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Collective Mining Acquires All of the Remaining Surface Rights Required for a Future Mining Operation at the Guayabales Project
Collective Mining Acquires All of the Remaining Surface Rights Required for a Future Mining Opera...
About this update from Collective Mining Ltd
[{"type":"text","content":"\n\n\nCollective Mining Acquires All of the Remaining Surface Rights Required for a Future Mining Operation at the Guayabales Project\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nCanada NewsWire\n\n\nTORONTO, March 11, 2026 /CNW/ - Collective Mining Ltd. (NYSE: CNL) (TSX: CNL) (\"Collective\" or the \"Company\") is pleased to announce the execution of final binding purchase agreements (\"BPAs\") with several arms-length vendors (\"Vendors\") for the Company to acquire the remaining surface rights needed for a future mining operation at the Guayabales Project, located in Caldas, Colombia. Collective also holds the mineral titles, or options to acquire the mineral titles, over all areas where surface titles have been, or are being acquired for future mine development.\n\n\n\n\n\n\n\nAri Sussman, Executive Chairman, commented: \"Completing the acquisition of all surface land required for a future mining scenario at our Guayabales Project is a major step towards realizing our vision of developing a major critical mineral mining operation in Colombia. We envision a future mine for the Apollo System, which is a polymetallic deposit enriched in gold, copper, tungsten, and silver, that will be modern, have a modest surficial footprint, and will adhere to the highest standards of environmental stewardship. The future mine will benefit immensely from robust infrastructure as it will be located next to the Pan-American Highway and hydropower lines and have access to readily available skilled labor from our established mining region in Caldas. Purchasing surface titles in Colombia is never easy given the fragmented nature of land ownership, so I would like to congratulate our team for immensely derisking the project in a swift and thorough manner.\"Terms of the Final Pieces of Land Being AcquiredUnder the terms of the recently executed binding purchase agreements, Collective Mining will acquire land for a total purchase price of US$44.0 million, to be paid in installments over a 5-year period as follows:US$8.7 million in 2026, upon execution the BPAsUS$10.0 million in 2027US...