Power Metal Resources Invests $1 Million in Chile's Next Minerals for Copper Project

Power Metal Resources has invested $1 million in Next Minerals, acquiring a 2.6% stake in a mine-ready copper project in Chile. The investment supports the Comahue underground copper project, which has a mineral resource of 9.91 million tonnes at 0.81% copper, expected to yield 40,000 tonnes of copper cathode annually. This move, part of a $3 million funding round with Swift Mining Services, aims to enhance Power Metal's presence in the copper sector amid rising demand.

Published Mar 21, 2026

Power Metal Resources has made a strategic $1 million investment in Next Minerals, acquiring a 2.6% stake in the Comahue underground copper project in Antofagasta, Chile. The project is mine-ready, with a Phase 1 mineral resource of 9.91 million tonnes at 0.81% copper, targeting an initial annual output of 40,000 tonnes of copper cathode.

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This investment is part of a $3 million funding round alongside Swift Mining Services, giving a combined 7.9% interest. The project is expected to generate approximately $495 million in revenue and $140 million in EBITDA over its seven-year mine life. Next Minerals also controls over 14,000 hectares in Chile's coastal copper belt, presenting further growth opportunities.