Gold Mining News Hubb
Advertisement
  • Home
  • Gold News
  • Mining News
  • Contact us
No Result
View All Result
  • Home
  • Gold News
  • Mining News
  • Contact us
No Result
View All Result
Gold Mining News Hubb
No Result
View All Result
Home Mining News

Cordoba, JCHX to jointly develop Colombian copper-gold-silver project

admin by admin
December 11, 2022
in Mining News


JCHX will have a permit for production offtake of up to 100% under the current feasibility study of the Alacran Project. Credit: Cordoba Minerals Corp.

Ivanhoe Electric subsidiary Cordoba Minerals and JCHX Mining Management have signed an arrangement to jointly develop Cordoba’s Alacran copper-gold-silver project in Colombia.

Under the arrangement, JCHX will acquire a 50% stake through a wholly owned subsidiary in CMH Colombia S.A.S. (CMH) for $100m.

A company existing under the laws of Colombia, CMH will hold 100% of the Alacran Project. It will be the joint venture vehicle for JCHX and Cordoba in the project-level partnership.

JCHX will pay $40m in cash upon deal closing, which is expected by the end of Q1 2023. A further $40m in cash will be paid upon completion of the project’s feasibility study and submission of its environmental impact assessment (EIA ).

The firm will make an additional $20m cash payment upon securing the EIA approval, which is anticipated within two years.

JCHX will also advance a $10m bridge loan in cash to Cordoba, following the signing of the milestone agreements.

Cordoba president and CEO Sarah Armstrong-Montoya said: “With JCHX’s continual unwavering confidence in Cordoba, it comes with no surprise when the time came for the Alacran project to find a partner, we conclusively arrived at JCHX.

“It is a huge advantage to have a vastly experienced mining and construction expert join us at the project level to support the development of the Alacran project, especially given that JCHX brings the added benefit of being very familiar with Cordoba.”

JCHX will have a permit for production offtake of up to 100% under the current feasibility study of the Alacran Project.

Ivanhoe Electric holds a 63.27% stake in Cordoba.





Source link

Previous Post

Security agencies speak on frequent deadly attacks in Enugu

Next Post

Mapping Out The Richest Billionaires in Each Country

Next Post

Mapping Out The Richest Billionaires in Each Country

Recommended

Kodal secures financing from Chinese investor for Mali lithium

January 20, 2023

Fluor wins EPCM contract for Skouries project in Greece

January 8, 2023

Don't miss it

Gold News

EFCC arrests bank official over alleged hoarding of new naira notes

February 6, 2023
Mining News

Football’s Big Game: Charting Super-Sized Bets (2013-2022)

February 6, 2023
Mining News

China’s development of Russian mine

February 6, 2023
Gold News

Sibanye-Stillwater studying start-up in nuclear reactors as signals return to dealmaking

February 6, 2023
Gold News

First Abuja International Marathon to hold in April

February 5, 2023
Mining News

The Top Online Music Services in the U.S. by Monthly Users

February 5, 2023

gold mining-66

© 2022 Gold Mining News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • Gold News
  • Mining News
  • Contact us

Newsletter Sign Up

No Result
View All Result
  • Home
  • Gold News
  • Mining News
  • Contact us

© 2022 Gold Mining News Hubb All rights reserved.