VANCOUVER, BC, Nov. 28,
2024 /CNW/ - Aris Mining Corporation (Aris Mining or
the Company) (TSX: ARIS) (NYSE-A: ARMN) announces that the
Colombian Ministry of Environment has proposed a 20-day public
consultation on a draft resolution to establish a Temporary Reserve
Area (TRA) in the Santurbán region of the Santander Department,
where the Soto Norte Project, which is 51% owned and operated by
Aris Mining, is located. This resolution seeks to allow the
Colombian Ministry of Environment to assess water resources in the
area and to temporarily suspend the issuance of new environmental
licenses for two years. For clarity, this proposed resolution does
not affect Aris Mining's Segovia Operations, our operations at the
Marmato Mine or the Lower Mine Project, all of which are licensed
and located outside the designated study area.
Neil Woodyer, CEO of Aris Mining,
commented "Aris Mining continues to define its smaller-scale
version of the Soto Norte Project and is moving forward with
environmental and technical studies for completion in mid-2025. Our
redesigned project takes a new approach compared to previous
permitting submissions, featuring scaled-down mining operations and
processing facilities, a reduced environmental footprint, and new
processing options to support local small-scale miners. Notably,
the Soto Norte Project remains several years away from development
and is planned to commence following the completion of the ongoing
expansions of our Segovia and Marmato Mines.
At our other Colombian sites, partnerships with small-scale
miners have delivered tangible community and environmental
benefits. Backed by strong support from local communities in the
Soto Norte area of the Santander Department, we intend to present a
fully redesigned project to the Colombian regulators following
conclusion of our environmental and technical studies. We are
confident that our completed development plan will comply with both
Colombian and international environmental standards.
Our new Soto Norte Project plans align with the draft
resolutions' intent to prioritize environmental protection. The
Soto Norte Project offers a pragmatic solution to reduce existing
harm caused by informal mining activities and supports development
of the local communities."
About Aris Mining
Aris Mining is a gold producer in Latin America, currently operating two mines
with expansions underway in Colombia. The Segovia Operations and the
Marmato Upper Mine produced 226,000 ounces of gold in 2023. Aris
Mining is targeting a production rate of approximately 500,000
ounces of gold per year, following a ramp-up period after the
Segovia mill expansion scheduled for completion in 2025 and the
ramp-up of the new Marmato Lower Mine during 2026. Aris Mining also
operates the 51% owned Soto Norte joint venture, where studies are
underway on a new, smaller scale development plan, with results
expected in mid-2025. In Guyana,
Aris Mining is advancing Toroparu, a gold/copper project. Aris
Mining intends to pursue acquisitions and other growth
opportunities to unlock value through scale and
diversification.
Aris Mining promotes the formalization of traditional miners
into contract mining partners as this process enables all miners to
operate in a legal, safe and responsible manner that protects them
and the environment.
Additional information on Aris Mining can be found at
www.aris-mining.com, www.sedarplus.ca, and on www.sec.gov.
Forward-Looking Information
This news release contains "forward-looking information" or
"forward-looking statements" within the meaning of Canadian
securities legislation. All statements included herein, other than
statements of historical fact, are forward-looking statements,
including, without limitation, statements relating to the purpose,
timing and impact of the proposed TRA, the Company's plans and
proposed timing related to the Soto Norte Project, the benefits of
the Company's partnership model with small-scale minors, compliance
of the Company's revised development plan with environmental
standards and the TRA, the potential economic and environmental
benefits of the Soto Norte Project, anticipated production growth,
timing of the completion of the Segovia mill expansion and the
ramp-up of the Marmato Lower Mine. Generally, the forward-looking
information and forward looking statements can be identified by the
use of forward looking terminology such as "plans", "expects" or
"does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", "will continue" or "believes", or variations of such
words and phrases or state that certain actions, events or results
"may", "could", "would", "might" or "will be taken", "occur" or "be
achieved". The material factors or assumptions used to develop
forward looking information or statements are disclosed throughout
this news release.
Statements concerning mineral resources and mineral reserve
estimates may also be deemed to constitute forward looking
information to the extent that they involve estimates of the
mineralization that will be encountered.
Forward looking information and forward looking statements,
while based on management's best estimates and assumptions, are
subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance
or achievements of Aris Mining to be materially different from
those expressed or implied by such forward-looking information or
forward looking statements, including but not limited to those
factors discussed in the section entitled "Risk Factors" in Aris
Mining's Annual Information Form dated March
6, 2024 which is available on SEDAR+ at
www.sedarplus.ca and in the Company's filings with the SEC at
www.sec.gov. These factors should be considered carefully, and
readers should not place undue reliance on the Company's
forward-looking statements. The Company has no intention and
undertakes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
SOURCE Aris Mining Corporation