Chilean Cobalt Secures $375 Million US EXIM Financing Interest for Chile Projects
hilean Cobalt Secures $375 Million US EXIM Bank Financing Interest for Chile Copper-Cobalt Project
Chilean Cobalt Corporation has received a new non-binding Letter of Interest (LOI) from the Export-Import Bank of the United States (US EXIM) for potential debt financing of up to $375 million to support development of its La Cobaltera and El Cofre cobalt-copper projects in northern Chile.
The new financing indication is higher than the company’s previous $317 million LOI from US EXIM, which has since expired.
Chilean Cobalt submitted a new application based on an updated development plan and increased funding requirements.
The potential funding would support Chilean Cobalt’s plans to develop the La Cobaltera and El Cofre deposits and establish a secure, Americas-based supply of cobalt and copper.
The company’s strategy aligns with growing US efforts to strengthen critical mineral supply chains and expand processing capacity outside China.
Cobalt is particularly important for energy storage, advanced manufacturing and other strategic applications, while copper remains essential to electrification and power infrastructure.
The proposed EXIM financing could have a tenor of up to 15 years, although the LOI is non-binding and does not represent a final financing commitment.
Chilean Cobalt plans to evaluate additional financing opportunities through EXIM’s Supply Chain Resilience Initiative while preparing a formal financing application.
The company expects to finalise the required application during 2027, after which EXIM would conduct its due diligence and assess whether to provide a final financing commitment.
The projects remain under development, meaning the proposed $375 million facility is subject to further technical, financial and regulatory requirements.
The renewed interest from US EXIM highlights the strategic importance of Chilean Cobalt’s projects as the United States seeks more secure sources of critical minerals.
If ultimately approved, the financing would provide a significant potential source of development capital for La Cobaltera and El Cofre and support the broader objective of establishing a more resilient Americas-based cobalt and copper supply chain.
The latest LOI therefore represents an important financing milestone, but the company must still complete the formal application and satisfy EXIM’s requirements before any funds can be committed.
