Monday 27 June 2022

Collective Mining: new agreement announced in Caldas, Colombia

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TORONTO, Canada – Collective Mining Ltd. announced that the Company has executed a second agreement with the Coffee Growers Committee of Caldas (the “Committee”) and the Municipalities of Supía and Marmato (together “the Parties”) to build upon the success of the 2021 program by expanding the program in 2022 to further improve the lives of coffee growers and their families in Caldas.

The Committee is part of the National Federation of Coffee Growers of Colombia (“FNC”) which oversees the development of the country’s coffee sector and is one of the most influential institutions in Colombia’s agricultural industry.

The alliance will directly benefit 1,652 coffee growers including their families and members of the local communities. Additionally, the Parties will continue fostering positive activities in the department of Caldas, which will serve to validate that mining and agricultural activities can exist harmoniously in the same region.

After a successful first year of activities developed under the initial agreement, the Parties in the alliance have agreed to expand this partnership to Marmato, one of the three municipalities where the Company’s projects are located.

The cumulative commitment of the members of the strategic alliance will be $420,000 in 2022, of which Collective will contribute approximately 32% of the total investment. The funds will be allocated towards the construction of aqueducts for the Hojas Anchas and La Bodega villages, enhancing local road infrastructure and improving productivity for coffee producers.

Omar Ossma, CEO and President of Collective stated: “Caldas is the second largest coffee producing department in the country and it is well known as one of the traditional coffee regions in Colombia. Supporting the coffee industry and improving access to water for local communities are two pillars of our ESG strategy for 2022.

This alliance aims to contribute to social development in the Caldas region while we keep our promise to create value and share it with the people where we explore our projects.”

“This is a very important step to promote sustainable development with the inclusion of mining activity. This project demonstrates that respectful and responsible mining is possible,” stated the Mayor of Supía, Marco Antonio Londoño Zuluaga.

Carlos Yesid Castro Marín, Mayor of Marmato said: “We are pleased to be part of this collaborative agreement and have the support of Collective Mining who articulated the initiative for the benefit of our mining communities.”

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