżbieta Franków-Jaśkiewicz, confirmed the suspension of Colombia from the program, and said: “Due to recent actions involving FIU Colombia and the unauthorized disclosure of information provided by one of our members, the Egmont Group Heads of FIU have confirmed the suspension of FIU Colombia’s access to the Egmont Secure Web (ESW).

The Egmont Group is a global organization of 177 Financial Intelligence Units (FIUs) that supports international efforts to combat money laundering, terrorist financing, and related crimes.

In response, the Petro acknowledged that he shared this information, but he described it as “the cost of truth.” He also stated that: “Now Colombia knows that an official document from the Israeli agency IMPA, which I declassified under Colombian intelligence law and in defense of human rights, indeed shows the dates, method, and bank where 11 million dollars were deposited to purchase the Pegasus communication interception software by DIPOL (Police Intelligence Department) of Colombia during the Duque administration.”

Luis Fernando Llinás, Head of the Financial Information and Analysis Unit (UIAF), said that the organization has been cautelous and professional with the information it handles. He added that “the role of the UIAF is simply to verify whether there were any operations or financial transactions that could have led to the presence of software from an Israeli company, which is considered by the National Defense as a weapon to fight terrorism, in the country or not.”

Nonetheless, in an interview, Linás confirmed that this information couldn’t be shared and that Colombia had to ask for permission from Israel in order to do so.

What does this measure mean for Colombia?

The organization provides a secure platform for FIUs to exchange financial intelligence and expertise, promoting international cooperation. This platform, the the Egmont Secure Web (ESW) is used by 177 members to share information related to money laundering,  and terrorist financing.

Without access to this platform, Colombia is isolated from one of the main sources of global financial intelligence, which significantly limits the country’s ability to track illicit financial flows and collaborate on international investigations.

Elżbieta also said that: “Effective international cooperation is paramount to the success of the fight against money laundering, associated predicate offenses, and terrorist financing. The Egmont Group’s commitment to international cooperation is fundamental. It is built on a solid foundation of mutual trust, ensuring that member Financial Intelligence Units (FIUs) comply with high standards of accountability towards the protection and confidentiality of the financial intelligence being exchanged.”

The organization stated that the measure will remain in effect while the institution continues to assess the situation according to its internal procedures and reminded that “FIUs must remain free from any undue political, government, or industry influence or interference which might compromise its operational independence and put fellow member FIUs at risk of exposure to sensitive data breaches or breaches of confidentiality”.

Above photo: Archive Presidency of Colombia

The acquisition of 40 water tank trucks by Colombia’s Disaster and Risk Management Unit (UNGRD) has become the biggest scandal so far during Colombian President Gustavo Petro’s administration.

Under the Presidential Decree 2113 of 2022, a contract was signed between the UNGRD and the company Impoamericana Roger S.A.S., which delivered the vehicles in November of 2023. As of today, the trucks remain parked at two military bases: one in Uribia and another in Riohacha, both towns in the arid Colombian department of La Guajira. The vehicles cost more than $46.8 billion pesos, over $20 billion pesos more than the market price of the trucks.

Allegations are that the inflated contracts were issued to purchase the trucks from Impoamericana Roger so that the overpayments from the government were used to contribute to a giant slush fund used to bribe legislators and other politicians, to buy support for Petro’s legislative agenda, that has struggled to gain support from Colombia’s congress. Even worse, the looted funds were in part, earmaked to bring water to children in Colombia’s neglected La Guajira region literally dying of thirst from the severe drought earlier in the year.

This scandal exposed a whole criminal operation orchestrated by those involved to loot the entity’s resources, though bag-man Olmedo Lopez insists that President Gustavo Petro was unaware of the massive scheme involving multiple segments of his administration.

Sneyder Pinilla and Olmedo López. Key figures in this controversy. Photo: UNGRD

What has happened:

September 2023:

The company that bought the water tanks, Impoamericana S.A.S, was previously owned by Elmer Francisco Celis Domínguez.In September 2023, one month before closing the deal for the tanker trucks, Celis Ramírez was murdered in Cúcuta by hitmen who stole 13 million from him in the Parque 300 Años. The victim had appointed Roger Alexander Pastas Fuentes as manager, who is the current legal representative and ‘sole owner’ of the company that sold the tanker trucks.

