Norfolk Metals has agreed to purchase the Ciclón copper project in Chile for US$55 million. The acquisition is supported by a capital raise of up to $120 million, intended to fund the purchase and future exploration activities. Ciclón is an already-permitted project, streamlining the path to potential production. Norfolk plans to initiate resource-growth drilling at the site following the acquisition’s completion. This investment signals Norfolk Metals’ confidence in the project’s potential and the broader Chilean copper market. The deal represents a significant step for Norfolk in expanding its copper portfolio. The total investment, including the project cost and planned drilling, is expected to reach $189 million.