Join our daily newsletter At The Bell to receive exclusive market insights
Hot Chili Ltd (ASX:HCH) has jumped +6% in early arvo trades, riding on the back of what is an undeniably hot copper (ignore the pun) thematic globally with high-grade copper reported on-site at its La Verde project in Chile.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
In the background, investment analysts everywhere, along with rock traders, expect the electrification metal to boom throughout 2026.
That’s due to a conflation of headwinds: China’s smelting sector is paying miners to take ore off their hands in a bid to keep expensive machines operating 24/7 while they sell gold and sulphuric acid on the side to keep making profits – so China has moved to cut 10% of output. At the same time, there just so happens to be a series of large copper mines around the world hit by production hiccups all at once.
Copper was already set to continue climbing as part of a ‘megatrend’ – the world has over eight billion people now, we need more power grids, devices, and electronics to sate them – but the developments through Q4 CY2025 are nothing but fuel to the proverbial fire.
Anyway, Hot Chili. The company on Wednesday unveiled its latest drill results with two diamond-tipped rigs spinning down to hit 47m @ 0.57% copper and 28m @ 0.49% copper, from 248m and 316m depth, respectively.
While results are pending, the company reported its geotechs believe they’ve maybe hit upon nearer-surface copper at what could be an updip extension.
“The convergence of mineralisation into a single higher-grade core at La Verde, extending from near surface, is a material development for Hot Chili. Addition of a higher-grade starter pit would significantly strengthen the front-end of Costa Fuego’s 20-year mine schedule,” HCH MD Christian Easterday said.
“Low elevation, access to near-surface higher-grades, secured rights for non-continental water supply and low capital intensity – remove many of the significant challenges facing our high Andean neighbours.”
HCH last traded at $1.15/sh.
Join the discussion: See what HotCopper users are saying about Hot Chili Ltd and be part of the conversations that move the markets.
