Colombia mining watch

Cordoba Minerals arranged a US$2mn short-term bridge loan from its majority shareholder, Ivanhoe Electric, following a US$6mn short-term loan announced in April.

The purpose of the bridge loan is to ensure exploration and the feasibility study technical work program at the San Matías copper-gold-silver asset continue.

In a recent interview with BNamericas, Cordoba Minerals CEO Sarah Armstrong-Montoya said the current San Matías drilling campaign is among the largest in the company’s history.

San Matías, in Puerto Libertador municipality in Córdoba department, is considered of national interest. The feasibility study and the environmental impact study are planned to be presented in the first half of next year, with mine construction expected to start in 1Q24.

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Canada’s Prudent Minerals entered into an interim agreement to acquire 100% of the shares of Berlin Precious Metals, with which it would obtain 100% of the ABE gold project, 70km south of Medellín.

ABE has 4,512ha and covers five concession applications, and a 110ha mining concession covering the Purimac gold mine.

ABE is in northwestern Colombia, with several underexplored mineral districts expected to host significant gold deposits, including La Colosa, Marmato, Buritica and the Segovia gold district.

Prudent Minerals said gold mineralization at ABE is in quartz veins in an orogenic/mesothermal setting, analogous to the ancient Berlin gold deposit.

ABE covers the Purimac mine, where Berlin has been exploring for the past 20 months and has identified gold targets in parallel and sub-parallel geological structures.

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Cerrejón rehabilitated 4,700ha of land it previously mined.

Of the total, 255ha were restored last year, while Cerrejón aims to rehabilitate 300ha this year.

Cerrejón produces coal through six pits in Guajira.