{"id":93381,"date":"2024-07-01T00:00:00","date_gmt":"2024-07-01T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/mubadala-reduces-stake-in-colombia-gold-project\/"},"modified":"2024-07-01T00:00:00","modified_gmt":"2024-07-01T00:00:00","slug":"mubadala-reduces-stake-in-colombia-gold-project","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/07\/01\/mubadala-reduces-stake-in-colombia-gold-project\/","title":{"rendered":"Mubadala reduces stake in Colombia gold project"},"content":{"rendered":"

Mubadala now owns less of the Soto Norte Colombia gold project:<\/strong> Abu Dhabi sovereign wealth fund Mubadala has closed the transfer of an additional 31% stake in the Soto Norte gold-copper project in Colombia to Canadian Aris Mining<\/a>, the mining firm said in a press release (pdf)<\/a>. Aris Mining has now become the controlling shareholder, now holding a 51% stake in the project, while Mubadala retains a 49% stake.<\/p>\n

The details:<\/strong> In exchange for the increased stake, Aris Mining will issue a total of 21.75 mn shares to Mubadala, valued at USD 90 mn. This includes a 9.9% stake now, with an additional 6 mn shares to be issued to Mubadala after Aris obtains an environmental license for the project.<\/p>\n

Background:<\/strong> In May<\/a>, Mubadala and Aris Mining inked an agreement to raise Aris\u2019 stake in the gold-copper project to 51%. Aris had originally acquired a 20% stake in Mubadala\u2019s subsidiary Minesa, the company which fully owns the Soto Norte project, in March<\/a> 2022, forming a JV which saw Aris become an operating partner in Minesa.<\/p>\n

About the project: <\/strong>The Soto Norte project is claimed to be one of the \u201clargest undeveloped underground gold projects in South America,\u201d according to Aris. The Canadian mining firm is set to commence a pre-feasibility study of a new development plan for the project, slated for completion by early 2025.<\/p>\n","protected":false},"excerpt":{"rendered":"

Mubadala will now get a USD 90 mn stake in Aris Mining<\/p>\n","protected":false},"author":1,"featured_media":93382,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2392],"tags":[7,60,614,1343],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-93381","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-enterpriseam-uae","tag-ma-watch","tag-mining","tag-mubadala","wpautop","entry"],"acf":{"mongo_id":"6a7ebb21-9a38-4f13-962b-3a51cc376678","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/2193.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Mubadala reduces stake in Colombia gold project","related_issue":[93374],"teaser":"Mubadala will now get a USD 90 mn stake in Aris Mining","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.c82757e5-c986-43c5-b769-4cb9c5a7d36b.mp3"},"yoast_head":"\nMubadala reduces stake in Colombia gold project - UAE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/uae\/2024\/07\/01\/mubadala-reduces-stake-in-colombia-gold-project\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mubadala reduces stake in Colombia gold project\" \/>\n<meta property=\"og:description\" content=\"Mubadala will now get a USD 90 mn stake in Aris Mining\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/uae\/2024\/07\/01\/mubadala-reduces-stake-in-colombia-gold-project\/\" \/>\n<meta property=\"og:site_name\" content=\"UAE\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-01T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2193.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/07\/01\/mubadala-reduces-stake-in-colombia-gold-project\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/07\/01\/mubadala-reduces-stake-in-colombia-gold-project\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Mubadala reduces stake in Colombia gold project\",\"datePublished\":\"2024-07-01T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/07\/01\/mubadala-reduces-stake-in-colombia-gold-project\/\"},\"wordCount\":222,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/07\/01\/mubadala-reduces-stake-in-colombia-gold-project\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2193.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM UAE\",\"M&A WATCH\",\"mining\",\"Mubadala\"],\"articleSection\":[\"M&A WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/07\/01\/mubadala-reduces-stake-in-colombia-gold-project\/\",\"url\":\"https:\/\/enterpriseam.com\/uae\/2024\/07\/01\/mubadala-reduces-stake-in-colombia-gold-project\/\",\"name\":\"Mubadala reduces stake in Colombia gold project - 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