Aris Mining Forms Unusual Alliance with Colombian Artisanal Miners to Combat Illegal Gold Trade.

Aris Mining Corp., a Canadian precious metal producer backed by Frank Giustra, has formed associations with around 2,500 small-scale miners in Colombia, representing 45% of the gold extracted from its Segovia mine. The company supports the miners with funding, planning, and security, and then buys their gold. Aris is expanding its partnership program in Segovia and Marmato, aiming to increase its production to 500,000 ounces per year. The company's approach contrasts with Zijin Mining Group, which has faced violent conflicts since acquiring the Buriticá mine in Antioquia five years ago.

Aris Mining Corp., a Canadian precious metals producer backed by Frank Giustra, has formed associations with around 2,500 small-scale miners in Colombia, representing 45% of the gold extracted from its Segovia mine. The company supports the miners with funding, planning, and security, and then buys their gold. Aris is expanding its partnership program in Segovia and Marmato, aiming to increase its production to 500,000 ounces per year. The company's approach contrasts with Zijin Mining Group, which has faced violent conflicts since acquiring the Buriticá mine in Antioquia five years ago.

Aris Mining Corp. has signed partnerships with about 2,500 small-scale miners in Colombia, who now account for 45% of the gold that comes out of its Segovia mine in Antioquia department [1]. The company's Chief Executive Officer, Neil Woodyer, stated that Aris is helping these miners with financing, planning, and safety, and then buys their gold. This approach is unusual as established mining companies typically look to expel informal miners from their properties.

Woodyer's team is expanding the partnership program at Segovia and its other Colombian mine, Marmato, where some small-scale miners are even using the company’s own tunnels. At a new project, the company estimates 20% of capacity will be dedicated to such partnerships, which may help the company exceed its goal of doubling output to 500,000 ounces a year [1].

“We add our skills and our technical knowledge, and we pick up their local knowledge and community support,” said Woodyer in a recent interview with Bloomberg. “We enhance our social license and at the same time we get additional production” [1].

Informal mining in South America from Bolivia to Peru is on the rise driven by record-high bullion prices. Aris isn’t immune from the surge in activity by illegal armed groups in Colombia, and a booming illicit gold trade is estimated to generate more money for organized crime than the cocaine industry. Management has been working with police to shut down illegal groups [1].

Aris’s approach — to work with local miners who may lack permits but aren’t explicitly banned or inherently criminal — contrasts with that of Zijin Mining Group, a Chinese group grappling with violent conflicts since buying the Buritica underground mine in Antioquia five years ago [1].

Though infrequent, partnerships with artisanal miners are not unheard of as similar agreements exist in Ghana [1]. Woodyer founded Aris along with strategic investor Giustra three years ago with the merging of Aris Gold and GCM Mining. Ian Telfer, the architect of Goldcorp, is chairman, while Mubadala Investment Co. is an investor. In the past six months, Aris shares have jumped 91%, the biggest gain among peers tracked by Bloomberg, taking its market value to $1.5 billion [1].

References:
[1] https://www.bloomberg.com/news/articles/2025-08-26/aris-partners-with-informal-miners-to-navigate-colombia-s-illicit-gold-boom