Chilean Cobalt Corp. has received a non-binding Letter of Interest from the Export-Import Bank of the United States for a potential debt funding package of up to USD $375 million to support the capital development plan for the La Cobaltera and El Cofre projects in northern Chile.

The new non-binding arrangement carries a tenor of up to 15 years and replaces a previously issued $317.4 million letter that has expired. Following a one-time extension of the original financing outline, the company submitted an application for an increased amount reflecting an updated development plan for the assets.

Financing would be provided under the bank's China and Transformational Exports Program and could qualify for special consideration to mitigate competitive export support from overseas jurisdictions and advance United States leadership in critical minerals. In parallel, the company continues to evaluate potential financing under the bank's Supply Chain Resiliency Initiative, which can cover up to 100% of eligible project capital expenditures for international critical minerals projects with qualifying long-term U.S. offtake agreements.

The potential debt package is subject to the completion of due diligence and underwriting, and Chilean Cobalt intends to submit a formal application and supporting materials during 2027. The arrangement does not represent a binding financing commitment.

The potential debt support complements an offtake agreement finalized in late 2025, which grants Glencore an exclusive right to purchase up to 100% of cobalt and copper products from La Cobaltera and the El Cofre project over the life of the mine. Most of the intermediate product stream is expected to ship to the United States for processing and refining.

To support long-term site infrastructure, Chilean Cobalt entered into a memorandum of understanding in July 2026 with Gold Express Mines for a desalinated water supply sourced from the Cerro Blanco Water project, situated approximately 30 kilometers from the northern Chile operations.

Read the full announcement: Chilean Cobalt Corp. Announces Receipt of New USD $375 Million Letter of Interest from US EXIM Bank