Marimaca Copper (ASX:MC2) launched a brokered placement to raise about AU$80 million through the issuance of around 8.3 million Chess depositary interests at AU$9.70 apiece, according to a Friday filing with the Australian bourse.

The funds will support detailed design, engineering, and project work at the Marimaca oxide deposit, exploration at the Pampa Medina project and Marimaca sulphide target, and general corporate purposes, the filing said.