BERWYN, PA / ACCESS Newswire / August 17, 2026 / Chilean Cobalt Corp. (OTCQB:COBA) (“Chilean Cobalt” or the “Company”) is pleased to announce that it has received a new non-binding Letter of Interest (“LOI”) from the Export-Import Bank of the United States (“EXIM”) for a potential debt funding package of up to $375 million, with a tenor of up to 15 years, to support the Company’s proposed capital funding plan for the La Cobaltera / El Cofre project in northern Chile.

The New LOI follows the expiration of the Company’s previously issued $317.4 million LOI. Following the one-time extension of the original LOI, Chilean Cobalt submitted a new application for an increased potential financing amount based on the Company’s updated development plan for the La Cobaltera / El Cofre project. EXIM has now notified the Company that is prepared to consider financing of up to $375 million of the project’s costs.

The proposed financing would be provided under EXIM’s China and Transformational Exports Program (“CTEP”) and may be eligible for special consideration under Section 402 of EXIM’s 2019 reauthorization (P.L. 116-94). Section 402 directs EXIM to take steps to mitigate the competitive impact of export support provided by the People’s Republic of China (“PRC”) and other covered countries and/or to advance the comparative leadership of the United States in Transformational Export Areas.

Given the PRC’s dominant position in the global cobalt and copper markets, critical minerals essential to lithium-ion batteries, advanced superalloys, and aerospace / defense, the potential EXIM financing supports Chilean Cobalt’s strategy to establish a secure, Americas-based cobalt and copper supply chain while supporting the Company’s objective of developing downstream critical minerals processing capacity in the United States.

The potential financing also complements Chilean Cobalt’s ongoing efforts to establish strategic partnerships and U.S. offtake arrangements for the Company’s anticipated cobalt, copper, and potentially other critical minerals production. These relationships are expected to be important to the Company’s broader financing strategy and to the development of a secure supply chain connecting mineral production in Chile with processing and end-use markets in the United States.

In parallel, Chilean Cobalt continues to evaluate potential financing under EXIM’s Supply Chain Resiliency Initiative (“SCRI”), which is designed to strengthen U.S. access to critical minerals from international projects and reduce reliance on PRC-controlled supply chains. Under SCRI, EXIM may provide financing for eligible international critical minerals projects with qualifying long-term offtake agreements with U.S. companies. Subject to applicable eligibility requirements and the percentage of project production committed to U.S. customers, financing may potentially cover up to 100% of eligible project capital expenditures. EXIM’s SCRI eligibility requirements include, among other considerations, that project output be utilized in the United States for products manufactured in the United States and that the project not be controlled by the PRC or rely on PRC technology.

Chilean Cobalt will continue working with EXIM to advance the financing process and intends to submit the required formal application and supporting materials during 2027. This Letter of Interest does not represent a financing commitment. All final commitments are subject to completion of EXIM’s due diligence and underwriting process and compliance with EXIM policies, program, legal, and eligibility requirements.

This press release does not constitute an offer or sale of, or the solicitation of an offer to buy, securities of the Company nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Chilean Cobalt Corp.

Chilean Cobalt Corp. is a US-based critical minerals exploration and development company focused on the La Cobaltera / El Cofre cobalt-copper project in the historic San Juan mining district, one of the world’s few primary cobalt districts. Chilean Cobalt is committed to creating ecological and social value for all stakeholders; economic value for Chile and the Chilean communities in which it operates; and financial value for its shareholders.

Safe Harbor Statement

This news release contains statements that involve expectations, plans or intentions (such as those relating to future business or financial results) and other factors discussed from time to time in the Company’s Securities and Exchange Commission filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. You can identify these forward-looking statements by words such as “may,” “should,” “expect,” “anticipate,” “believe,” “estimate,” “intend,” “plan” and other similar expressions. Examples of forward-looking statements, include, among others, statements the Company makes regarding its ability to enter into a definitive agreement with EXIM Bank for debt funding as provided for in the LOI, approval for special consideration under Section 402 of EXIM Bank’s 2019 reauthorization (P.L. 116-94), approval for consideration under EXIM Bank’s SRCI, ability to establish a secure, Americas-based cobalt and copper supply chain that supports downstream critical minerals processing capacity in the United States, ability to establish “Proven” or “Probable” Reserves, as defined by the SEC under Item 1300 of Regulation S-K (Subpart 229.1300), through the completion of a Definitive Feasibility Study for the minerals that the Company seeks to produce and the inherent risks of mining, exploration, development, and processing operations that may negatively impact the business. Consequently, our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors not within the control of the company. The company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

CONTACTS:

Chilean Cobalt Corp.
Duncan T. Blount
Chairman & CEO
Duncan.Blount@chileancobaltcorp.com

SOURCE: Chilean Cobalt Corp.

View the original press release on ACCESS Newswire

Media gallery

About The Author
Chilean Cobalt Corp.