Soma Gold Formalizes First Small Mine, Boosts El Limon Mill Capacity
Event summary
- Soma Gold received first shipment from formalized Diamantina Mine, permitted for 40 MT/day production.
- El Limon Mill processing 1,700 MT of stockpiled material from Diamantina; expects additional small mines to formalize in 2026.
- Ore sorting equipment arrives at El Bagre Mill, targeting 700-750 TPD throughput by mid-2026.
- Nechi Mine permit submission 95% complete; approval expected by year-end, adding 250 TPD capacity.
- 2025 production totaled 18,670 AuEq ounces, below expectations due to strike-related delays.
The big picture
Soma Gold's formalization of small mines aligns with broader industry trends toward consolidating artisanal mining operations for improved efficiency and regulatory compliance. The arrival of ore sorting equipment at El Bagre Mill reflects growing adoption of technology to enhance processing capacity in gold mining. With 24 small mines in various stages of formalization, Soma aims to capture more gold production on its 43,000-hectare property while navigating operational delays from last year's strike.
What we're watching
- Formalization Pace
- Whether Soma can accelerate formalization of remaining 23 small mines to meet mid-year production targets.
- Equipment Integration
- How quickly ore sorting technology at El Bagre Mill reaches full commercialization and impacts throughput.
- Permit Timelines
- The pace at which Nechi Mine permit approval progresses and its impact on 2026 production forecasts.