Aris Mining (TSX: ARIS; NYSE-AM: ARMN) forecasts doubling its gold output in Colombia to 400,000 oz. next year by expanding operations at its Marmato and Segovia mines, according to founder and CEO Neil Woodyer.
The company is to spend US$280 million to boost Marmato’s output to 170,000 oz. from 25,000 oz. gold and increasing Segovia’s capacity to 300,000 oz. gold from 200,000 ounces
Part of the company’s work in Colombia entails formalizing about 3,000 artisanal miners at its operations. Woodyer says Colombia offers “astronomic gold potential.” “By working with small-scale miners, we bring them into the economy, improving recovery rates and reducing mercury use,” he told The Northern Miner’s International Metals Symposium in London on Dec. 2.
These partnerships haveimproved recovery rates to 95% from 45%. With this model and high-grade reserves, Aris plans to reach 400,000 oz per year and secure its position as a mid-tier producer, Woodyer said.
Watch the full discussion below, moderated by The Northern Miner’s interim editor-in-chief Colin McClelland.
JV videos are sponsored content in arrangement with The Northern Miner.
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