It was under Celis’s leadership that Comercializadora Agrodomínguez S.A.S. changed its corporate name to Impoamericana Roger S.A.S. During this period, the company also expanded its business activities, as noted in its Unique Business Registry (Rues).

February 2024:

March 2024:

April / May 2024:

June / July 2024: 

Collective Mining Ltd. (NYSE: CNL, TSX: CNL) has reported results from early-phase drilling at the Plutus Target, part of its Guayabales Project in Caldas, Colombia. The drilling program, which spans 40,000 meters across five rigs, includes radial tests at Plutus to delineate the porphyry system’s mineralized zones. Notably, initial results highlight gold-copper intersections from surface, with indications of a potentially richer core to the north and at greater depths.

Core Photo Highlights of Mineralization in PSC-1, PSC-2 and PSC-3

Key results from the initial holes include:

• PSC-1: 328.05 meters at 0.31 g/t gold equivalent (AuEq) from surface
• PSC-2: 199.60 meters at 0.33 g/t AuEq from surface, including 38.45 meters at 0.60 g/t AuEq from 21.00 meters
• PSC-3: 275.05 meters at 0.30 g/t AuEq from 33.95 meters, including 20.50 meters at 0.57 g/t AuEq from 40.85 meters
• PSC-4: 131.55 meters at 0.67 g/t AuEq from 46.70 meters, including 36.75 meters at 1.05 g/t AuEq from 84.35 meters

The company’s early geological models suggest a higher-grade mineralization zone northwest of the current drill area. Collective Mining plans to launch deeper drilling upon completion of the pending assays for the remaining two holes.

Plutus, located east of the Apollo system, spans roughly 1,000 by 750 meters and is defined by copper, gold, and molybdenum soil anomalies. The recent findings are part of Collective’s ongoing strategy to expand its portfolio of high-grade systems within the Guayabales Project, which includes the flagship Apollo system known for its significant porphyry potential.

For full details, visit Collective Mining’s website.

Plan View of the Guayabales Project Highlighting the Plutus Target Area

Headline image: Plan View of the Plutus Target Highlighting Drill Results Announced in This Release and its Proximity to the Marmato Mining Complex

The 15th annual gathering of rum enthusiasts and members of the spirits trade, Miami Rum Renaissance Festival returns to Coral Gables November 9–11 with a diverse program of rum appreciation.

The spectacular rum weekend begins on Saturday, November 9, at the Courtyard By Marriott in Coral Gables with a series of in-depth seminars dealing with rum production, tiki cocktails and a bit of rum history, sailing the high seas with the British Royal Navy.

This year’s seminars include “The Cave Above The Clouds,” focusing on production and aging techniques of Guatemala’s legendary cane spirits; “Tiki Evolution,” which explores the historic rums and iconic cocktails of the legendary Mai-Kai Polynesian Restaurant and Molokai Bar; and the creation of “Mister Fogg,” discussing the re-birth of an authentic and historically accurate Navy rum by Alexandre Gabriel.

On Sunday, November 10, the rum education weekend continues with a Grand Tasting event at the historic Coral Gables Woman’s Club from 12:30 to 5pm, featuring several hundred rums on display for sampling, with exhibits by several dozen rum companies and a Caribbean-theme catering menu with special offerings made to pair with the rum.

On Monday, November 11, a special session is held at the Woman’s Club from 12:30 to 5pm just for members of the spirits trade, attracting bartenders, food and beverage managers, importers, brokers, distributors, buyers for liquor store chains, and liquor retailers. Also, members of the spirits press will be in attendance.

Advance tickets are available online for $49 to $59 before Friday, November 1. After that date, and at the door, ticket prices are slightly higher.

