On May 8, 2025, Cordoba Minerals Corp. announced a definitive agreement to sell its remaining 50 percent interest in the Alacrán Copper-Gold Project in Colombia to Veritas Resources AG, an indirect wholly-owned subsidiary of JCHX Mining Management Co., Ltd., for a total consideration of up to US$128 million. The transaction includes an immediate cash payment of US$88 million, a deferred payment of US$12 million upon the earlier of commercial production or 36 months post-closing, and a contingent payment of up to US$28 million based on copper prices at the time of production. Cordoba plans to distribute approximately US$65–70 million of the proceeds to its shareholders, retaining US$5 million for corporate purposes. The deal is subject to approvals from Cordoba shareholders, the TSX Venture Exchange, and Colombia’s environmental authority, with an expected completion by December 31, 2025.

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.

JCHX Mining Management Co., based in Beijing, China, engages in international mine engineering, development, and construction activities.

Cassels is acting for Cordoba. The Cordoba Special Committee retained Osler, Hoskin & Harcourt LLP as its independent legal counsel and Haywood Securities Inc. as its independent financial advisor.

McCarthy Tétrault is advising JCHX Mining Management Co.