Soto Norte’s PFS Sets a New Underground Gold Cost Benchmark?: the real signal is the immediate adjustment required in cash, risk, and execution
Decision Lens
In September 2025, Aris Mining published a prefeasibility study for its Soto Norte underground gold project in Santander, Colombia. The study describes a resource anchored by 4.6 million ounces of proven and probable reserves at 7.0 g/t gold. The headline outputs—203,000 ounces per year average production across years one to twenty-one, and a life-of-mine AISC of $534 per ounce—sit at the lower end of the underground gold cost curve, according to the company’s published project materials.
Sources
- Seekingalpha — Aris Mining: The Gold Growth Story The Market Is Missing (Link)