For more details and ticket information, call 707-278-6736 or visit https://www.rumrenaissance.com/

Rum Renaissance Festival (photo: Loren Moss)

The Colombian government is rolling out coordinated campaigns to raise awareness of Law 2047 of 2020, passed during the previous administration, which prohibits the testing, importation, exportation, manufacturing, and commercialization of cosmetic products or ingredients that have been tested on animals. The initiative is being led by the Ministry of Commerce, Industry, and Tourism (MinCIT) and the Ministry of Information and Communications Technology (MinTIC), with support from private sector companies.

The ministries are organizing working groups aimed at identifying effective methods to disseminate information about the law, which went into effect in 2020. These efforts will include collaboration with private enterprises to ensure broader understanding and compliance with the legislation.

Focus on Law Compliance and Alternatives

The primary goal of these campaigns is to make both the public and private sectors more aware of the legal requirements regarding animal testing in the cosmetics industry. To date, MinCIT and MinTIC have begun distributing this information through various media channels.

In parallel, the government is developing incentives to encourage the adoption of alternative testing models. The Ministry of Science, Technology, and Innovation has announced funding for research into alternatives, with scholarships available annually over the next 15 years.

Exceptions to the Ban

The law outlines two exceptions where animal testing may still be permitted. These include cases where an ingredient must undergo safety testing due to health or environmental risks and no alternative methods are available, and when animal testing has been conducted for purposes unrelated to cosmetic use.

Penalties for Non-Compliance

Companies or individuals found violating the law will face penalties imposed by the National Institute for Food and Drug Surveillance (Invima). Fines range from 133 to 50,000 times the Colombian minimum monthly wage.

The government’s efforts are aimed at fostering innovation in the cosmetics industry, encouraging businesses to move away from conventional testing methods, while offering support to those that comply with the new regulations.

Rabbit image by 🌼Christel🌼 from Pixabay

Colombia’s non-mining exports reached $14.25 billion between January and August 2024, reflecting a 7.4% increase compared to the same period in 2023, according to data from the Ministry of Commerce, Industry, and Tourism, based on figures from DANE (National Administrative Department of Statistics). Export volumes also rose during this period, with 6.03 million tons shipped, representing a 9.3% increase year-over-year.

The sustained growth in non-mining exports during 2024 aligns with global trade trends noted by the World Trade Organization (WTO), which has observed a recovery in trade activity during the third quarter of the year, following weakened demand in 2023.

Minister of Commerce, Industry, and Tourism, Luis Carlos Reyes Hernández, noted the importance of these figures, stating that the government continues working closely with businesses in various regions to support their internationalization efforts.

Breakdown of Key Exports and Sectors

The growth in Colombia’s non-mining exports has been driven by increased demand for both manufactured goods and agricultural products. Among the standout performers were:

• Liquid dielectric transformers: Up 126.6% compared to the same period in 2023
• Passenger vehicles (buses 10+ persons): Up 109.4%
• Cocoa and cocoa products: Up 103.7%
• Tahiti limes: Up 59.5%
• Bananas: Up 47.5%
• Polyvinyl chloride (PVC): Up 33.7%
• Hass avocados: Up 33.2%
• Beauty products: Up 26.6%
• Perfumes and colognes: Up 23.8%
• Kitchen and bath textiles: Up 19.9%
• Hair care products and shampoos: Up 12.5%
• Tilapia fillets: Up 11.6%
• Flowers and coffee: Up 10.8% and 10.4%, respectively

Regional Contributions to Export Growth

Eight of the top ten exporting departments, accounting for 73.9% of non-mining exports, showed significant growth in 2024. The largest contributors included:

• Bogotá: Up 14.2%
• Antioquia: Up 6.1%
• Cundinamarca: Up 9.6%
• Bolívar: Up 12.1%
• Caldas: Up 2.1%
• Huila: Up 34%
• Risaralda: Up 57.4%
• Magdalena: Up 9.2%

Key Export Destinations

Several international markets also contributed to the increase in non-mining exports. Sales to the United States grew by 6.9%, while exports to Mexico surged by 20.7% and Venezuela by 46.3%. Other notable increases were seen in Belgium (34.4%) and Germany (31%).

These results reinforce the positive trajectory of Colombia’s non-mining export sector, supported by growing demand across various industries and key markets worldwide.

Above photo: A banana truck in Caldas, Colombia (Loren Moss)