# Mogotes Metals exploration expansion and Rio Tinto stake

> Live situation record from CLSTR: https://clstr.news/situations/mogotes-metals-exploration-program-expansion
> Updated: 2026-10-07T09:13:56.000Z. Sources: 9. Developments: 3.

Mogotes Metals has announced an expansion of its mineral exploration activities for the 2026–2027 period, targeting copper, gold, and silver across several international projects.

At the Filo Sur project, located between Argentina and Chile, the company plans to increase drilling to 20,000 meters, more than tripling the 6,208 meters completed during the 2025/26 season. Scheduled to begin in November 2026, the program aims to expand discoveries at Albor and Cruz del Sur, test targets at Luz del Sol and Cuenca, and explore the 10 km Macho-Muerto fault zone.

Other planned activities include intensified drilling at the Beskauga project in Kazakhstan, with up to 50,000 meters planned, and between 8,000 and 9,000 meters of drilling at the Copper Cliff project in Montana, USA.

In October 2026, Mogotes Metals entered a new phase following a strategic investment from Rio Tinto Canada. Rio Tinto subscribed to over 30 million units at 0.70 CAD, providing Mogotes with approximately 21.27 million CAD (15 million USD) and granting Rio Tinto an initial ownership stake of roughly 5%. This investment includes a strategic and technical alliance, supporting Mogotes as it manages three major copper-gold projects across three continents.

## Timeline

### 2026-10-07: Rio Tinto takes strategic stake in Mogotes Metals

Rio Tinto has taken a 5% strategic stake in Mogotes Metals Inc., investing 15 million USD to support copper and gold exploration projects across three continents.

3 sources. https://clstr.news/cluster/rio-tinto-takes-strategic-stake-in-mogotes-metals

### 2026-09-26: Mogotes Metals and Axo Metals announce major exploration updates

Mogotes Metals plans to triple its drilling at the Filo Sur copper project to 20,000 meters by 2026/27, while Axo Metals reports significant gold step-out results at its San Antonio project in Mexico.

6 sources. https://clstr.news/cluster/mogotes-metals-and-axo-metals-announce-major-exploration-updates

### 2026-09-23: Mogotes Metals expands exploration plans for 2026–2027

Mogotes Metals is expanding its 2026–2027 exploration programs, significantly increasing drilling at Filo Sur in Argentina/Chile and Beskauga in Kazakhstan to target copper, gold, and silver.

2 sources. https://clstr.news/cluster/mogotes-metals-expands-exploration-plans-for-20262027

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Cite as: Mogotes Metals exploration expansion and Rio Tinto stake. CLSTR, https://clstr.news/situations/mogotes-metals-exploration-program-expansion