Cordoba Minerals divests Colombian mining interests

VANCOUVER, May 9, 2025 – Toronto-listed mining company Cordoba Minerals has agreed to sell its 50% interest in the copper-gold-silver Alacrán Project and all other exploration assets in Colombia to Veritas Resources, Cordoba announced on Thursday.

The Alacrán Project is a copper, gold and silver development in Puerto Libertador, Colombia. It consists of the Alacrán Copper-Gold-Silver Deposit and satellite deposits at Alacrán North, Montiel East, Montiel West and Costa Azul.

Cordoba Minerals will receive a closing cash payment of USD 88 million and a deferred payment of USD 12 million 36 months after close, or upon the commencement of commercial operations of Alacrán, should that happen earlier. Cordoba may also receive a contingent payment of up to USD 28 million, depending on the prevailing copper price at the time of commercial production at Alacrán.

“This transaction represents an opportunity to expedite the advancement of the Alacrán Project and will be an excellent outcome for Cordoba shareholders. JCHX is a global leader in mine development and operations and brings proven underground mining expertise to the Alacrán Project—one of Colombia’s most advanced copper-gold assets,” said Sarah Armstrong-Montoya, president and CEO of Cordoba Minerals.

The transaction will be executed through Cordoba’s divestment of its Colombian subsidiaries Minerales Cordoba and Exploradora Cordoba to Veritas, which already owns 50% of the Alacrán Project. Veritas is an indirect wholly-owned subsidiary of Chinese mining construction company JCHX Mining Management, which owns 19.81% of Cordoba.

Photo of Alacrán Project camp courtesy of Cordoba Minaerals

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