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Red Metal signs five-year mining lease for Chile’s Carrizal property
Key takeaways
- Under the agreement, Minera KMT will maintain a minimum monthly production of 2,500t following a seven-month development period, providing consistent revenue for Red Metal s Chilean operations.
- KMT will begin mining in the historic workings at Level 7, which previously yielded 5,080t of ore containing significant copper and silver grades.
- The contract also stipulates that Minera Polymet will receive 10% of sales from copper, silver and gold ores (minus a 1.5% existing royalty) and 15% for cobalt-bearing ores.
Red Metal signs five-year mining lease for Chile’s Carrizal property Shree Mishra Thu, May 14, 2026 at 9:10 PM GMT+7 2 min read HG=F RMESF SI=F GC=F Red Metal Resources, via its Chilean subsidiary Minera Polymet, has signed a five-year mining lease agreement with Minera KMT for the Farellon 1/8 mineral concession within its Carrizal Copper-Gold-Cobalt Property in Chile s Atacama Region.
Under the agreement, Minera KMT will maintain a minimum monthly production of 2,500t following a seven-month development period, providing consistent revenue for Red Metal s Chilean operations.
KMT will begin mining in the historic workings at Level 7, which previously yielded 5,080t of ore containing significant copper and silver grades.
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