Chilean Cobalt Corp. Enters Offtake Arrangement with Glencore on La Cobaltera and El Cofre Projects
Chilean Cobalt (OTCQB:COBA) entered an offtake arrangement with a Glencore subsidiary on November 13, 2025 granting Glencore an irrevocable, exclusive right to purchase up to 100% of cobalt and/or copper products and other materials produced from the La Cobaltera and El Cofre projects for the life of mine. The parties anticipate the majority of intermediate cobalt and copper product streams sold to Glencore will be shipped to the United States for processing and refining.
Glencore is expected to provide strategic support for La Cobaltera Phase 1 and collaborate on initiatives to develop US-based processing and refining capabilities, which Chilean Cobalt says may help satisfy a condition precedent for pursuing strategic project financing.
Chilean Cobalt (OTCQB:COBA) ha stipulato un accordo di offtake con una consociata di Glencore il 13 novembre 2025, concedendo a Glencore un diritto irrevocabile ed esclusivo di acquistare fino al 100% dei prodotti di cobalto e/o rame e altri materiali prodotti dai progetti La Cobaltera ed El Cofre per tutta la durata utile della miniera. Le parti prevedono che la maggior parte dei flussi di prodotto intermedio di cobalto e rame venduti a Glencore sarà inviata agli Stati Uniti per l'elaborazione e la raffinazione.
Si prevede che Glencore fornirà supporto strategico per la Fase 1 di La Cobaltera e collaborerà su iniziative per sviluppare capacità di lavorazione e raffinazione basate negli Stati Uniti, che secondo Chilean Cobalt potrebbe aiutare a soddisfare una condizione preliminare per perseguire finanziamenti strategici del progetto.
Chilean Cobalt (OTCQB:COBA) entró en un acuerdo de offtake con una filial de Glencore el 13 de noviembre de 2025, otorgando a Glencore un derecho irrevocable y exclusivo para comprar hasta el 100% de productos de cobalto y/o cobre y otros materiales producidos en los proyectos La Cobaltera y El Cofre durante toda la vida de la mina. Se espera que la mayoría de los flujos de productos intermedios de cobalto y cobre vendidos a Glencore sean enviados a los Estados Unidos para procesamiento y refinación.
Se espera que Glencore aporte apoyo estratégico para la Fase 1 de La Cobaltera y colabore en iniciativas para desarrollar capacidades de procesamiento y refinación basadas en EE. UU., lo cual, según Chilean Cobalt, podría ayudar a cumplir una condición previa para buscar financiamiento estratégico del proyecto.
Chilean Cobalt (OTCQB:COBA)는 2025년 11월 13일 Glencore 자회사를 통한 위탁 구매 계약을 체결하여 Glencore에 La Cobaltera 및 El Cofre 프로젝트에서 생산되는 코발트 및/또는 구리 제품의 최대 100%와 기타 재료를 광업 수명 동안의 매수권으로 부여했습니다. 양측은 Glencore에 판매되는 중간 코발트 및 구리 제품 흐름의 대부분이 미국으로 배송되어 가공 및 정제될 것이라 예상합니다.
Glencore는 La Cobaltera 1단계에 대한 전략적 지원을 제공하고 미국 기반의 가공 및 정제 역량을 개발하기 위한 이니셔티브에 협력할 것으로 예상되며, 이는 칠레 코발트가 프로젝트 전략적 자금 조달을 추진하기 위한 전제 조건 충족에 도움이 될 수 있다고 합니다.
Chilean Cobalt (OTCQB:COBA) a conclu un accord d'approvisionnement (offtake) avec une filiale de Glencore le 13 novembre 2025, accordant à Glencore un droit irrévocable et exclusif d'acheter jusqu'à 100% des produits de cobalt et/ou de cuivre et d'autres matériaux issus des projets La Cobaltera et El Cofre pendant toute la durée de vie de la mine. Les parties prévoient que la majorité des flux de produits intermédiaires de cobalt et de cuivre vendus à Glencore seront expédiés vers les États-Unis pour le traitement et le raffinage.
On s'attend à ce que Glencore fournisse un soutien stratégique pour La Cobaltera Phase 1 et collabore sur des initiatives visant à développer des capacités de traitement et raffinage basés aux États‑Unis, ce que Chilean Cobalt dit pouvoir aider à satisfaire une condition préalable à la recherche d’un financement stratégique du projet.
Chilean Cobalt (OTCQB:COBA) hat eine Abnahmevereinbarung mit einer Tochtergesellschaft von Glencore unterzeichnet am 13. November 2025, die Glencore ein unwiderrufliches, exklusives Recht zum Kauf von bis zu 100% der Kobalt- und/oder Kupferprodukte sowie anderer Materialien aus den Projekten La Cobaltera und El Cofre für die Lebensdauer der Mine gewährt. Die Parteien gehen davon aus, dass der Großteil der an Glencore verkauften Zwischenprodukte aus Kobalt und Kupfer in die USA zur Weiterverarbeitung und Veredlung geliefert wird.
