Aris Mining settles arbitration dispute with Colombia government

Aris Mining Corporation (NYSE-A: ARMN) announced it has reached a settlement agreement with the Republic of Colombia to end an arbitration proceeding under the Canada-Colombia Free Trade Agreement.

The arbitration was initiated in May 2018 by Gran Colombia Gold Corp., which was later renamed GCM Mining, before the International Centre for Settlement of Investment Disputes. The case included a request for cash damages. Aris Mining continued the process after its formation through a merger of GCM Mining and Aris Gold in September 2022.

The settlement involves no cash payments and is structured on performance obligations rather than financial consideration. The agreement includes three "Pillar Agreements" covering mining formalization in the Marmato area and collaborative initiatives with Colombia's National Police and Ministry of Defence.

Under the settlement terms, Colombia's environmental authority CORPOCALDAS will oversee compliance of formalized mining operations in the Cerro El Burro area with mining regulations and permits. The company will also engage with the Attorney General's Office to support legal processes protecting its operations and workforce.

The settlement agreement and associated agreements will remain in effect for ten years and will be overseen by a Joint Representatives Committee comprising delegates from Aris Mining and Colombia's National Agency for Legal Defense of the State.

"We are very pleased to have resolved this complex matter through discussion and cooperation rather than arbitration," said Neil Woodyer, CEO of Aris Mining.

Aris Mining operates two underground gold mines in Colombia and produced 210,955 ounces of gold in 2024. The company also owns the Toroparu gold project in Guyana and holds a 51% interest in the Soto Norte joint venture.

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