Marimaca Copper Corp

What Marimaca Copper Corp does

Marimaca Copper Corp is a TSX- and ASX-listed (MARI / MC2) copper exploration and development company headquartered in Vancouver with operational offices in Santiago, Chile. Originally incorporated as Coro Mining Corp in 2012 and rebranded in March 2020, the company holds the Marimaca Oxide Deposit (MOD) in Chile's Antofagasta region, located approximately 40km from Antofagasta city and 25km from Puerto de Mejillones. The MOD is described as one of the few greenfield copper discoveries made globally in the last decade and is the company's flagship asset, supported by the adjacent Pampa Medina copper-silver satellite discovery.

The company completed its Definitive Feasibility Study in August 2025 and secured Chilean environmental approval (Resolución de Calificación Ambiental) in November 2025. The DFS contemplates a 50 ktpa (108 million lbs/year) Grade A LME copper cathode operation over a 13-year reserve life, using heap leaching with untreated seawater and sulphuric acid followed by SX-EW processing — a design that eliminates the need for a tailings facility and groundwater abstraction. Initial capital cost is estimated at US$587M with US$11,700/tonne capital intensity (among the lowest globally per Wood Mackenzie benchmarks), C1 cash costs of US$1.45/lb in the first five years, and post-tax NPV8 of US$1.1B at US$5.05/lb copper.

Marimaca is pre-revenue and is funded primarily through equity capital markets; it completed a C$409M global offering in February 2026 (C$136.5M treasury plus C$272.5M secondary from Greenstone Resources), maintaining zero debt and approximately C$227M pro forma cash. Revenue will ultimately come from copper cathode sales, with optional silver by-product credits from Pampa Medina. The company is dual-listed, targeting institutional and strategic investors (including Mitsubishi Corporation and Assore International Holdings), and is engaging copper traders, offtakers, and potential strategic acquirers ahead of a planned 2026 construction decision.

Name

Marimaca Copper Corp

Legal name

Marimaca Copper Corp.

Website

https://marimaca.com

Company type

Public

Founded year

2012

Operating status

Operating

Headcount range

51–100 employees

Short description

Marimaca Copper Corp is a TSX/ASX-listed copper developer advancing the Marimaca Oxide Deposit in Chile's Antofagasta region toward a 2026 construction decision, targeting 50 ktpa of copper cathode production over a 13-year reserve life.

Ownership category

akta.pro rank

Product category

Copper Mining Development

NAICS

Copper, Nickel, Lead, and Zinc Mining (212230)

SIC

Miscellaneous Metal Ores (1090)

akta.pro primary industry

Copper Exploration & Resource Development (IMAKADAA)

akta.pro secondary industries

Copper Mine Engineering, EPC & Expansion Projects (IMAKADAM), Copper Hydrometallurgy (Leaching, SX/EW) (IMAKADAD), Copper Anode/Cathode Production & Handling (IMAKADAG), Copper Logistics, Storage & Port Operations (IMAKADAJ)

Keywords

• Copper mining
• Copper exploration
• Copper cathode production
• Heap leach processing
• Mineral resource development

Headquarters

HQ city

Las Condes

HQ country

Chile

HQ region

Latin America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Supply Chain, Infrastructure, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Copper Cathode Sales: Once in production, the company will generate revenue through sale of Grade A LME copper cathode produced from heap leaching operations at the Marimaca Oxide Deposit. Production target of 50ktpa (108 million lbs annually) of copper cathode with 13-year reserve life. By-product silver credits from Pampa Medina deposit may provide additional revenue streams.
2. Silver By-product Credits: The Pampa Medina copper-silver deposit enables significant by-product credit economics from silver recovery, potentially reducing operating costs by 15-30% and justifying 8-25% NPV premiums when metallurgical recovery is optimized.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

Marimaca Copper Corp is a copper exploration and development company advancing the Marimaca Oxide Deposit (MOD) in Chile's Antofagasta region toward production. The company plans to produce 50 ktpa (108 million lbs annually) of Grade A LME copper cathode over a 13-year reserve life using heap leaching with seawater and sulfuric acid, followed by SX-EW processing. It also holds the Pampa Medina copper-silver satellite discovery intended to expand production via a hub-and-spoke development model.

Product overview

Marimaca Copper Corp is a copper exploration and development company with its core asset being the Marimaca Copper Project (MOD) in Chile's Antofagasta region — one of the few greenfield copper discoveries made globally in the last decade. The company completed a Definitive Feasibility Study in 2025 confirming a 50 ktpa copper cathode production target over a 13-year reserve life via heap leaching and SX-EW processing, with Pampa Medina positioned as a high-grade copper-silver satellite discovery intended to integrate into a phased hub-and-spoke regional development.

