Aris Mining 1Q 2025 Adjusted Earnings Soar 400% Year-on-Year
Vancouver, Canada-based Aris Mining – operator of the giant Segovia gold mine here in Antioquia – announced May 7 that its first quarter (1Q) 2025 adjusted earnings jumped 403% year-on-year, to US$27 million.
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) likewise jumped 134% year-on-year, to US$66.6 million, while gold revenues rose 47% year-on-year, to US$154 million, “driven by higher realized gold prices and increased production,” according to the company.
Net earnings also climbed to US$2.4 million, compared to a net loss of $0.7 million in 1Q 2024.
Commenting on the results, Aris Mining CEO Neil Woodyer noted that “at Segovia, we maintained production and high margins while advancing the plant expansion, which remains on track for commissioning in June.”
Similarly, for the Aris gold mine at Marmato, Caldas department, “we are making steady progress on the lower mine development, with construction spend ramping up and plant capacity now targeting 5,000 tonnes per day,” Woodyer added.
The company ended the latest quarter with a cash balance of US$240 million and net debt of $250 million, “implying a net leverage ratio of 1.2x,” according to Aris.
“Total AISC [all-in sustaining costs] increased to $1,570 per ounce –versus 4Q 2024 at $1,485 and 1Q 2024 at $1,434 — driven primarily by gold prices, which increased costs for purchased material from CMPs [contract mining partners], as well as royalties and social contributions,” the company added.
