09:47 AM EDT, 06/28/2024 (MT Newswires) -- Aris Mining ( ARMN ) said Friday that it has completed its acquisition of an additional 31% stake in the Soto Norte gold-copper project in Colombia from Abu Dhabi-based Mubadala Investment.

The acquisition raises Aris' interest in the project to 51%, with Mubadala owning the remaining 49%.

As part of the deal, Aris has issued 15.75 million shares to a Mubadala unit, with a 12-month hold period. An additional 6 million shares will be issued to Mubadala upon receipt of an environmental license for Soto Norte.

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