Abu Dhabi’s Mubadala inks deal to operate Colombian gold mine

Mubadala Investment Company enters into agreement with Aris Gold Corporation for the operation of the Soto Norte Gold Project



Mubadala Investment Company, the Abu Dhabi-based investor, has entered into an agreement with Aris Gold Corporation for the operation of the Soto Norte Gold Project in Colombia, one of the world’s largest feasibility-stage gold mines

Through a joint venture company, Aris Gold will acquire a 20 percent ownership interest in Sociedad Minera de Santander and Sociedad Minera Calvista Colombia (collectively, Minesa).

Aris Gold has an option to acquire a further 30 percent ownership interest in Minesa which is the 100 percent owner of the Soto Norte gold project.


On closing, Aris Gold and Mubadala will enter into an agreement to govern the joint venture company through which environmental licensing, project development and mine operation will be undertaken.

Danny Dweik, executive director, Industrials at Mubadala and chairman of Minesa, said: “We are delighted to bring in Aris Gold as our operating partner in Minesa.

“The Soto Norte Project will benefit from their technical capabilities and local market experience, and we look forward to working with them and the project’s local communities to bring this world-class project to fruition.”

According to Mubadala, Soto Norte has a large resource base with additional significant resource upside potential, and the project has the potential to be a large scale, low cost, underground gold mining operation.


Aris Gold CEO Neil Woodyer will be appointed CEO of Minesa and lead the preparation of the company’s operational licence application.

He said Aris Gold will use its position as an established member of the Colombian mining industry to ensure the Soto Norte project operates at the highest international sustainability standards.

Mubadala’s $243.4 billion portfolio spans six continents with interests in multiple sectors and asset classes.

Headquartered in Abu Dhabi, Mubadala has offices in London, Rio de Janeiro, Moscow, New York, San Francisco and Beijing.

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