On December 7, 2022, JCHX Mining Management Co. ("JCHX"), a Beijing-based company specializing in international mine engineering, development, and construction, announced its acquisition of a 50% ownership stake in CMH Colombia S.A.S. ("CMH"). CMH, a subsidiary of the Canadian mineral exploration company Cordoba Minerals Corp. ("Cordoba"), operates the Alacrán Project in Colombia, the country's largest copper mine. The transaction, valued at US$100 million, effectively transformed CMH into a 50:50 joint venture between JCHX and Cordoba.

Subsequently, on January 4, 2023, Cordoba confirmed the receipt of a US$10 million bridge loan from JCHX. This loan, integral to the joint-venture agreement signed in December 2022, was designated as the initial installment for the development of the Alacrán Project.

Cordoba Minerals Corp., headquartered in Vancouver, is renowned for its focus on the exploration, development, and acquisition of copper and gold projects in Colombia and the United States. This strategic alliance with JCHX represents a significant step in the development and expansion of the Alacrán Project, reinforcing Cordoba's presence in the mining sector.

The transaction's value was set at US$100 million, marking a notable investment in the Colombian mining industry.