Altiplano Metals Inc. Extends Lease Agreement on Santa Beatriz Copper-Gold Mine

Strategic Insights -

Altiplano Metals Inc., a gold, silver, and copper company focused on the Americas, has announced the lease agreement with option to acquire the Santa Beatriz copper-gold-iron mine has been extended to July 2029. The mine, located approximately 45 kilometers south of La Serena, Chile, has a rich history of underground copper-gold mining. Alastair McIntyre, President and CEO, comments on the decision, highlighting the added technical and financial flexibility that the extension provides for further exploration and development.

Key Takeaways:

  • The lease agreement with option to acquire the Santa Beatriz mine has been extended to July 2029.
  • The monthly rental payments will remain at CLP $5,000,000 ($5,300 USD/$7,250 CDN), with the possibility of a 5% increase if the average copper price exceeds US$4.50/lb in each given year.
  • The net profit interest (NPI) has been reduced from 15% to 10% if the mineral is sold to a buyer other than the El Peñón plant.
  • A 1% royalty on net sales of copper and iron concentrates will apply for material processed at the El Peñón plant.
  • An exclusivity payment of CLP $20M ($21,215 USD/$29,015 CDN) will be made within 6 months, followed by another payment of the same amount after 2 years.
  • The Company has the option to purchase the property at any time during the lease period for CLP $350,000,000 (~$507,000 CDN) as per the original agreement.

Statistics:

  • The Company has generated over C$23.8 million from the recovery and sale (after processing costs) of more than 8.2 million pounds of copper with an average grade of 1.8% Cu (Jan 2018 to Mar 2025).
  • The El Peñón copper-gold-iron processing facility is located 30 km from La Serena, Chile.
  • Altiplano has invested over C$23.8 million in acquisition, exploration, new equipment, underground drilling, expanding underground development, and production (Jan 2018 to Mar 2025).

Sources:

  • Newsfile Corp., "Altiplano Metals Inc. Extends Lease Agreement on Santa Beatriz Copper-Gold Mine", Newsfile Corp., July 9, 2025.
  • Altiplano Metals Inc., "Altiplano Metals Announces Extending Lease Agreement on Santa Beatriz Copper-Gold Mine"