Marimaca Copper (ASX:MC2) executed a binding asset purchase option agreement to acquire a used sulfuric acid plant in Chile from CEMIN Holding Minero for $2.5 million, according to a Friday Australian bourse filing.

The agreement includes an exclusivity period of three months for further detailed technical and engineering reviews. Marimaca completed an initial technical due diligence, including a site visit and review of independent engineering reports completed by Holtec International.

Marimaca will complete the transaction via a structured asset purchase agreement from CEMIN's unit, Administradora Industrial y Minera Pada. It made an upfront payment of $1 million upon the execution of the agreement, and it will make a second payment of $1.5 million following the three-month due diligence period.

The agreement includes a commitment to mobilize plant equipment to a site designated by the firm before June 30, 2026.

Sulfuric acid is one of the key input costs for the Marimaca oxide deposit, part of the Marimaca copper project. The plant can produce up to 150,000 tonnes per annum of concentrated sulfuric acid, representing around 30% to 40% of total acid consumption at the deposit, depending on the development phase.