OCIM acquires full ownership of Chala One and Kori One gold processing plants in Perú

This acquisition further strengthens OCIM’s presence in Latin America and underlines its commitment to responsible gold sourcing, local development, and sustainable mining practices.

OCIM has announced it has officially acquired full ownership of the Chala One and Kori One gold processing plants in southern Peru, following the conclusion of receivership proceedings involving Inca One Gold Corp. (“Inca One”). This acquisition marks a strategic move in OCIM’s long-term vision to transform the artisanal and small-scale mining (ASM) sector in one of the world’s top mining nations.

A decision by the Supreme Court of British Columbia has awarded OCIM full control over all shares of the companies owning the two plants, bringing to an end a two-year process during which OCIM consistently sought cooperative solutions. Despite five attempted debt restructurings proposed to Inca One, no agreement was reached, ultimately leading OCIM to act in 2024 as a secured creditor through judicial means.

Restarting Gold Production in 2025

OCIM now aims to restart operations at Chala One and Kori One and resume gold doré production in 2025, leveraging a highly experienced and committed local management team based in Lima. In 2023, Inca One had produced around 20,000 ounces (600 kg) of gold, utilizing only 20% of its permitted capacity — making these plants among the largest ore processing units in the country.

“With this acquisition, we plan to place the Chala One and Kori One Processing Plants at the heart of the transformation of the Peruvian ASM gold sector,” said Laurent Mathiot, Chairman and CEO of OCIM. “Our goal is to become the preferred partner for local artisanal miners by leading in every aspect of ESG standards.”

Supporting Peru’s Artisanal Gold Mining Industry

The ASM sector in Peru is estimated to generate over US$2 billion annually and accounts for nearly 20% of global gold production. However, it remains vastly underserved. OCIM sees a strategic opportunity to provide competitive ore purchase terms, invest in infrastructure, and promote ethical practices in gold sourcing.

In line with this vision, OCIM is committed to upholding LBMA-aligned responsible sourcing standards and fully supports the Swiss Better Gold initiative to build transparent, traceable, and resilient supply chains within the ASM gold sector.

A Long-Term Commitment to Responsible Mining

OCIM plans to invest significantly in both capital expenditures and working capital, ensuring the operational success and sustainability of the two plants. With the backing of a dedicated Peruvian team and a focus on responsible mining, OCIM is positioned to lead a new era of inclusive, ethical, and high-impact gold processing in Peru.

This acquisition further strengthens OCIM’s presence in Latin America and underlines its commitment to responsible gold sourcing, local development, and sustainable mining practices.