ARIS MINING ANNOUNCES COLOMBIAN MINISTRY OF ENVIRONMENT RESOLUTION RELATED TO THE SANTURBÁN REGION
Rhea-AI Summary
Aris Mining (TSX: ARIS, NYSE-A: ARMN) reports that the Colombian Ministry of Environment has finalized its public consultation process regarding a Temporary Reserve Area (TRA) in the Santurbán region, where the Soto Norte Project is located. The resolution, effective March 4th, enables a two-year environmental license suspension for water resource evaluation.
The company confirms this resolution does not impact their Segovia Operations, Marmato Mine, or Lower Mine Project, which are already licensed and outside the study area. Aris Mining continues developing a smaller-scale version of the Soto Norte Project, expected to complete by mid-2025. The redesigned project features reduced mining operations, minimized environmental impact, and includes processing options for local small-scale miners.
Positive
- Existing operations (Segovia, Marmato, Lower Mine) unaffected by resolution
- Proactive redesign of Soto Norte Project with reduced environmental impact
- Integration of local small-scale miners into operations plan
Negative
- Two-year suspension of environmental licensing in Soto Norte Project area
- Project development delayed several years
- Uncertainty around final environmental approval
News Market Reaction – ARMN
In the trading session that priced this news, ARMN gained 1.75%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
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Neil Woodyer, CEO of Aris Mining, commented "Following the start of the consultation process for the proposed TRA that we announced in November 2024, Aris Mining has continued to advance environmental and technical studies of a smaller-scale version of the Soto Norte Project, with completion expected by mid-2025. Once finalized and with significant local support for the project from the Soto Norte community, we look forward to engaging with the Ministry of Environment and its new leadership, as our redesigned project aligns with the resolution's focus on environmental protection. We are taking a new approach compared to previous permitting submissions, featuring scaled-down mining operations and processing facilities, a reduced environmental impact, and new processing options to support local small-scale miners. Building on our successful partnerships with small-scale miners at our other Colombian mine sites, the Soto Norte Project offers a responsible solution to reduce existing harm from unauthorized mining activities in the Santurbán region."
The Soto Norte Project remains several years away from development and is planned to commence following the completion of the ongoing expansions of our
About Aris Mining
Founded in September 2022, Aris Mining was established with a vision to build a leading
Aris Mining operates two underground gold mines in
Aris Mining intends to pursue acquisitions and other growth opportunities to unlock value through scale and diversification.
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 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
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.
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SOURCE Aris Mining Corporation