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ARIS MINING COMPLETES ACQUISITION TO INCREASE OWNERSHIP IN SOTO NORTE GOLD-COPPER PROJECT TO 51%
ARIS MINING COMPLETES ACQUISITION TO INCREASE OWNERSHIP IN SOTO NORTE GOLD-COPPER PROJECT TO 51% ...
About this update from Aris Mining Corp
[{"type":"text","content":"\n \n \n \n ARIS MINING COMPLETES ACQUISITION TO INCREASE OWNERSHIP IN SOTO NORTE GOLD-COPPER PROJECT TO 51%\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n June 28, 2024\n \n \n /CNW/ - Aris Mining Corporation (Aris Mining or the Company) (TSX: ARIS) (NYSE-A: ARMN) announces that, further to the Company's news release of\n \n May 23, 2024\n \n , it has closed the acquisition of an additional 31% interest in the Soto Norte gold-copper project in\n \n Colombia\n \n (Soto Norte or PSN), increasing its total ownership in the joint venture to 51%. Soto Norte is one of the largest undeveloped underground gold projects in\n \n South America\n \n .\n \n \n As consideration for the additional 31% interest of PSN:\n \n \n \n Aris Mining has issued 15,750,000 shares to a wholly-owned subsidiary of the\n \n Abu Dhabi\n \n based investment company Mubadala Investment Company PJSC (Mubadala), which shares will be subject to a 12-month hold period.\n \n \n An additional 6,000,000 shares will be issued to Mubadala on receipt of an environmental license for PSN.\n \n \n Mubadala is retaining a 49% interest in PSN. Aris Mining will sole fund certain operating costs on behalf of the joint venture during the pre-licensing period. Non-operating and project construction costs will be funded on a pro-rata ownership basis.\n \n \n \n In\n \n March 2022\n \n , Aris Mining disclosed the results of mineral resource and reserve estimates and a Feasibility Study for the Soto Norte Gold Project in a NI 43-101 compliant Technical Report with an effective date of\n \n January 1, 2021\n \n (the Feasibility Study). The Feasibility Study includes a 7,200 tonnes per day capacity processing plant with average annual ...