All workers rescued after mine shaft collapse at Aris Mining partner

VANCOUVER - All 23 workers trapped underground following a shaft collapse at La Reliquia Mine in Colombia have been safely brought to the surface, Aris Mining Corporation (TSX:ARIS) (NYSE-A:ARMN) reported Wednesday. The $1.43 billion market cap gold producer has maintained profitability over the last twelve months, with revenue growing 16.42% according to InvestingPro data.

The group included five Aris Mining employees who were conducting a routine monthly review of operations at La Reliquia, which has been a partner to the company’s Segovia Operations since 2014.

The company’s Brigade of Prevention and Emergency Control led the rescue operation, which concluded without injuries to any personnel.

"We are relieved and grateful that all workers are now safely at surface," said Neil Woodyer, CEO of Aris Mining. "I commend our rescue team and La Reliquia’s workforce for their professionalism, dedication, and swift response."

According to the company’s statement, the incident did not impact regular operations at the Segovia site. La Reliquia contributes what the company describes as a small portion of mill feed to Segovia’s overall production. The company maintains strong operational stability with a healthy current ratio of 1.73, indicating solid liquidity to meet its short-term obligations.

Aris Mining operates two underground gold mines in Colombia - the Segovia Operations and the Marmato Complex - which together produced 210,955 ounces of gold in 2024. For detailed analysis and additional insights about Aris Mining’s performance and growth potential, investors can access comprehensive research reports through InvestingPro, which offers exclusive financial metrics and expert analysis for over 1,400 US-listed companies.

The company stated in its press release that it is currently pursuing expansion projects at both operations, with the goal of increasing annual production to more than 500,000 ounces of gold.

In other recent news, Aris Mining Corporation announced a notable increase in production at its Segovia Operations in Colombia. This development follows the commissioning of a second mill, which expanded the company’s processing capacity by 50%, allowing for higher throughput rates in July and August. Additionally, Aris Mining reported positive results from a prefeasibility study for its Soto Norte Gold Project, highlighting robust economics and a 22-year mine life. Meanwhile, a collapse at the La Reliquia Mine in Colombia has trapped 23 workers, including five employees of Aris Mining, and rescue efforts are ongoing.

In related developments, Aris Water Solutions Inc. has been in the spotlight following its acquisition agreement with Western Midstream Partners LP. This news prompted Texas Capital Securities to downgrade Aris Water Solutions from Buy to Hold, while maintaining a price target of $25.00. Conversely, Wells Fargo raised its price target for Aris Water Solutions to $25.00 from $23.00, citing the company’s second-quarter results and the pending merger. These recent events have drawn significant attention to both Aris Mining and Aris Water Solutions.

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