Mining News
Aris Mining produces 235 koz of gold in 2022, focuses on generating 'significant' cash flow in 2023
(Kitco News) - On Monday, Aris Mining (TSX: ARIS) announced 2022 gold production of 235,379 ounces from its two operations in Colombia, the Segovia Operations and the Marmato Upper Mine.
In 2023, the company expects to deliver consolidated gold production and cost guidance of between 230,000 and 270,000 ounces with all-in sustaining costs per ounce of between $1,050 and $1,150.
CEO Neil Woodyer commented, "Our Segovia Operations delivered full year production of 210,163 oz and met 2022 guidance of between 210,000 and 225,000 oz. Our Marmato Upper Mine produced 25,216 oz during 2022, while the site advanced the Marmato Lower Mine expansion project in parallel. Our significant achievements in 2022 also included strengthening and expanding our business with the merger of GCM Mining and Aris Gold and becoming the operator of the Soto Norte joint venture.
"Looking ahead, we are focused on generating significant cash flow from our current operations with 2023 gold production guidance of between 230,000 and 270,000 ounces at an AISC/oz of between $1,050 and $1,150, expanding our partnerships with artisanal and small-scale miners in alignment with the vision of the Colombian government, and implementing our growth plan from a pipeline of high-quality projects. During 2023, we also plan to invest US$19 million in exploration programs focused on increasing mineral reserves and extending our life-of-mine plans."
In Colombia, Aris Mining operates several high-grade underground mines at its Segovia Operations and the Marmato Mine. Aris Mining also operates the Soto Norte joint venture, where environmental licensing is advancing to develop a new underground gold, silver and copper mine.
In Guyana, Aris Mining is advancing the Toroparu Project, a gold/copper project. Aris Mining said it plans to pursue acquisition and other growth opportunities to unlock value creation from scale and diversification.
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Endeavour Mining produces 1.4Moz of gold in 2022, achieves top end of 2022 guidance |
