Aris Mining Posts Record 2025 Results, Eyes 50% Production Boost — Aris Mining Corporation

Event summary

Aris Mining produced 256,503 ounces of gold in 2025, a 22% increase from 2024 and above guidance.
2025 revenue hit $909 million, up 82% from 2024, with adjusted EBITDA rising 185% to $464 million.
Cash balance grew to $392 million, with net debt reduced to $86 million from $241 million.
Segovia's second mill ramp-up contributed to record financial results, while Marmato's CIP plant remains on track for Q4 2026.
2026 production guidance set at 300,000-350,000 ounces, with Segovia and Marmato expansions driving growth.

The big picture

Aris Mining's strong 2025 performance underscores its strategic focus on operational expansion and cost discipline. The company's ability to exceed production targets while reducing debt positions it favorably amid volatile gold markets. The upcoming ramp-up at Segovia and Marmato, along with advancements in Soto Norte and Toroparu, will be critical in determining its trajectory toward 1 million ounces of annual production.

What we're watching

Execution Risk: Whether Aris can sustain its operational momentum amid expanding production capacities at Segovia and Marmato.
Market Dynamics: How higher gold prices will impact the company's margins and project economics, particularly for Soto Norte and Toroparu.
Strategic Growth: The pace at which Aris can advance its longer-term projects, including Soto Norte's environmental license application and Toroparu's PFS completion.