To further promote the construction and development of Alacran project in Colombia, JCHX Mining signed an EP contract with CMH Colombia S.A.S. (“CMH”) regarding the detailed engineering and procurement of Alacran Copper-Gold-Silver Mine.

The contract was signed by Ms. Sarah Armstrong-Montoya, CEO of Cordoba Minerals and Chairman of CMH, and Mr. Xinyu WANG, Deputy Chairman of JCHX Mining, with the attendance of Mr. Scott Lehman, Project Manager of Alacran project, Mr. Peter ZHOU, Executive VP of Ivanhoe Mining and President of Ivanhoe China, Mr. Xiancheng WANG, Chairman of JCHX Group, Dr. Huaisheng PENG, President of JCHX Group, Mr. Qinghai WANG, Chairman of JCHX Mining, and Mr. Haigen HUANG, President of JCHX Mining.

Alacran mine, 390km to the northwest of Bogota, Columbia, will be developed via open pit mining, with the processing facilities consisting of two parts: processing plant 1 (17,600t/d processing capacity) for fresh ores and transition ores and processing plant 2 for historical tailings and saprolite.

Currently CMH owns 100% of the equity shares of Alacran Mine, while JCHX Mining and Cordoba Minerals respectively own 50% of the equity shares of CMH via their own wholly owned subsidiaries. JCHX Mining additionally owns 19.995% of the equity shares of Cordoba Minerals via another wholly owned subsidiary, being the second largest shareholder.

The signing marks a solid step of Alacran mine project towards construction and development. It also manifests the progress made by JCHX Mining in expanding international market share, following the acquisition of Lubambe Copper Mine in Zambia, and epitomizes JCHX’s comprehensive strength in contract mining in global mining landscape.