{"id":3977,"date":"2026-03-18T08:11:24","date_gmt":"2026-03-18T12:11:24","guid":{"rendered":"https:\/\/www.pampacamarones.cl\/?p=3977"},"modified":"2026-03-18T08:11:24","modified_gmt":"2026-03-18T12:11:24","slug":"pampa-camarones-announces-sale-of-the-ciclon-exploradora-project-to-asx-listed-norfolk-metals-for-us50-million","status":"publish","type":"post","link":"https:\/\/www.pampacamarones.cl\/en\/pampa-camarones-announces-sale-of-the-ciclon-exploradora-project-to-asx-listed-norfolk-metals-for-us50-million\/","title":{"rendered":"Pampa Camarones Announces Sale of the Cicl\u00f3n-Exploradora Project to ASX-Listed Norfolk Metals for US$50 Million"},"content":{"rendered":"

Santiago, Chile \u2013 March 18, 2026 <\/em><\/strong><\/p>\n

Pampa Camarones SpA (BCS:CAMARONEX), controlled by Miner\u00eda Activa, is pleased to announce that it has entered into a binding Share Purchase Agreement with Norfolk Metals Limited (ASX:NFL) for the sale of the Cicl\u00f3n-Exploradora polymetallic project located in northern Chile.<\/p>\n

Under the agreement, Norfolk Metals will acquire 100% of Eco Earth Elements SpA and Don Gabriel SpA, the companies that hold the Cicl\u00f3n-Exploradora project. The total transaction value is USD $50 million, consisting of USD $45 million in cash and USD $5 million in Norfolk Metals shares, subject to customary closing conditions.<\/p>\n

The agreement includes a USD $500,000 non-refundable deposit payable upon signing, which has been duly received by Pampa Camarones.<\/p>\n

Transaction process and expected timeline<\/strong><\/p>\n

The transaction is subject to Norfolk Metals obtaining necessary shareholder approvals and binding investment commitments of not less than A$100 million under a public offer.<\/p>\n

The public offer will be conducted pursuant to a prospectus to be lodged with the Australian Securities & Investment Commission (ASIC) in connection with Norfolk\u2019s planned re-compliance and reinstatement process on the Australian Securities Exchange (ASX), which is required for the acquisition to proceed. Trading in Norfolk shares is and will remain suspended until the company satisfies the ASX requirements for re-listing following completion of the transaction.<\/p>\n

The Share Purchase Agreement provides a period of up to four months to satisfy the conditions precedent required for closing. Norfolk Metals has the option to extend this period by an additional two months, subject to payment of a USD $250,000 non-refundable extension fee, which would be credited against the cash purchase price upon completion.<\/p>\n

Completion of the transaction is expected to occur following Norfolk Metals\u2019 planned capital raising and re-listing process on the Australian Securities Exchange (ASX), which is intended to fund the development and exploration of the project.<\/p>\n

Cicl\u00f3n-Exploradora Project<\/strong><\/p>\n

The Cicl\u00f3n-Exploradora project is an advanced polymetallic project located in the Antofagasta Region of Chile, a globally recognized mining jurisdiction with world-class infrastructure and a long history of copper production. The project hosts 10 million tons with an average grade of 3.0% CuEq resources (NI 43-101 compliant). <\/p>\n

The project holds historical mining activity and multiple additional high-grade polymetallic targets, as well as exploration potential in the nearby La Encantada porphyry copper-gold system. The project had its Environmental Impact Study approved during December 2025.<\/p>\n

The project has been discovered and advanced by Pampa Camarones and Miner\u00eda Activa, a leading Chilean private equity firm with a long and successful track record in the discovery and development of mining assets.<\/p>\n

Andr\u00e9s Susaeta, Chairman of Pampa Camarones and founding partner of Miner\u00eda Activa, commented:<\/p>\n

\n

\u201cThis transaction represents an important milestone for the Cicl\u00f3n-Exploradora project and reflects the work carried out by Miner\u00eda Activa\u2019s and Pampa Camarones\u2019 geological and technical teams over the past years. We believe Norfolk Metals is well positioned to advance the project through its next phase of exploration and development.\u201d<\/p>\n<\/blockquote>\n

About Pampa Camarones<\/strong><\/p>\n

Pampa Camarones is a Chilean copper mining and development company controlled by the Miner\u00eda Activa investment funds. The company operates the Pampa Camarones copper district in northern Chile.<\/p>\n

Further updates regarding the transaction will be provided as the process advances.<\/p>\n","protected":false},"excerpt":{"rendered":"

Santiago, Chile \u2013 March 18, 2026 Pampa Camarones SpA (BCS:CAMARONEX), controlled by Miner\u00eda Activa, is pleased to announce that it has entered into a binding Share [\u2026]<\/span><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-3977","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\nPampa Camarones Announces Sale of the Cicl\u00f3n-Exploradora Project to ASX-Listed Norfolk Metals for US$50 Million - Pampa Camarones<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.pampacamarones.cl\/en\/pampa-camarones-announces-sale-of-the-ciclon-exploradora-project-to-asx-listed-norfolk-metals-for-us50-million\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pampa Camarones Announces Sale of the Cicl\u00f3n-Exploradora Project to ASX-Listed Norfolk Metals for US$50 Million - 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