JCHX Mining Management Co. and Cordoba Minerals agree to jointly-develop the Alacrán Project in Colombia
May 08, 2023
100.00 Million USD
On December 7, 2022, JCHX Mining Management Co. ("JCHX") announced that it will acquire a 50% ownership interest in CMH Colombia S.A.S. ("CMH"), a subsidiary of Canadian company Cordoba Minerals Corp. ("Cordoba"), for an aggregate consideration of US$100 million. The arrangement converts CMH into a 50:50 joint-venture between JCHX and Cordoba which owns 100% of the Alacrán Project in Colombia, the largest copper mine in the country.
Cordoba later announced, on January 4, 2023, the receipt of a US$10 million bridge loan from JCHX. The loan was a part of the joint-venture agreement signed in December of 2022 and will be used as the first installation payment for the development of the Alacrán Project.
JCHX Mining Management Co., based in Beijing, China, engages in international mine engineering, development, and construction activities.
Cordoba Minerals Corp. is a mineral exploration company based in Vancouver that focuses on the exploration, development, and acquisition of copper and gold projects in Colombia and the United States.
McCarthy Tétrault is advising JCHX Mining Management Co. with a team led by Joyce Lee that includes Gerald Gaunt (Business), Jason Gudofsky, and Erin Keogh (Competition/Antitrust).