Aris Mining Corporation reported $96 million in adjusted net earnings for the second quarter of 2026. The Vancouver-based firm is currently deploying significant capital into its Marmato and Segovia operations to hit its annual gold production targets.
The $121 million push into Marmato and Segovia
Aris Mining is currently directing $121 million toward major capital projects to bolster its gold production capacity. According to the company's financial report, this expenditure includes $78 million allocated to the Marmato site and $31 million directed toward Segovia. This aggressive reinvestment of cash is part of a broader trend in the mining sector, where companies with strong balance sheets are front-loading infrastructure spending to maximize throughput during periods of favorable gold prices.
By utilizing its $426 million cash balance, the company aims to transition from its current output toward a long-term goal of approximately 500,000 ounces of annual production. This strategy relies on the simultaneous scaling of multiple assets to ensure a steady supply of mill feed and improved operational efficiency.
A Q4 2026 deadline for the Marmato CIP plant
The Marmato operation is preparing for a significant throughput increase with the construction of a new 5,000 tpd carbon-in-pulp (CIP) plant. As reported in the Q2 2026 results, mechanical installation is already underway, and the plant is currently on schedule to produce its first gold in the fourth quarter of 2026 .
The company has outlined a clear ramp-up schedule for this facility to ensure a smooth transition to full capacity. Aris Mining plans to operate the new CIP plant at approximately 3,000 tpd by the end of 2026, eventually reaching 4,000 tpd by mid-2027, and finally hitting the full 5,000 tpd design capacity by the end of 2027 following the commissioning of a paste backfill plant.
Segovia’s $31 million investment in underground haulage
Segovia's recent activity involves a $31 million investment in underground development and haulage infrastructure,a notable increase from the $17 million spent in the first quarter of 2026. this capital is being used to build the mining capacity required to support the expanded 3,000 tonnes per day processing capacity that was installed in June 2025.
To support this expansion, the company is developing new ramps and a main underground haulage circuit that will connect the El Silencio, Providencia, and Sandra K mines. This infrastructure work, combined with an expanded mining fleet of new and leased equipment, is expected to reduce cycle times and improve the efficiency of transporting workers and waste.
Can Soto Norte and Toroparu meet their 2026 milestones?
The company's long-term growth strategy relies on the successful advancement of the Soto Norte and Toroparu projects. At Soto Norte, the company is nearing the completion of environmental studies and the preparation of its environmental license application, while the prefeasibility study for Toroparu is expected to conclude in the second half of 2026.
However,several specific questions remain regarding these upcoming milestones. It is currently unverified whether the environmental license for Soto Norte will be granted without regulatory delays,and the source does not address potential community or environmental opposition that could impact these timelines. Furthermore, while the company states these projects are "on track," the specific technical hurdles facing the Toroparu prefeasibility study remain undisclosed.
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