Cordoba Says Land Deal Possible With Colombian Mine

Canadian explorer Cordoba Minerals Corp. has discussed potential land agreements with South32 Ltd.’s Colombia nickel mine operation in recent months, Cordoba Chief Executive Officer Mario Stifano said.

Cordoba’s San Matias copper and gold project in northern Colombia is adjacent to the South32’s Cerro Matoso nickel mine, creating joint-venture and land swap opportunities, Stifano said.

The two sides have maintained an open dialog since BHP Billiton Ltd. spun off assets including Cerro Matoso into South32 this year, with no deals immediately imminent, Stifano said. Cerro Matoso denied talks had been held in an e-mailed response to questions.

“We have been talking to Cerro Matoso because we have a very large land package that’s all around them,” Stifano said in a telephone interview from Toronto on Wednesday. “It may make sense for us to work together in some aspect.”

Toronto-listed Cordoba is confident that Robert Friedland, one of the world’s richest mining entrepreneurs, will take a full 65 percent stake in the San Matias project through his High Power Exploration Inc. company after the two sides announced the deal in May.

The team are preparing to use Friedland’s proprietary Typhoon technology at the project to pinpoint high-grade zones before starting diamond drilling late 2015 or early 2016.

“We think we now have a couple of very large trends there,” Stifano said.

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