By Digifin Pty Ltd · About this coverage
Key Points
- Interest in Sierra Atacama copper project increased to 62.86%
- Cash consideration of approximately US$12 million payable to Minera Salar Blanco SpA
- Board representation rises to three of five directors
- Next phase includes plant expansion, satellite open pits and expanded exploration
About Cobre (ASX:CBE)
Cobre Limited is an ASX-listed copper company headquartered in Sydney. It holds copper interests in Chile, including the Sierra Atacama project, and copper exploration projects in Botswana.
Cobre (ASX:CBE) exercised its option to take majority ownership and board control of the producing Sierra Atacama copper project in Chile, which the company says puts decisions on plant expansion, satellite pits and exploration with Cobre.
Cobre's Chilean subsidiary, Sierra Cobre SpA, exercised the Control Call Option under the amended Investment Agreement dated 30 June 2026 to acquire the Control Option Shares from Minera Salar Blanco SpA (MSB). The cash consideration is approximately US$12 million, and Cobre Chile will hold 62.86% of Sierra Atacama. Cobre Chile is entitled to nominate an additional director, lifting its representation to three of five directors on the project company boards. The company says the next phase of the project includes the previously announced plant expansion, development of satellite open pits and an expanded exploration programme, and that Cobre and MSB will continue to work together.
The release does not state how the consideration will be funded, when it is payable, or current production, costs or the capital required for the planned expansion.
Source: Cobre Limited (ASX:CBE), 12 October 2026. Summary content supplied by Digifin Pty Ltd.
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