Soma Gold Accelerates Colombian Production with Multi-Mine Expansion
Event summary
- Cordero Mine production stabilized at 425-450 TPD, with grade issues being addressed through increased drilling and development of higher-grade zones.
- El Bagre Mill upgrade with sensor-based sorting technology expected to increase capacity to 650-700 TPD by Q3 2026.
- Aurora Mine set to begin production in May or June 2026, with Escondida Mine restarting in June 2026.
- 2026 production forecast at 23,489 AuEq ounces, with annual run rate expected to reach 33,756 AuEq ounces by year-end.
The big picture
Soma Gold's multi-mine strategy and technological upgrades position it for significant production growth in Colombia's competitive gold mining sector. The company's focus on operational efficiency and resource expansion aligns with broader industry trends toward scalable, high-grade production. With a clear path to 60-65,000 ounces annually by 2028, Soma is poised to capitalize on rising gold demand and regional mining opportunities.
What we're watching
- Execution Risk
- Whether Soma can sustain production growth amid labor competition and technical challenges at Cordero Mine.
- Operational Efficiency
- The pace at which sensor-based sorting technology improves mill efficiency and reduces costs.
- Resource Expansion
- How successful the Escondida Mine drill program will be in expanding permitted capacity beyond 40 TPD.