Article

Naipu Mining Machinery's shares decreased after it announced the withdrawal from acquiring a stake in CMH Colombia, the owner of the Alacrán copper-gold-silver mine. The decision was prompted by Cordoba Minerals' request for changes to payment terms, the absence of environmental approval from Colombia's licensing authority, and increasing geopolitical risks.

Naipu was to invest USD51.3 million for a nearly 23% stake in Veritas Resources, which planned to develop the mine with a total investment of USD420.4 million. The mine is projected to yield 797 million pounds of copper and 550,000 ounces of gold over its operational life.