Rising Canadian gold producer Aris Mining Corp has ordered more than US$26 million worth of underground mining equipment from Swedish manufacturer Sandvik for deployment at its Marmato gold mine in Colombia, where it is progressing a $250 million-plus expansion.
Sandvik said deliveries of underground trucks, loaders and drill rigs would start this quarter and continue over the next 12 months.
Toronto and New York-listed Aris, which has a current market value around $4 billion, has the high-grade, cornerstone Segovia mine in Colombia contributing most of its circa-260,000-ounces annual gold output. A new decline to open up underground access and a CIP processing plant are expected to increase Marmato’s production from less than 29,000oz in 2025 to 35,000-50,000oz this year and much higher levels beyond 2026.
Aris has said Marmato, in Caldas about 80km from Medellin, can average about 200,000ozpa over its projected 20-year mine life. Measured and indicated resources are currently put at c6Moz grading 3gpt gold.
“We expect consolidated production of 300,000-to-350,000oz [in 2026], supported by continued ramp-up at Segovia and increasing production from Marmato from Q4 2026 onwards, where active mining in the wider porphyry areas is already underway, materially de-risking the project,” Aris CEO Neil Woodyer said in January this year.
With expansions underway the company was targeting an annual production rate of 500,000oz, driven by commissioning of a second mill at Segovia and the new CIP plant at Marmato which is scheduled to produce gold expected in the December quarter this year.
Aris said this month development of a new underground decline to Marmato’s Bulk Mining Zone was nearly half complete and on track for completion in Q3 this year.
“The new decline will significantly improve access and haulage efficiency, enabling substantially higher mining rates and lower costs as processing capacity expands,” the company said.
“An underground crosscut connecting to the new decline is expected to be complete in Q2 2026 providing additional access to the Bulk Mining Zone and positioning the mine for a smooth production profile increase.”
