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Investing.com -- Aris Mining Corp (TSX:ARIS) (NYSE-A:ARMN) stock rose 2.2% Thursday after the company announced it has entered into a binding term sheet to acquire the remaining 49% interest in the Soto Norte joint venture in Colombia from Mubadala.
The total consideration for the transaction is US$80 million, comprising US$60 million in cash and 1,739,130 newly issued Aris Mining common shares at a deemed price of US$11.50 per share. The deal, which includes termination of a precious metals stream previously granted to Mubadala, is expected to close by early December 2025.
The acquisition strengthens Aris Mining’s project pipeline and gives the company full strategic control over Soto Norte, positioning it to potentially become a 1-million-ounce-per-year gold producer. The transaction increases the company’s total attributable gold mineral reserves by 32.8% to 9.1 million ounces and mineral resources by 18.8% to 21.7 million ounces.
Soto Norte is a high-grade underground gold project with proven and probable mineral reserves of 20.3 million tonnes at 7.00 g/t Au containing 4.6 million ounces gold, supporting a 22-year initial mine life. The project has an after-tax NPV5% of $2.7 billion and IRR of 35.4% at a base case gold price of $2,600/oz.
Aris Mining first acquired a 20% interest in Soto Norte in April 2022 and increased its ownership to 51% in June 2024. The company completed a positive prefeasibility study in September 2025 and plans environmental licensing submissions for the first half of 2026.
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