As a result of the termination of the mining contracts of the Calenturitas and la Jagua mines pursuant to the National Mining Agency (ANM) acceptance on 3 September 2021 to the mining contracts relinquishment, the Prodeco Group's mining operations in the department of Cesar have been definitively terminated.

Following the termination of our mining contracts in September 2021, the next step under Colombian Mining Code was to start the mining contracts liquidation process with the National Mining Agency – ANM. The liquidation of mining contracts 109/90 (CMU), 285/95 (CDJ) and 044/89 (Prodeco) was finalized on 5 September/23, 26 September/23 and 1 December /23 respectively; following the above the mining areas were handed back in an operational condition and declared received by the National Mining Agency (ANM). The free reversion of assets to the Colombian state is expected to be completed by July 2024. 

From the moment the Prodeco Group’s operations were suspended in 2020 and later definitively terminated in 2021, the Prodeco Group fulfilled its care and maintenance(C&M) obligations under the mining contracts, which were required to keep the mining areas in operational condition. These C&M activities were carried out until the date in which the mining contracts were liquidated, and the mining areas were handed over to the ANM (December 2023).

At the same time, the Prodeco Group has fully complied with its environmental and social obligations as set out in the Environmental Management Plan for each mine, which is monitored by the National Environmental Licensing Agency (ANLA). 

In addition, the Prodeco Group has been working with ANLA on the definition of the environmental and social plan to be implemented by the Prodeco Group in furtherance of the termination of its mining operations in the region of Cesar, including the definition of both the Prodeco Group’s fulfilled and outstanding environmental and social obligations. These will form part of the Environmental Closure Plan, which will define the environmental obligations the Prodeco Group is responsible and the conditions under which these obligations will be fulfilled. 

ON VIDEO: What did we do to maintain our mines in an operational condition?