Vancouver, Canada – Following a ruling by the Supreme Court of British Columbia, Canada, OCIM has secured full ownership of all shares in the companies that own two gold processing plants in Peru. This acquisition marks the end of a two-year period during which OCIM attempted to offer Inca One multiple restructuring solutions, including five debt restructuring approvals, all of which were unsuccessful.
OCIM Group, founded in Paris in 1961 and owned by OCIM Finance SA, acted as a secured creditor in a judicial process that culminated in insolvency proceedings and the sale of assets. The company now aims to restart operations at both plants and resume gold production by 2025.
“Our goal is to position the Chala One and Kori One processing plants at the center of the transformation of Peru’s small-scale artisanal gold mining sector. We aspire to be the ideal partner for local artisanal miners while setting a benchmark in environmental, social, and governance (ESG) standards,” said Laurent Mathiot, President and CEO of OCIM.
Impact on Peru’s Artisanal Gold Mining Sector
Inca One, a Toronto Stock Exchange-listed company, previously operated the Chala One and Kori One mineral processing plants in southern Peru under valid local licenses. The company provided mineral refining services to Peru’s artisanal and small-scale gold mining sector, which has an estimated annual revenue of $2 billion.
This sector accounts for approximately 20% of global gold production but remains largely underserved—a gap that OCIM aims to address. In 2023, Inca One produced around 20,000 ounces (600 kg) of gold while operating at only 20% of its permitted capacity, making it the second-largest built mineral processing facility in Peru.
OCIM’s Future Investment Plans
To ensure a successful and sustainable production restart, OCIM plans to invest heavily in capital expenditures and working capital. These investments will focus on securing competitive mineral acquisition conditions, reinforcing OCIM’s long-term commitment to the Peruvian mining industry.