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.
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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
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