05:27 PM EDT, 07/16/2024 (MT Newswires) -- Aris Mining ( ARMN ) edged higher in after-hours New York trading after the company on Tuesday said its gold production fell 4.7% in the first half of the year and said it is on track to meet the lower end of its full year production guidance.

The company said output from its two Columbian mines fell to 99,983 ounces in the period, down from 104,906 ounces in the first half of 2023.

The company provided an expansion projects update. Aris said it is expanding mill capacity at its Segovia mine by 50% to 3,000 tonnes per day, raising output to 300,000 ounces of gold annually. It is also in the midst of a $280-million lower-mine expansion at its Marmato mine, expected to be complete next year.

"We are excited about the transformational near-term growth we will deliver over the next two years through the Segovia and Marmato expansions, while progressing Soto Norte to unlock our next growth project for 2027 and beyond," chief executive Neil Woodyer said in a release.

The company also said its expects 2024 production to be at the low end of its 220,000 to 240,000 ounces guidance.

Aris shares were last seen up US$0.011 to US$4.65 after hours. They closed up $0.11 to $6.36 on the Toronto Stock Exchange, a 52-week high.