Segovia Produces 194.4K Ounces in 9 Months, Up 18.1% Year Over Year
Key Facts
Segovia produced 194.4K ounces of gold in the first nine months of 2026, up 18.1% from 164.6K ounces in the same period of 2025, according to Aris Mining data. The mine recorded 63.4K ounces in the third quarter. Segovia is the company’s largest producing operation and is located in a historic mining district in Antioquia, Colombia. Production growth over the nine months places the mine’s performance in the context of the company’s operational expansion, while the quarterly total differs from the year-to-date comparison. The company targets annual Segovia production of about 300K ounces once operations stabilize.
The volume of ore processed by the mine rose to 208K tonnes in the third quarter of 2026, from 202.5K tonnes in the second quarter, according to the company’s results. But the average gold grade of processed ore fell to 9.77 grams per tonne from 10.23 grams per tonne in the previous quarter. This means the increase in ore processed coincided with a decline in its average gold content per tonne. The company had raised Segovia’s processing capacity to 3,000 tonnes per day after commissioning a second mill in June 2025. The additional capacity provides operational context for the production trajectory, while the quarterly figures reflect changes in ore volume and grade between the two periods.
The company’s previous estimate for Segovia’s proven and probable reserves was 1.5 million ounces at a grade of 10.7 grams per tonne, while measured and indicated resources stood at 3.6 million ounces at a grade of 15.3 grams per tonne. These are previous estimates presented on the mine’s page, not an update to reserves as of November 10, 2026. No new figures that can be compared with these estimates or used to determine their impact on the mine’s life are available among the confirmed information. The distinction between reserves and resources remains relevant when reading project data, as the company presents the two categories with separate figures and grades. The figures available here are therefore limited to the previous estimate and production and processing performance over the specified periods.
The company said supply constraints on explosives that had affected external mining partners were resolved in September 2026, paving the way for higher partner production. The development comes as the company sets its 2026 production guidance, with Aris Mining targeting the lower end of its annual range of 300K to 350K ounces of gold. The company said its ambition, once the Segovia and Marmato expansions are complete and operations stabilize, is to reach about 500K ounces of combined annual production. This target is tied to both expansions and does not represent Segovia’s production alone. The company identifies operational stability after completion of the expansion as a condition for reaching the target level.