US‑based Chilean Cobalt Corporation has secured a fresh letter of interest from the US Export‑Import Bank for a potential debt package of up to $375‑million, supporting development of the La Cobaltera and El Cofre cobalt‑and‑copper projects in Chile. The new indication replaces a previous $317‑million letter of intent that has now expired, with the company seeking a higher amount to reflect its updated development plan.
Chilean Cobalt says EXIM financing would underpin its strategy to build a secure, Americas‑based supply chain for cobalt and copper—an approach that aligns closely with Washington’s current push to expand downstream critical‑minerals processing capacity outside China. The company will continue evaluating additional funding opportunities under EXIM’s Supply Chain Resilience Initiative while preparing a formal financing application for 2027.
Both projects already have commercial backing from Glencore, which has agreed to purchase future cobalt and copper output once production begins.