Mergers & Acquisitions ·
Chilean Cobalt signs option to acquire Chile mining concessions for up to $27.5M and extends NeoRe project timeline
COBAChilean Cobalt Corp.
On October 28, 2026, Chilean Cobalt Corp entered into a definitive option agreement to acquire approximately 1,381 hectares of exploitation-level and 2,900 hectares of exploration-level mining concessions in the San Juan district of northern Chile. The company paid $300,000 upon signing to extend future payments by 60 days. To fully exercise the option, the company must pay $1.5 million by December 30, 2026, $6 million by April 29, 2027, and two additional installments of $10 million each in late 2027 and late 2028. Upon acquisition, the sellers receive a 1.5% net smelter return royalty for 99 years. Concurrently, on October 29, the company amended its agreement with NeoRe SpA regarding the NeoRe Rare Earth Project, confirming completion of initial tranches and extending the option exercise deadline to March 31, 2027. Chilean Cobalt Corp operates in the mining sector, focusing on cobalt and rare earth exploration.