UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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| Item 7.01 | Regulation FD Disclosure. |
On November 13, 2025, Chilean Cobalt Corp. (the “Company”) issued a press release announcing it has entered into an offtake arrangement, pursuant to a Deed of Undertaking, with a wholly-owned subsidiary of Glencore plc (LSE: GLEN) (together, with its subsidiaries, “Glencore”). The Company will provide Glencore with an irrevocable and exclusive right to purchase up to 100% of cobalt and/or copper containing products at and/or derived from the Company’s La Cobaltera and El Cofre projects in northern Chile, as well as any other materials, metals and/or byproducts produced and/or derived from the La Cobaltera and El Cofre projects (the “Materials”), for the life of mine. The press release is attached hereto as Exhibit 99.1 and incorporated herein by this reference.
The information contained in the press release attached hereto is being furnished and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that Section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
| Item 8.01 | Other Events. |
On November 11, 2025, the Company entered into a Deed of Undertaking (the “Deed of Undertaking”) with Glencore. Pursuant to the terms of the Deed of Undertaking, the Company agreed to provide Glencore with an irrevocable and exclusive right of first and last refusal to purchase up to 100% of the Materials, as well as any other materials, metals and/or byproducts produced and/or derived from the Company’s La Cobaltera and El Cofre project areas in Chile, for the life of mine. In the future, if and when Glencore agrees to purchase Materials under this arrangement, the terms of any purchases will be as set forth in an offtake contract to be entered into between the parties. The Company expects that the price for the Materials will be mutually agreed upon by both parties no later than three months prior to commencement of deliveries, and will be based on a premium or discount to a prevailing benchmark price index, such as the Fastmarkets cobalt price index.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
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Exhibit Number |
Description | |
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99.1 |
Press release issued by Chilean Cobalt Corp. on November 13, 2025. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
| 2 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| CHILEAN COBALT CORP | ||
| Dated: November 13, 2025 | By: | /s/ Duncan T. Blount |
| Name: | Duncan T. Blount | |
| Title: | Chief Executive Officer | |
| 3 |
Exhibit 99.1
CHILEAN COBALT CORP. ENTERS OFFTAKE ARRANGEMENT WITH
GLENCORE ON LA COBALTERA AND EL COFRE PROJECTS
BERWYN, PA – (November 13, 2025) – Chilean Cobalt Corp. (OTCQB: COBA) (“Chilean Cobalt” or the “Company”) is pleased to announce that it has entered into an offtake arrangement, pursuant to a Deed of Undertaking, with a wholly-owned subsidiary of Glencore plc (LSE: GLEN) (together, with its subsidiaries, “Glencore”). The Company will provide Glencore with an irrevocable and exclusive right to purchase up to 100% of cobalt and/or copper containing products at and/or derived from the Company’s La Cobaltera and El Cofre projects in northern Chile, as well as any other materials, metals and/or byproducts produced and/or derived from the La Cobaltera and El Cofre projects (the “Materials”), for the life of mine.
Both parties anticipate that of any Materials sold to Glencore in the future, the majority of the cobalt and copper intermediate product stream will be shipped into the United States (“US”) for processing and refining.
“This marks a significant milestone for Chilean Cobalt as we advance the La Cobaltera and El Cofre projects and work to establish an Americas-focused cobalt supply chain,” said Duncan T. Blount, Chairman and CEO of Chilean Cobalt. “We believe that working with Glencore, one of the world’s leading producers and marketers of cobalt and copper, will satisfy a key condition precedent as we pursue strategic project financing, and positions us to accelerate project development, while supporting the growing demand for secure and responsibly sourced critical minerals.”
In addition, Glencore is expected to provide strategic support for development of Chilean Cobalt’s La Cobaltera Phase 1 cobalt-copper project, and to collaborate on new initiatives aimed at developing US-based processing and refining capabilities for metal products and/or battery materials.
Through this relationship, Chilean Cobalt will leverage Glencore’s global expertise and extensive network as one of the world’s leading producers and marketers of cobalt, with established extraction and processing operations worldwide.
About Chilean Cobalt Corp.
Chilean Cobalt Corp. is a US-based critical minerals exploration and development company focused on the La Cobaltera and El Cofre projects in northern Chile, 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 leverage the industry expertise and collaborate on new initiatives with Glencore, ability to establish “Proven” or “Probable” Reserves, as defined by the SEC under Industry Guide 7, through the completion of a Definitive Feasibility Study for the minerals that the Company seeks to produce and offer for offtake and the inherent risks of mining, exploration, development, and processing operations that may negatively impact the business. 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