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Cobre Limited has entered a binding agreement to acquire 51% of the Sierra Atacama copper project from Minera Salar Blanco in Chile for approximately $50 million. The project spans 40,000 hectares in Antofagasta and currently has an underground mine producing 400 tons of copper cathodes per month.

Cobre Limited aims to transition from an explorer to a producer, leveraging existing infrastructure. The acquisition is advised by Baker McKenzie, and funding will support the purchase, capital expenditures, contract terminations, and drilling programs. Martín Borda previously acquired the project in 2024 amid financial difficulties.