VIDEO: Cobre Limited: Transformational Transition to Copper Producer

02:22 Uhr  |  ABN Newswire

Sydney, Australia - Cobre Ltd. (ASX:CBE) is pleased to advise that it has entered into a binding and exclusive agreement with Chilean-based Minera Salar Blanco (MSB) to acquire up to a 51% interest in the Sierra Atacama Copper Project (Project) in the Antofagasta region of northern Chile. The Project includes an operating underground mine which is currently producing approximately 400t of copper cathode / month via heap leach, solvent extraction and electrowinning (SXEW).

Commenting on this highly transformational acquisition for Cobre, Executive Chairman, Martin Holland, said:

"This acquisition is highly transformational for Cobre. We are moving from being an explorer developer to a producer in a production hub in Chile which is surrounded by substantial infrastructure. This represents a very exciting opportunity for Cobre to blend this new asset together with the Company's existing assets in Botswana.

I have had had a long term trusted and successful relationship with the vendor, Martin Borda, and the opportunity for Cobre to partner with him on this project is a true privilege.

With the Kitlanya projects the subject of the BHP agreement, our agreement with Sinomine for the Okavango Copper Project advancing well and the development of the ISCR project at Ngami coming along strongly, it was time for Cobre to venture out and seek opportunities to take the Company to the next level. The Board of Cobre believe that the Sierra Atacama Project in Chile has the potential to transform the Company into one of the ASX's most exciting copper producers.

We are extremely pleased with the strong level of demand shown in this capital raising from both new and existing sophisticated and professional investors and the endorsement this provides for the justification for this transaction.

To watch the Video, please visit:
https://www.abnnewswire.net/lnk/O05DYU0P

About Cobre Limited:

Cobre Limited (ASX:CBE) is a global copper company focused on high-margin production and tier-1 exploration across two of the world's premier mining jurisdictions: the Atacama region in Chile and the Kalahari Copper Belt (KCB) in Botswana. By combining an operating asset at the Sierra Atacama Mine with a dominant, belt-scale landholding in the KCB, Cobre offers a unique, de-risked investment case that spans the entire copper value chain-from near-term cathode production to world-class discovery potential. Cobre's strategic portfolio includes the newly acquired Sierra Atacama Mine in Chile, located in the heart of the world's most prolific copper-producing district, alongside a massive 5,348km2 landholding in Botswana.

Source:
Cobre Limited

Contact:

Cobre Limited Martin Holland E: info@cobre.com.au WWW: www.cobre.com.au