Chinese consortium will be the new operator of the Alacrán copper project in Colombia
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According to a report by the media outlet 360 Radio, following the exit of the Canadian company Cordoba Minerals Corp, a subsidiary of Ivanhoe Electric, from the Alacrán copper project in Colombia, a Chinese consortium led by JCHX Mining Management Co. acquired its 50% stake, thus becoming the sole owner of the project, as it already held the remaining 50%.
The Alacrán copper project is located in the department of Córdoba, specifically in the municipality of Puerto Libertador. The 50% operated by the Canadian company had been under its management for over a decade, until the sale was announced in 2025.
With this acquisition, the consortium from the People’s Republic of China takes full control of the deposit, which is positioned as one of the most significant at present and is projected to become a key asset for Colombia’s copper sector.
The purchase of Cordoba Minerals’ 50% stake by the Chinese consortium was valued at 128 million dollars, divided into three parts: an initial cash payment of 88 million dollars, a second payment of 12 million to be made upon the start of commercial production or within a maximum of 36 months, and a third payment of up to 28 million, depending on fluctuations in the international copper price.
According to studies by the company that owns the Alacrán project, it could reach an annual production capacity of approximately 450 tonnes of copper, at least 6 million ounces of silver, and 700 ounces of gold, making it a strategic asset for Colombia’s mining sector.
In addition, with a total investment estimated at 400 million dollars for its development, commercial operations are expected to begin in 2026.
It is worth noting that the purchase of the Alacrán project includes not only the 50% stake but also all of the mining exploration assets that Cordoba Minerals held in Colombia. As a result, the local subsidiaries Exploradora Córdoba and Minerales Córdoba will also become property of the Chinese consortium.
However, the Canadian company has stated that this transaction does not mean its withdrawal from the country and that it will continue to develop exploration projects and activities in Colombia without changes.
This transaction between the Chinese consortium and the Canadian company takes place in a global context in which copper is becoming a key resource for the energy transition, due to its essential role in the production of transmission networks, electric vehicles, and storage systems.
Furthermore, this deal strengthens the presence of the People’s Republic of China in strategic sectors such as extractives in Latin America, highlighting its interest in securing access to critical raw materials for technological and industrial development.
In this context, the Colombian government will need to define clear roadmaps to guide the development of such projects, ensuring their alignment with national goals related to social inclusion, regional development, and sustainability.
Main Source:
China toma control total del proyecto de cobre Alacrán en Colombia por US $128 millones – 360 Radio
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