Aris Mining Reports Q3 2026 Production

Aris Mining Corporation reported third-quarter 2026 gold production of 69.3 koz, a decline from 73.7 koz in the second quarter and 74.3 koz in the first quarter of 2026. Year-to-date production for 2026 reached 217.3 koz, representing a 16% increase from the 186.7 koz produced in the same period of 2025. This total included 194.4 koz from Segovia, up 18.1%, and 22.9 koz from Marmato, up 4.1%.

During the quarter, Aris sold 68.4 koz of gold at an average realized price of approximately $4,204/oz. These sales generated Q3 revenue of approximately $287 million and brought year-to-date revenue to over $972 million. The company held $419 million in cash as of September 30, 2026, which included $42 million from the third and final Marmato construction funding instalment from Wheaton Precious Metals.

Management stated that the company remains on track to meet the lower end of its 2026 production guidance, which ranges from 300,000 to 350,000 ounces. At Marmato, the Cascabel 3 filtered tailings facility was commissioned, while four weeks of flotation plant downtime for upgrades contributed to the lower third-quarter output. Flotation capacity at Marmato increased to 1,250 tpd following the refurbishment of the primary ball mill and the addition of a regrind mill and Knelson concentrator. The 5,000 tpd CIP plant remains on schedule for first gold in the fourth quarter of 2026.

At Segovia, owner-mined tonnes increased by approximately 23% from the first to the third quarter. Constraints on explosives access with an external mining partner were resolved in September. Regarding development projects, the preparation of the Soto Norte ESIA for community engagement is complete, the ANM approved the technical mine plan, and the Toroparu PFS remains on track for the fourth quarter of 2026.

Aris Mining Corporation (ARIS) released a production update rather than an earnings report, meaning the announcement contained no new data on AISC, EBITDA, net income, operating cash flow, or capex. The company’s full Q3 financial results are scheduled for release around November 4, 2026.

The update highlighted a decline in output, with Q3 production falling 5.8% quarter-over-quarter and 6.7% from Q1. Consequently, management narrowed its 2026 production guidance to the lower end of the previously stated 300,000 to 350,000 ounce range. At the Marmato mine, Q3 production dropped 37.6% quarter-over-quarter to 5,800 ounces, down from 9,300 ounces. This decrease was driven by a planned four-week flotation downtime associated with the Cascabel 3 transition.

Revenue pressure was further compounded by a drop in the realized gold price, which fell to approximately $4,204 per ounce from $4,450 per ounce in Q2 2026, a 5.5% quarter-over-quarter decline.

Offsetting these declines were several positive developments. Year-to-date production remains up 16%, and the company holds $419 million in cash. Aris Mining also received the final $42 million installment from Wheaton and reported that expansion milestones at both Marmato and Soto Norte are advancing. The stock had already declined from a 52-week high of $30.90 to $24.28 prior to the release, reflecting market expectations of weaker near-term production.

Aris Mining Corporation (ARIS) is a Canadian gold producer listed on the TSX and NYSE, with operations focused on South America. The company owns 100% of four core assets: the producing Segovia and Marmato mines in Colombia, and the development-stage Toroparu project in Guyana and Soto Norte project in Colombia.

Segovia is an underground gold mine located in Antioquia, Colombia, with a mining history spanning over 150 years. An expansion to 3,000 tpd is currently underway, with a second mill commissioned in June 2025. The site targets a steady-state production of approximately 300 koz/year.

Marmato, an underground gold mine in Caldas, Colombia, currently operates a 1,000 tpd flotation plant. A new 5,000 tpd CIP plant is under construction, which will bring the total planned capacity to 6,000 tpd. The facility targets a steady-state output of approximately 200 koz/year, with first gold from the CIP plant expected in Q4 2026.

The Toroparu open-pit gold project in Guyana is detailed in a Preliminary Economic Assessment (PEA) from October 2025. The plan outlines a 7.0 Mtpa throughput, a 21.3-year mine life, and average annual production of approximately 235 koz. The project carries an initial capital expenditure of $820 million and an after-tax NPV5% of $1.8 billion at $3,000/oz.

Soto Norte is an underground gold project in Santander, Colombia. A Preliminary Feasibility Study (PFS) from September 2025 outlines a 3,500 tpd operation with a 22-year mine life. Average annual production is estimated at approximately 203 koz, rising to 263 koz in years 2 to 10. The project requires an initial capex of $625 million and yields an after-tax NPV5% of $2.7 billion at $2,600/oz.

Aris Mining’s long-term objective is to produce approximately 500 koz/year in the near term from Segovia and Marmato, expanding to approximately 1 moz/year when including Toroparu and Soto Norte.