Aris Mining Corporation has entered into a binding term sheet to acquire the remaining 49 % interest in its Soto Norte joint venture from MDC Industry Holding Company LLC (Mubadala). The transaction, valued at US$80 million, will be paid with US$60 million in cash and 1,739,130 newly issued common shares at a deemed price of US$11.50 per share, giving Aris full ownership of the high‑grade underground gold project in Colombia.
Soto Norte’s proven and probable reserves are 4.6 million ounces of gold on a 100 % basis, as confirmed by the September 2025 prefeasibility study. The 9.1 million‑ounce figure cited in the original article refers to Aris Mining’s total attributable gold mineral reserves across all its projects after the acquisition, not to Soto Norte alone.
Full ownership removes the need to share production and cash flow with a partner, allowing Aris to accelerate its goal of becoming a 1‑million‑ounce‑per‑year gold producer. The acquisition complements the company’s Segovia, Marmato and Toroparu operations, strengthening its fully owned portfolio and expanding its production pipeline.
Aris’s recent financial performance underpins the cash component of the deal. In Q3 2025 the company generated US$253.5 million in revenue, up 93 % from the same period a year earlier, and reported adjusted EBITDA of US$131.1 million, a three‑fold increase over Q3 2024. The company ended the quarter with a cash balance of US$417.9 million, providing a solid liquidity base for the transaction.
CEO Neil Woodyer said the move “shifts Aris from a buy‑and‑build strategy to a clear focus on building,” underscoring the company’s intent to leverage its fully owned assets to drive long‑term growth.
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