04:35 PM EST, 01/15/2025 (MT Newswires) -- Aris Mining ( ARMN ) was at last look up 1.3% in New York after-hours trading Wednesday after the company released 2024 production results and provided a 2025 outlook.

For 2024, Aris reported gold production of 210,955 ounces from its two operations in Colombia, with 187,583 ounces from its Segovia mine and 23,372 ounces from the Marmato Upper Mine, and said it achieved the revised 2024 guidance range of 205,000 to 220,000 oz.

Aris reported gold production of 57,364 ounces in the fourth quarter, the highest quarterly production of the year. Gold production in the second half of 2024 of 110,972 ounces was 11% higher compared to the first half of 2024.

During 2025, Aris expects consolidated gold production of between 230,000 and 275,000 ounces, with in-progress expansion projects to contribute to production growth in 2025 and beyond.

In 2025, the Segovia Operations are projected to produce between 210,000 and 250,000 ounces of gold, with approximately 50% to 55% sourced from owner mining and 45% to 50% from mill-feed purchased from contract mining partners (CMP). For the owner mining segment, All-in sustaining costs (AISC) per ounce sold is expected to range between $1,450 and $1,6003 and the CMP segment is expected to achieve an AISC sales margin of 35% to 40%.

Aris Mining ( ARMN ) said it will resume providing AISC guidance for the Marmato Mine when the Lower Mine achieves commercial production, expected in 2026.

Chief executive Neil Woodyer in a statement said: "At Segovia, the processing facility's capacity is being expanded by 50% to 3,000 tonnes per day (tpd). Construction remains on track for completion in Q1 2025, with commissioning scheduled for Q2 2025. The mill feed rate is expected to increase gradually during the second half of 2025, rising from the current 2,000 tpd to the full 3,000 tpd by year-end. Meanwhile, construction of the Marmato Lower Mine continues to progress, with combined production from the Upper and Lower Mines expected to ramp up in 2026.

He added: "As of December 31, 2024, we hold US$253 million of cash, providing strong funding for these projects. Following project completion and ramp up, we are targeting annual gold production of approximately 500,000 ounces. Additionally, we are advancing key strategic priorities, including environmental and technical studies at the top-tier Soto Norte gold-copper project. Results of these studies are expected in mid-2025. Aris Mining ( ARMN ) is well positioned for both near and long-term growth and value creation."

Aris shares were last seen up US$0.05 to US$3.77 after hours. They closed up $0.02 to $5.41 on the Toronto Stock Exchange