Soleil Metals

This gold production restart, which comes just three months after the acquisition of the two plants, follows significant investments to refurbish the production facilities. It will enable artisanal and small miners in the south of the country to sell their ore on competitive terms, while complying with strict trading principles.

The OCIM Group through its subsidiary Soleil Metals has restarted operations at the Chala One and Kori One processing plants, both located in southern Peru and duly authorized by local authorities. This restart follows the first deliveries of ore from artisanal miners, which have enabled the resumption of gold production. It comes nearly three months after the acquisition of the two plants following the receivership of Inca One Gold Corp.

This operation followed a period during which OCIM, Inca One’s main financial backer, had patiently accepted five debt restructurings, proposed several amicable transactions without success, and repurchased the debt of several other stakeholders.

Now the sole owner of the processing plants, OCIM has invested significant capital in the production facilities, which had been damaged, and has rebuilt a complete team, drawing on its long-standing senior management.

This restart marks a new chapter for the two processing plants, which represent Peru’s second-largest ore processing capacity, as well as for the country’s artisanal mining sector. The group’s objective is to establish responsible, traceable and resilient local supply chains and to offer competitive ore purchasing terms while adhering to the strictest principles in gold sourcing and processing.

“We have been able to rebuild relationships of trust with our suppliers, operational teams and miners, thanks to the good reputation of our new European shareholder, which is committed to the long term and to respecting its local partners and thanks to its active involvement with international institutions such as the LBMA and Swiss Better Gold,” explains Ivan Salas, Country Manager of OCIM in Peru and CEO of Soleil Metals.

“The restart of both plants in such a short time reinforces our ambition to become a key player in the Peruvian mining sector and the global leader in responsible ASM gold supply for LBMA accredited refineries and Swiss Better Gold brands. It also reinforces our decision to rely on the long-standing local management team, which has clearly demonstrated its professionalism and efficiency,” explains Laurent Mathiot, Chairman and CEO of the OCIM Group.

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