Cobre Limited secures ore deals to boost Sierra Atacama output

Cobre Limited, through its subsidiary Sierra Atacama SpA, has signed ore purchase agreements with two third-party copper oxide miners in Chile’s Antofagasta region. The agreements are expected to increase copper cathode production by approximately 300 tonnes per month starting in the fourth quarter of 2026.

Under the terms, the miners will deliver between 50,000 and 75,000 tonnes of ore monthly, with copper grades ranging from 1.0% to 1.5%. This additional feed is intended to increase the utilization of the Sierra Atacama SX-EW plant, which is currently operating below its full capacity.

By utilizing existing processing infrastructure for third-party ore, Cobre aims to improve operating cash flow and lower unit processing costs by spreading fixed costs over a larger tonnage base. This strategy serves as a bridge to the company’s planned transition to expanded open-pit production in 2027. These new volumes are incremental to Cobre’s previously announced production targets, which remain unchanged.