Marimaca Eyes 50kt Copper Build With $160M Cash and 2026 FID

Marimaca Copper (TSX: MARI) CEO Hayden Locke says the company is advancing its Marimaca oxide project in Chile toward a potential final investment decision by the end of 2026, positioning it as a near-term copper producer during what he describes as an infrastructure-led demand cycle. Speaking with Kitco Mining at the 35th BMO Global Metals, Mining & Critical Minerals Conference, Locke said the company continues to anchor its planning assumptions well below current spot prices. “We’re running everything, all of our decision making at 4.50,” he said, referring to a $4.50 per pound long-term copper price despite copper trading near $6. The Marimaca oxide deposit is expected to produce roughly 50,000 tonnes of copper cathode annually, with initial capital of about $600 million. Following a C$409 million financing, the company holds more than $160 million in cash to advance engineering, secure debt financing, and expand drilling at the nearby Pampa Medina discovery, which Locke said has potential to become a tier-one opportunity. Marimaca also plans to use recycled seawater sourced from local thermoelectric facilities, while targeting credit-approved debt term sheets by the third quarter and expanding its drill budget to $30–50 million over the next 12–18 months. Don’t forget to subscribe to the Kitco Mining & Kitco News YouTube channels to stay up to date on the latest industry news and interviews. Special thanks to our sponsor, First Majestic Silver. To learn more, visit https://firstmajestic.com/ 01:46 - $4.3B Streaming Deal and Copper Byproduct Monetization 03:13 - C$409M Financing and Greenstone Exit 04:36 - New Share Register and Liquidity Shift 05:40 - Strategic Interest and Board Transition 07:02 - Environmental Approval and 2026 FID Timeline 08:10 - Project Economics at $4.50 Copper Planning Price 10:20 - Recycled Seawater and Chile Water Strategy 11:24 - Pampa Medina Tier One Discovery Potential 13:14 - 50kt Base, 75kt Growth Ambition 15:26 - 2026 Catalysts and $30–50M Drill Program __________________________________________________________________ Kitco Mining is dedicated to reporting on the mining industry. Our mandate is to be the top resource for all mining information and news, offering a clear perspective on where the industry is going through breaking news coverage, mining trends, and in-depth reporting, presented with precious, rare earth, base metals, and industry stock prices. Get important precious and base metal updates while on the go with the Kitco Gold LIVE! app - https://applications.kitco.com Stay connected with us X - https://x.com/KitcoMining Instagram -   / kitcomining   LinkedIn -   / kitco-mining   Facebook -   / kitcomining   Connect with the Kitco Mining anchors Paul Harris - https://x.com/paulharrisgold For more in-depth mining coverage, visit us here - https://www.kitco.com/mining Disclaimer: Videos are not trading advice, and the views expressed may not reflect those of Kitco Metals Inc.