Cobre Secures Majority Ownership of Sierra Atacama

• Cobre has increased its ownership in Sierra Atacama to majority
• Majority ownership to be achieved by exercising Control Option by 31 December 2026
• Majority ownership aligns with global copper demand growth and supply constraints

Cobre Limited (ASX: CBE, CBEO) has announced that its Chilean subsidiary, Sierra Cobre SpA, has increased its ownership in the Sierra Atacama Copper Project to majority. This follows a capital raise of USD $12 million and the issuance of convertible non-voting shares. Upon exercising a Control Option by 31 December 2026, Cobre Chile will hold a 62.86% interest in Sierra Atacama and Bergbau Wagen SpA. This move positions Cobre at the forefront of a significant copper opportunity globally.

Cobre Chile to hold 62.86% interest in Sierra Atacama and Bergbau by exercising Control Option by 31 December 2026

Cobre anticipates significant operating and cash-flow upside from Sierra Atacama's production ramp-up and exploration potential.