Aris Mining Corporation of Canada Confirms 32-Month Construction Plan for Toroparu Gold Mine

en.Wedoany.com Reported - On November 12, Aris Mining Corporation of Canada announced the results of the Pre-Feasibility Study (PFS) for the Toroparu Gold Project in Guyana, planning to build a large-scale open-pit gold mine with an annual ore processing capacity of 7 million tonnes, mineral reserves of approximately 5.92 million ounces, a planned mining period of 21 years and an ore processing period of 29 years, with estimated gold production of 5.6 million ounces over the full life of mine. The project construction period is expected to be 32 months, and the Company plans to make a final construction investment decision in early 2027.

The study adopts a conventional open-pit truck-and-shovel mining method, with a life-of-mine strip ratio of 3.3:1. The processing plant uses crushing, grinding, gravity gold recovery, carbon-in-leach and sulphide flotation processes, while also recovering gold, silver and copper. The project's measured and indicated mineral reserves total 200.2 million tonnes at an average gold grade of 0.92 g/t. Of this, approximately 133.6 million tonnes average 1.18 g/t, while the remaining approximately 66.6 million tonnes of low-grade ore is planned to be stockpiled and processed later in the mine life. In the first 5 years after production commences, average annual gold production is estimated at approximately 291,000 ounces, and during the first 17 years of the main mining phase, average annual gold production is estimated at approximately 258,000 ounces.

The project's estimated construction capital expenditure is US$1.017 billion, plus US$102 million in contingency and US$24 million in construction-period working capital. After deducting up to US$138 million in construction funding potentially available under historical precious metals purchase agreements, the initial funding requirement is approximately US$1.005 billion. Based on benchmark prices of US$3,600 per ounce of gold, US$50 per ounce of silver and US$5 per pound of copper, the project's after-tax net present value (at a 5% discount rate) is approximately US$2.8 billion, with an internal rate of return of 31.5% and a post-production payback period of approximately 2.2 years.

The Toroparu Project is located in the Cuyuni-Mazaruni region of Guyana. Aris Mining submitted an application for a large-scale mining licence in August 2026 and is currently awaiting government approval.