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Strategic Minerals plc announced on 7 September 2026 that its wholly owned subsidiary, Southern Minerals Group LLC, agreed an extension to its access to the Cobre magnetite stockpile in New Mexico, USA. This extension provides continued access until 31 March 2031, two years beyond the prior agreement's term of 31 March 2029, and was made through a Third Amendment to the existing Magnetite Sales Contract.
| Date | 7 Sept 2026 |
| Time | 07:00:11 |
| Category | Miscellaneous |
| ID | 6441T |
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the European Union (Withdrawal) Act 2018.
7 September 2026
Strategic Minerals plc
("Strategic Minerals" or the "Company")
Cobre Access Extended to 31 March 2031
Strategic Minerals (AIM: SML; USOTC: SMCDF), an international mineral exploration and production company, is pleased to announce that its wholly owned subsidiary, Southern Minerals Group LLC ("SMG"), has agreed an extension to its access to the Cobre magnetite stockpile in New Mexico, USA, to 31 March 2031.
The extension provides SMG with continued access to the Cobre magnetite stockpile for a further two years beyond the current agreement, extending the term from 31 March 2029 to 31 March 2031 and supporting the Company's commitment to long-term site operations under the lease and continued capital investment in new mining equipment, as announced on 2 June 2026.
The extension has been agreed through a Third Amendment to the existing Magnetite Sales Contract and all other terms of the existing agreement remain in full force and effect.
Mark Burnett, Executive Director of Strategic Minerals, commented:
"The extension of access to Cobre through to March 2031 provides further certainty around an important source of internal cash flow for the Company. This will continue to support the operating costs of the business and the advancement of our flagship Redmoor tungsten tin copper project."
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For further information, please contact: |
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Strategic Minerals plc |
+44 (0) 207 389 7067 |
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Mark Burnett |
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Executive Director |
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Website: |
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Email: |
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Follow Strategic Minerals on: |
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X: |
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LinkedIn: |
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SP Angel Corporate Finance LLP |
+44 (0) 20 3470 0470 |
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Nominated Adviser and Broker |
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Matthew Johnson/Charlie Bouverat/Grant Barker
Zeus Capital Limited Joint Broker Harry Ansell/Katy Mitchell |
+44 (0) 203 829 5000 |
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Vigo Consulting Investor Relations |
+44 (0) 207 390 0234 |
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Ben Simons/George Pope |
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Email : [email protected] |
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Notes to Editors
About Strategic Minerals plc and Cornwall Resources Limited
Strategic Minerals plc (AIM: SML; USOTC: SMCDY) is an AIM-quoted, producing minerals company, actively developing strategic projects in the UK, United States and Australia.
In 2019, the Company completed the 100% acquisition of Cornwall Resources Limited and the Redmoor Tungsten-Tin-Copper Project ("the Redmoor Project").
The Redmoor Project is situated within the historically significant Tamar Valley Mining District in Cornwall, United Kingdom, with a JORC (2012) Compliant Inferred Mineral Resource Estimate published 26 March 2026:
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Resource category |
Domain |
Tonnage |
NSR |
WO3 Eq grade |
WO3 grade |
Sn grade |
Cu grade |
Ag grade |
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Inferred |
Tungsten HGDs |
7.30 |
499 |
0.98 |
0.83 |
0.12 |
0.53 |
7.0 |
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Tin HGDs |
1.95 |
208 |
0.44 |
0.14 |
0.50 |
0.50 |
7.6 |
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Cu Domain SVS |
8.02 |
196 |
0.40 |
0.28 |
0.13 |
0.34 |
4.3 |
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Low Grade SVS |
0.12 |
125 |
0.25 |
0.17 |
0.10 |
0.16 |
2.7 |
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Total Inferred |
17.40 |
324 |
0.65 |
0.49 |
0.17 |
0.44 |
5.8 |
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Total Mineral Resources |
17.40 |
324 |
0.65 |
0.49 |
0.17 |
0.44 |
5.8 |
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The preceding statement of Mineral Resources conforms to the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code) 2012 Edition. All tonnages reported are dry metric tonnes. Minor discrepancies may occur due to rounding to appropriate significant figures. |
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More information on Cornwall Resources can be found at: https://www.cornwallresources.com
In September 2011, Strategic Minerals acquired the distribution rights to the Cobre magnetite project in New Mexico, USA, through its wholly owned subsidiary Southern Minerals Group. Cobre has been in production since 2012 and continues to provide a sustainable revenue stream for the Company.
In March 2018, the Company completed the acquisition of the Leigh Creek Copper Mine situated in the copper rich belt of South Australia. In September 2026, the Company agreed a final sale of Leigh Creek Copper Mine to South Pacific Mineral Investments Pty Ltd trading as Cuprum Metals providing upfront cash with ongoing copper exposure through layered consideration comprising shares, royalties and earn-out. Proceeds will be utilised to further advance the flagship Redmoor Project