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2 clusters · 5 sources · 9 days · First seen · Last updated

Cobre copper mining developments in Chile

Overview

Cobre is expanding its footprint in the Chilean copper sector. The company is moving toward a 62.86% controlling interest in the Sierra Atacama Copper Project by exercising a US$12 million option to convert preference shares. This move is intended to increase exposure to production growth and cash flow as the project ramps up copper cathode production through 2027.

To support this growth, Cobre’s subsidiary, Sierra Atacama SpA, has secured ore purchase agreements with two third-party miners in Chile’s Antofagasta region. These agreements, expected to begin in the fourth quarter of 2026, will deliver between 50,000 and 75,000 tonnes of ore monthly. This strategy aims to increase the utilization of the Sierra Atacama SX-EW plant and lower unit processing costs by spreading fixed costs over a larger tonnage base, serving as a bridge to expanded open-pit production in 2027.

Entities

Sierra Atacama SpA · Glencore · Cobre Limited · Sierra Atacama Copper Project · Teck Resources

Timeline

  1. 5 days ago

    [BUSINESS] 2 sources
    Cobre Limited secures ore deals to boost Sierra Atacama output

    Cobre Limited has secured agreements to purchase copper oxide ore from two miners in Chile, aiming to boost Sierra Atacama plant output by 300 tonnes of cathode per month starting in late 2026.

  2. 14 days ago

    [BUSINESS] 3 sources
    Copper mining developments involve Cobre and Anglo American merger

    Cobre moves toward majority control of Chile's Sierra Atacama project, while Glencore emerges as a key powerbroker in the $50 billion Anglo American and Teck Resources merger.

Sources

abnnewswire.net · africa.businessinsider.com · mining.com.au · miningmx.com · smallcaps.com.au