Aris Mining Increases Segovia Gold Mineral Reserves by 75% — Commodity Comment
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Published: Nov. 27, 2023 at 8:06 a.m. ET
By Robb M. Stewart
Aris Mining increased the estimated high-grade mineral reserves for its Segovia operations in Colombia by 75%, which, based on its current operating model will extend the reserve-only life of the mine to nearly seven years.
On reserves increase:
The…
By Robb M. Stewart
Aris Mining increased the estimated high-grade mineral reserves for its Segovia operations in Colombia by 75%, which, based on its current operating model will extend the reserve-only life of the mine to nearly seven years.
On reserves increase:
The gold producer said Monday the reserves at Segovia increased to 1.3 million ounces of the precious metal at 11.63 grams a metric ton.
On expansion plans:
The company said that based on increased mineral resource and reserves estimates, it is implementing a small-scope project to increase the processing capacity by 50% to 3,000 tons per day at the Maria Dama plant by utilizing a previously purchased ball mill that is already on-site.
“This creates the potential to gradually increase annual gold production from 200,000 to 300,000 ounces, as we fill the extra capacity by increasing our mining rates,” Aris Mining said.
The capacity of the Maria Dama processing plant is currently 2,000 tons per day following an expansion project in 2022. It estimated the costs for the plant expansion at $11 million, with completion expected by early 2025.
Write to Robb M. Stewart at robb.stewart@wsj.com
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