Minera Cobre Corporation (MCC) is a private Canadian company with an extensive copper exploration portfolio in Colombia. The company’s largest shareholder is RCF, while in June 2018, First Quantum Minerals acquired a 9.9% stake. MCC plans to go public within the next 12 months.
MCC holds the dominant ground position covering the last remaining porphyry copper belt in the Andes, having acquired an extensive copper exploration portfolio from Glencore and AngloGold Ashanti, and the Murindo project from Rio Tinto. MCC has further consolidated its ground position and currently holds 187 mining titles covering 4,695 km² over a 200-km length of the Colombian copper belt.
Over US$50M has been spent in the last decade. More than 70 porphyry copper targets have been identified, of which three are drill-ready: Pantanos, Murindo and Urrao. Pantanos has historical drilling that returned up to 271 metres grading 0.68% Cu and 0.009% Mo. Murindo has no drilling but historical outcrop sampling averages 0.94% Cu and 0.39 g/t Au over a large area. Murindo is widely regarded as the most significant untested porphyry Cu-Au target in South America.
MCC plans to commence drilling at Pantanos in early 2019 and at Murindo by early 2020.