The closing ceremony for San Matias project in Columbia was held on March 6 by JCHX Mining, Veritas Resources AG (“Veritas”, JCHX’s holding subsidiary,) and Cordoba Minerals Corp at JCHX headquarters in Beijing, with the attendance of Mr. Wang Xiancheng, Chairman of JCHX Group, Mr. Wang Qinghai, Chairman of JCHX Mining, Dr. Peng Huaisheng, President of JCHX Group, Mr. Yin Shizhou, VP and CFO of JCHX Group, Mr. Peter Zhou, Executive VP and Chief Representative China of Ivanhoe Capital Corporation (“Ivanhoe”), Mr. Shawn Wang, Senior Consultant of Ivanhoe, Ms. Maya Chen, Investment Director of Ivanhoe, and Ms. Sarah Armstrong-Montoya, President and CEO of Cordoba Minerals Corp. (“Cordoba”), subsidiary of Ivanhoe.
Upon closing, JCHX, through Veritas, has the ultimate control over CMH, which holds 100% interests in the San Matias Project, including the Alacran Copper-Gold-Silver mine, and is going to play a leading role in the future development of the Alacran mine. While enlarging JCHX’s market share overseas, accelerating and improving the implementation of the strategy of focusing on both contract mining and resources investment, and strengthening its global competitiveness, this move reinforces its commitment to integrating advanced technology and responsible mining practices at the project, delivering long-term value to shareholders and partners, and contributing to resource development, ecological protection, and community development in Colombia.
Chairman Wang Xiancheng pointed out that this investment is of great significance for JCHX to practice the internationalization strategy and becomes another key milestone in the company's transformation into a comprehensive mineral resources developer. JCHX looks forward to working hand in hand with its partners to advance the development and construction of the Alacran project, fully leveraging its professional strengths to promote the long-term, stable, and sustainable development of the project.
Peter mentioned that Ivanhoe and JCHX have established a long-term and stable cooperative relationship across multiple mining projects. He expressed confidence that through the joint efforts of all parties, the resource potential of the San Matias project will be fully unlocked, creating new values for regional mining development.
Sarah remarked that the successful closing marks an important milestone for Cordoba. With JCHX's great technical strengths and profound project execution experience in underground mine development and production, it can be assured that the Alacran project will smoothly advance to the next phase.
