Cobre Secures Ore Deals to Fuel Sierra Atacama Production Boost
Cobre Limited (CBE) has secured agreements to purchase ore from two copper oxide miners in Chile's Antofagasta region. This move is expected to boost output at its Sierra Atacama plant, with an additional 300 tonnes of copper cathode production per month anticipated from the fourth quarter of 2026.
The two miners will deliver ore to the plant and receive a purchase price referenced to contained copper and the prevailing copper price. Deliveries are expected to ramp up during the fourth quarter, building to between 50,000t and 75,000t per month at grades of 1.0% to 1.5% copper.
This higher-grade feed will provide an opportunity for the under-utilised Sierra Atacama plant to reach its maximum theoretical production level of about 20,000t a year, or approximately 1,600t per month, faster than relying on Cobre's own production alone.
Chief Executive Officer Adam Wooldridge said that these agreements demonstrate the strategic advantage of Sierra Atacama's location and processing capacity in Chile's premier copper region. He also noted that the company is positioning itself as the regional processing hub, with the market now recognising this opportunity.