Colombia’s environmental ruling: What it means for Aris Mining and Soto Norte Project

The Colombian Ministry of Environment has issued a resolution establishing a Temporary Reserve Area (TRA) in the Santurbán region, a decision that suspends the issuance of new environmental licenses for two years. The move directly affects mining projects in the area, including the Soto Norte Project, a large-scale underground gold, silver, and copper development under Aris Mining Corporation. The resolution follows a public consultation process launched in November 2024, reflecting growing environmental concerns over water resources in Santander Department.

Despite the regulatory changes, Aris Mining Corporation has confirmed that its other operations, including the Segovia Operations, Marmato Mine, and Lower Mine Project, remain unaffected, as they are located outside the designated Temporary Reserve Area. While this ruling presents new regulatory challenges, the company remains committed to advancing the Soto Norte Project, aligning it with environmental protection initiatives and engaging with Colombian authorities to ensure compliance.

What Is the Future of the Soto Norte Project Under New Regulations?

The Soto Norte Project is one of the world’s largest undeveloped underground gold deposits, with an estimated 8.5 million ounces of gold at an average grade of 5.5 grams per tonne. Aris Mining Corporation, as the majority stakeholder with a 51% ownership, has been revising the project’s scope to meet environmental and regulatory requirements.

Following the Colombian Ministry of Environment’s decision, the company has intensified efforts to finalize a smaller-scale development plan, which is expected to be completed by mid-2025. The revised plan aims to mitigate environmental impact while incorporating solutions that support small-scale miners in the Santurbán region. Instead of pursuing a large-scale mining model, the project will focus on minimizing disruptions to local ecosystems and integrating processing technologies that enhance sustainability.

The updated approach aligns with strategies successfully implemented in other projects. At the Segovia Operations, for example, Aris Mining Corporation has built a contract mining partnership model, which has not only improved production efficiency but also fostered stronger collaboration with small-scale miners. By applying this experience to the Soto Norte Project, the company aims to create a mining operation that benefits both the local economy and environmental conservation efforts.

How Will Aris Mining Navigate Regulatory Challenges in Colombia?

Colombia’s mining sector has come under increased regulatory scrutiny, particularly regarding water resource management and deforestation risks. The creation of a Temporary Reserve Area in the Santurbán region underscores the government’s heightened focus on balancing economic development with environmental preservation. This regulatory shift presents challenges for companies operating in the country, as mining projects must now undergo additional reviews to meet stricter sustainability standards.

For Aris Mining Corporation, adapting to these evolving regulations is a strategic necessity. The Soto Norte Project’s new development plan integrates key modifications, including a smaller-scale mining approach designed to minimize environmental disruption. In addition, the company is exploring innovative processing technologies that aim to reduce waste and improve resource efficiency. Another significant component of the revised plan involves integrating small-scale miners into the project’s supply chain, ensuring their operations are legalized and regulated under sustainable practices.

By adopting these measures, Aris Mining Corporation seeks to position the Soto Norte Project as a model for responsible mining in Colombia. The company’s focus on regulatory compliance, environmental stewardship, and community partnerships reflects a broader industry trend where mining firms must actively engage with stakeholders to ensure long-term project viability.

What Does the Environmental Resolution Mean for Mining Investment in Colombia?

The establishment of a Temporary Reserve Area in the Santurbán region raises important considerations for foreign mining investors assessing Colombia’s regulatory landscape. The decision to halt new mining licenses for two years signals the government’s intention to implement stricter environmental controls. While this creates uncertainty in the short term, it also provides opportunities for companies that can align their operations with Colombia’s sustainability goals.

Investors evaluating Aris Mining Corporation’s position in the market will need to consider both the challenges and advantages of the company’s approach. While the temporary suspension of new licenses may delay certain project timelines, firms that successfully adapt to these regulations stand to gain long-term credibility. Companies that prioritize sustainability, environmental transparency, and responsible mining practices are more likely to secure government approvals in the future.

In the case of Aris Mining Corporation, the company has indicated its commitment to continued expansion in Colombia. By leveraging its expertise in regulatory compliance and community engagement, the company aims to maintain its competitive edge. The Soto Norte Project, despite facing delays, remains a long-term strategic asset, and its redesigned development model could set a precedent for future mining approvals in Colombia.

What’s Next for Aris Mining’s Expansion Plans?

Beyond the Soto Norte Project, Aris Mining Corporation is actively pursuing expansion across its existing mining assets. The company currently operates two underground gold mines in Colombia, the Segovia Operations and Marmato Upper Mine, which collectively produced 210,955 ounces of gold in 2024. To sustain growth, the company has set ambitious production targets, with plans to increase output significantly in the coming years.

A key component of this expansion strategy is the Segovia mill expansion, which is expected to boost production capacity by the second half of 2025. Additionally, the company is preparing for the ramp-up of the Marmato Lower Mine, scheduled to commence in 2026. These projects, once fully operational, will enhance the company’s annual gold production capacity, reinforcing its position in the Latin American mining industry.

Alongside its Colombian operations, Aris Mining Corporation owns the Toroparu gold-copper project in Guyana, which provides further diversification within its asset portfolio. By expanding its operations across multiple jurisdictions, the company is mitigating risks associated with regulatory shifts in any single market while positioning itself for sustained long-term growth.

Can Aris Mining Overcome Regulatory Hurdles and Continue Growth?

Despite the regulatory uncertainties introduced by the Colombian Ministry of Environment’s resolution, Aris Mining Corporation remains well-positioned to navigate these challenges. The company’s Soto Norte Project is still in the early stages of development, allowing time for further adjustments to align with regulatory expectations. By focusing on environmental sustainability, community engagement, and operational efficiency, the company is strengthening its ability to secure long-term approvals.

With a track record of successful partnerships with small-scale miners and expertise in regulatory navigation, Aris Mining Corporation has demonstrated its capacity to adapt to changing industry dynamics. As feasibility studies progress and the company refines its project design, its commitment to responsible mining will remain a defining factor in its ability to move forward with the Soto Norte Project and other expansion initiatives.