Es wird erwartet, dass Glencore strategische Unterstützung für La Cobaltera Phase 1 bietet und an Initiativen zur Entwicklung von in den USA basierten Verarbeitungs- und Veredelungskapazitäten mitarbeitet, was Chilean Cobalt zufolge eine Vorbedingung zur Verfolgung einer strategischen Projektfinanzierung erfüllen könnte.
Chilean Cobalt (OTCQB:COBA) أبرمت ترتيب توريد مع شركة تابعة لـ Glencore في 13 نوفمبر 2025 يمنح Glencore حقاً لا رجعة فيه وحصرياً لشراء حتى 100% من منتجات الكوبالت و/أو النحاس وغيرها من المواد الناتجة عن مشروعي La Cobaltera و El Cofre طوال عمر المنجم. تتوقع الأطراف أن غالبية مسارات منتجات الكوبالت والنحاس من المرحلة المتوسطة المباعة لـ Glencore ستُشحن إلى الولايات المتحدة لمعالجتها وتكريرها.
من المتوقع أن توفر Glencore دعمًا استراتيجيًا لـ La Cobaltera Phase 1 والتعاون في مبادرات لتطوير قدرات المعالجة والتكرير القائمة في الولايات المتحدة، وهو ما تقول Chilean Cobalt أنه قد يساعد في استيفاء شرط سابق للسعي إلى تمويل استراتيجي للمشروع.
- 100% offtake right for life of mine
- US processing focus for majority of intermediate product stream
- Glencore to provide strategic support for Phase 1
- Potential to support project financing as a condition precedent
- None.
BERWYN, PA / ACCESS Newswire / November 13, 2025 / Chilean Cobalt Corp. (OTCQB:COBA) ("Chilean Cobalt" or the "Company") is pleased to announce that it has entered into an offtake arrangement, pursuant to a Deed of Undertaking, with a wholly-owned subsidiary of Glencore plc (LSE: GLEN) (together, with its subsidiaries, "Glencore"). The Company will provide Glencore with an irrevocable and exclusive right to purchase up to
Both parties anticipate that of any Materials sold to Glencore in the future, the majority of the cobalt and copper intermediate product stream will be shipped into the United States ("US") for processing and refining.
"This marks a significant milestone for Chilean Cobalt as we advance the La Cobaltera and El Cofre projects and work to establish an Americas-focused cobalt supply chain," said Duncan T. Blount, Chairman and CEO of Chilean Cobalt. "We believe that working with Glencore, one of the world's leading producers and marketers of cobalt and copper, will satisfy a key condition precedent as we pursue strategic project financing, and positions us to accelerate project development, while supporting the growing demand for secure and responsibly sourced critical minerals."
In addition, Glencore is expected to provide strategic support for development of Chilean Cobalt's La Cobaltera Phase 1 cobalt-copper project, and to collaborate on new initiatives aimed at developing US-based processing and refining capabilities for metal products and/or battery materials.
Through this relationship, Chilean Cobalt will leverage Glencore's global expertise and extensive network as one of the world's leading producers and marketers of cobalt, with established extraction and processing operations worldwide.
About Chilean Cobalt Corp.
Chilean Cobalt Corp. is a US-based critical minerals exploration and development company focused on the La Cobaltera and El Cofre projects in northern Chile, one of the world's few primary cobalt districts. Chilean Cobalt is committed to creating ecological and social value for all stakeholders; economic value for Chile and the Chilean communities in which it operates; and financial value for its shareholders.
Safe Harbor Statement
This news release contains statements that involve expectations, plans or intentions (such as those relating to future business or financial results) and other factors discussed from time to time in the Company's Securities and Exchange Commission filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. You can identify these forward-looking statements by words such as "may," "should," "expect," "anticipate," "believe," "estimate," "intend," "plan" and other similar expressions. Examples of forward-looking statements, include, among others, statements the Company makes regarding its ability to leverage the industry expertise and collaborate on new initiatives with Glencore, ability to establish "Proven" or "Probable" Reserves, as defined by the SEC under Industry Guide 7, through the completion of a Definitive Feasibility Study for the minerals that the Company seeks to produce and offer for offtake and the inherent risks of mining, exploration, development, and processing operations that may negatively impact the business. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors not within the control of the Company. The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The Company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
CONTACTS:
Chilean Cobalt Corp. Duncan T. Blount Chairman & CEO
Duncan.Blount@chileancobaltcorp.com
SOURCE: Chilean Cobalt Corp.
View the original press release on ACCESS Newswire
FAQ
What did Chilean Cobalt announce on November 13, 2025 regarding Glencore and COBA?
How will the Glencore offtake affect processing of COBA's materials?
Will Glencore assist development of Chilean Cobalt's La Cobaltera Phase 1 project (COBA)?
Does the offtake with Glencore affect Chilean Cobalt's project financing plans (COBA)?
Is the Glencore offtake exclusive for COBA's La Cobaltera and El Cofre projects?
