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Soma Gold gets first shipment from Diamantina Mine in Colombia
Yahoo Finance· 2026-03-12 14:00
Core Insights - Soma Gold has successfully received its first shipment of mined material from the Diamantina Mine, which is now formalized under Colombian regulations, allowing the company to purchase mineralized rock in exchange for a portion of the gold from each delivery [1][5] Group 1: Production and Operations - The Diamantina Mine is authorized to produce a maximum of 40 tonnes per day (tpd) of material, with plans to reach this output level by mid-year [2] - Currently, 1,700 tonnes of accumulated material from the Diamantina Mine are being transported to the El Limon Mill for processing [2] - The El Limon Mill aims to enhance its milling capacity to process output from the Aurora and Escondida mines, as well as material from formalized small miners [3] Group 2: Equipment and Technology - New ore sorting equipment has arrived in Colombia and is expected to be operational by mid-2026, which will increase throughput at the El Bagre Mill from 450 tpd to between 700 and 750 tpd [4] - The ore sorting technology is anticipated to be fully commercialized in the latter half of this year [4] Group 3: Strategic Importance - The formalization of small miners is a key part of Soma Gold's strategy, and the completion of the first small mine is expected to catalyze the formalization of additional small miners [5][6] - Soma Gold's gold equivalent output for 2025 is projected to be 18,670 ounces [6]