Marmato
- Location
- Caldas, Colombia
- Mine Type
- Underground
- Status
- Producing and Expanding
- Ownership
- 100%
Transforming Marmato for Long-Term Growth
Marmato is an operating underground gold mine undergoing a major transformation through the development of the Bulk Mining Zone and construction of a new 5,000 tonnes-per-day carbon-in-pulp (CIP) processing plant.
Supported by a large mineral reserve base, Marmato is a long-life gold operation, with a 20-year mine life outlined in the 2022 NI 43-101 Pre-Feasibility Study. Mining in the Bulk Mining Zone is underway, with first gold from the new CIP plant expected in Q4 2026 and ramp-up continuing through 2027. At steady state, Marmato is expected to produce approximately 200,000 ounces of gold annually.
3.2 Moz
P&P Gold Reserves at 3.2 g/t
6.0 Moz
M&I Gold Resources at 3.0 g/t
1,000 tpd
Existing flotation plant capacity
5,000 tpd
New CIP Plant Capacity
29 koz
2025 Gold Production
35 - 50 koz
2026 Gold Production Guidance
200 koz
Expected Annual Gold Production at Steady State
Q4-26
First gold expected from new CIP plant
Expansion on Track for First Gold in Q4 2026
The Marmato expansion is advancing on both the underground development and surface construction fronts. Mining in the Bulk Mining Zone is already underway, with material currently being processed through the existing 1,000 tpd flotation plant while construction of the new 5,000 tpd CIP plant progresses toward first gold.
Underground Development
- The Los Indios crosscut has been completed, providing direct access between the Bulk Mining Zone and the new CIP plant and establishing an additional access and ventilation pathway to support efficient movement of ore, waste and personnel.
- Development of supporting underground infrastructure, including pumping, maintenance and other facilities, continues as Marmato prepares for the production ramp-up.
Surface Construction
Construction of the new processing plant is well advanced, with major civil works completed or progressing and installation of key mechanical and electrical systems underway. Major processing equipment, including the SAG and ball mills, is on site, with construction activities focused on completing the plant for commissioning and first gold.
Contract Mining Partners
Our CMP model is active and growing at Marmato, with approximately 300 formalized miners across four CMPs currently operating in the Narrow Vein Mining Zone. We are also working with government and community stakeholders to expand formalization and responsible small-scale mining in the region.
Learn More About Our Contract Mining Partners