Differentiator

Problem solved

Functional benefit

Products and services

• Marimaca Copper Project (MOD) Flagship copper oxide development project in Chile's Antofagasta region targeting 50 ktpa of Grade A LME copper cathode over a 13-year reserve life, with US$587m pre-production capital cost and 31% IRR at base case.
• Pampa Medina Copper-Silver Deposit

Quantifiable outcome

• Capital intensity of US$11,700/tonne of copper production capacity - among lowest globally
• +5 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Infrastructure Partners (Water and Power)coreStrategic or Co-development PartnerLocal and international infrastructure firms providing Build Own Operate Transfer (BOOT) proposals for water and power infrastructure to the mine gate. Reduces upfront capital cost with costs reflected as ongoing operating expenses.
• Ausenco Engineering Canada ULCcoreImplementation/ SI/ Consulting PartnerEngineering consultancy responsible for DFS engineering, material take-offs, detailed equipment lists, and process plant geotechnical information. EPC quote provided for SX-EW facility by Tenova.
• NCL Ingeniería y Construcción SpAcoreImplementation/ SI/ Consulting PartnerChilean mining consultancy providing mining costs, mine planning, and responsible for Mineral Reserve estimation. Carlos Guzmán, Principal Director, is the Competent Person for ore reserves.
• Excon (Chilean Contractor)minorImplementation/ SI/ Consulting PartnerOne of the largest earthmoving contractors in Chile providing rates for massive and civil earthworks based on their expertise in mining earthworks.
• TenovaminorImplementation/ SI/ Consulting PartnerEngineering firm providing EPC quote for SX-EW processing facility.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Capstone Copper Corp: Mid-cap copper producer operating the Mantos Blancos and Mantoverde mines in Chile's Antofagasta region. Closest geographic and operational peer to Marimaca, sharing Chilean infrastructure, SX-EW/heap-leach exposure, and LME cathode production.
• Hot Chili Ltd: ASX-listed copper-gold developer advancing the Costa Fuego project in Chile's Atacama region. Closely comparable as a development-stage copper developer in Chile pursuing heap-leach/SX-EW production targeting first production this decade.
• Hudbay Minerals Inc. TSX-listed copper producer with operating mines in Peru and Manitoba, plus development-stage growth projects in copper. Comparable as a copper-focused intermediate with both producing and development-stage assets.

Emerging players

• Filo Corp: TSX-listed copper-gold exploration and development company advancing the Filo del Sol project in the Vicuña district on the Chile-Argentina border. Comparable as a South American copper developer at similar pre-construction stage, though targeting higher-grade sulphide mineralisation.
• Solaris Resources: TSX-listed copper developer with the Warintza porphyry project in Ecuador. Comparable as a development-stage copper company pursuing a tier-1 asset through feasibility, with a comparable equity-financing and permitting pathway.
• Atalaya Mining plc: AIM-listed copper producer and developer with the Riotinto project in Spain. Comparable as a mid-cap copper developer-operator that has demonstrated capital-efficient project execution, though geographically distinct from Marimaca's Chilean asset base.

Broad incumbents

• Antofagasta plc: London-listed major copper producer with four operating mines in Chile's Antofagasta region, controlled by the Luksic Group. Operates in the same mining district as Marimaca's project and provides the closest incumbent benchmark for Chilean copper operations and infrastructure.
• Lundin Mining Corporation: TSX-listed diversified base-metal miner with copper operations across Chile, Brazil, and Portugal. Comparable as a mid-cap copper-focused incumbent with development optionality and SX-EW experience at Caserones in Chile.
• Teck Resources Limited: TSX-listed diversified major with significant Chilean copper operations (Quebrada Blanca, Carmen de Andacollo) and a large copper growth pipeline. Comparable incumbent with Chilean SX-EW and sulphide processing expertise relevant to Marimaca's hub-and-spoke expansion thesis.

Others

• Osisko Gold Royalties Ltd: TSX-listed precious-metals royalty and streaming company that already holds a royalty on Marimaca's mining assets. Comparable as a capital partner and potential future financier/streamer for development-stage copper projects.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights8 records

Customer concentration

• YouTubeyoutube.com/channel/UCO3rFRoazisFjNnFo_qTAlA/featured
• Xx.com/marimaca_copper
• LinkedInlinkedin.com/company/coro-mining

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds7 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Marimaca Copper Corp