Marmato lower gold mine project, Colombia

6th October 2023 By: Sheila Barradas - Creamer Media Research Coordinator & Senior Deputy Editor

Marmato lower gold mine project, Colombia

Photo by: Aris Mining

Name of the Project
Marmato lower gold mine project.


Project Owner/s
Aris Mining.

Project Description
The project includes the development of a new underground mine and a 4 000 t/d processing facility to add to the current 1 250 t/d Marmato upper mine.

The project is expected to deliver 162 000 oz/y of gold over a nearly 20-year mine life from proven and probable mineral reserves of 3.2-million ounces.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an after-tax net present value, at a 5% discount rate, of $341-million and an internal rate of return of 29.7%.

Capital Expenditure

Planned Start/End Date
Construction of the access road to the new process plant and mine portal and declines will start in the fourth quarter of 2023, followed by the start of construction of the process plant, mine and nonprocess infrastructure.

Mechanical completion of the new mill is expected in the third quarter of 2025.

Latest Developments
None stated.

Key Contracts, Suppliers and Consultants
Ausenco Engineering (new processing plant).

Contact Details for Project Information
Aris Mining, tel +57 4 448 5220 or email